CarGurus (CARG) Lifted to Buy at Zacks Investment Research

CarGurus (NASDAQ:CARG) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Monday, January 8th. The brokerage currently has a $34.00 price objective on the stock. Zacks Investment Research‘s price target would suggest a potential upside of 5.13% from the stock’s current price.

According to Zacks, “CarGurus, Inc. is an online automotive marketplace connecting buyers and sellers of new and used cars. The company uses proprietary technology, search algorithms and data analytics. It operates primarily in Canada, the United Kingdom and Germany. CarGurus, Inc.is based in CAMBRIDGE, United States. “

A number of other analysts have also weighed in on CARG. Raymond James Financial assumed coverage on shares of CarGurus in a research report on Monday, November 6th. They issued a “market perform” rating on the stock. BidaskClub lowered shares of CarGurus from a “hold” rating to a “sell” rating in a research report on Friday, December 29th. William Blair started coverage on shares of CarGurus in a research report on Monday, November 6th. They set an “outperform” rating on the stock. Royal Bank of Canada started coverage on shares of CarGurus in a research report on Monday, November 6th. They set a “sector perform” rating and a $33.00 target price on the stock. Finally, JMP Securities started coverage on shares of CarGurus in a research report on Monday, November 6th. They set a “market perform” rating on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $31.00.

Shares of CarGurus (NASDAQ CARG) traded up $1.71 during midday trading on Monday, hitting $32.34. 334,238 shares of the stock traded hands, compared to its average volume of 249,850. CarGurus has a 52-week low of $25.85 and a 52-week high of $35.42.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings data on Tuesday, November 14th. The company reported $0.02 earnings per share for the quarter. The firm had revenue of $83.00 million during the quarter, compared to analysts’ expectations of $79.23 million. CarGurus’s quarterly revenue was up 56.3% on a year-over-year basis. sell-side analysts anticipate that CarGurus will post 0.11 earnings per share for the current fiscal year.

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CarGurus Company Profile

CarGurus, Inc is an online automotive marketplace connecting buyers and sellers of new and used cars. Using proprietary technology, search algorithms, and data analytics. The Company’s marketplace empowers users with unbiased third-party validation on pricing and dealer reputation as well as other information that aids them in finding Great Deals from Great Dealers.

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