CarGurus, Inc. (NASDAQ:CARG) Receives $38.59 Consensus PT from Brokerages

CarGurus, Inc. (NASDAQ:CARG) has received a consensus recommendation of “Moderate Buy” from the eleven analysts that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $38.41.

CARG has been the topic of a number of recent research reports. JMP Securities restated a “market outperform” rating and issued a $46.00 target price on shares of CarGurus in a report on Monday, December 16th. Needham & Company LLC reissued a “buy” rating and issued a $45.00 price target on shares of CarGurus in a research note on Friday, February 21st. Oppenheimer reduced their price objective on shares of CarGurus from $44.00 to $42.00 and set an “outperform” rating for the company in a research note on Monday, February 24th. JPMorgan Chase & Co. lifted their target price on shares of CarGurus from $40.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Finally, B. Riley raised their price objective on shares of CarGurus from $30.00 to $40.00 and gave the stock a “buy” rating in a research note on Monday, November 11th.

CarGurus Stock Up 4.7 %

NASDAQ:CARG opened at $32.19 on Monday. The business’s 50-day moving average price is $37.33 and its 200 day moving average price is $33.88. CarGurus has a 52-week low of $21.18 and a 52-week high of $41.33. The firm has a market cap of $3.34 billion, a P/E ratio of 178.84, a PEG ratio of 1.72 and a beta of 1.59.

CarGurus (NASDAQ:CARG) last announced its quarterly earnings data on Thursday, February 20th. The company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.06). The business had revenue of $228.54 million during the quarter, compared to analyst estimates of $231.72 million. CarGurus had a return on equity of 27.14% and a net margin of 2.34%. Sell-side analysts expect that CarGurus will post 1.41 EPS for the current year.

Insiders Place Their Bets

In related news, CMO Dafna Sarnoff sold 10,570 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $35.78, for a total value of $378,194.60. Following the transaction, the chief marketing officer now owns 95,261 shares in the company, valued at approximately $3,408,438.58. This represents a 9.99 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Zachary Emerson Hallowell sold 4,580 shares of CarGurus stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $35.78, for a total transaction of $163,872.40. Following the completion of the sale, the chief executive officer now owns 120,051 shares of the company’s stock, valued at $4,295,424.78. This trade represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 59,388 shares of company stock valued at $2,204,338 in the last three months. Insiders own 17.20% of the company’s stock.

Hedge Funds Weigh In On CarGurus

Several hedge funds have recently bought and sold shares of the business. Global Retirement Partners LLC lifted its position in shares of CarGurus by 198.5% in the fourth quarter. Global Retirement Partners LLC now owns 800 shares of the company’s stock worth $29,000 after buying an additional 532 shares during the last quarter. Fifth Third Bancorp boosted its position in CarGurus by 100.0% during the fourth quarter. Fifth Third Bancorp now owns 912 shares of the company’s stock worth $33,000 after purchasing an additional 456 shares during the period. Point72 Hong Kong Ltd acquired a new position in CarGurus during the third quarter valued at approximately $28,000. Principal Securities Inc. raised its position in shares of CarGurus by 82.7% in the fourth quarter. Principal Securities Inc. now owns 937 shares of the company’s stock valued at $34,000 after purchasing an additional 424 shares during the period. Finally, USA Financial Formulas acquired a new stake in shares of CarGurus in the fourth quarter worth $35,000. 86.90% of the stock is owned by institutional investors and hedge funds.

About CarGurus

CarGurus, Inc operates an online automotive platform for buying and selling vehicles in the United States and internationally. It operates through two segments, U.S. Marketplace and Digital Wholesale. The company provides an online automotive marketplace where customers can search for new and used car listings from its dealers and sell their car to dealers and other consumers; and paid listings subscriptions for enhanced access to its marketplace that connects dealers to a large audience of informed and engaged consumers.