CarGurus' (CARG) "Market Perform" Rating Reaffirmed at JMP Securities

CarGurus (NASDAQ:CARG - Get Free Report)'s stock had its "market perform" rating reiterated by stock analysts at JMP Securities in a research note issued on Wednesday,Benzinga reports. They presently have a $38.00 price objective on the stock. JMP Securities' price target would suggest a potential upside of 12.84% from the stock's previous close.

Several other brokerages also recently issued reports on CARG. Needham & Company LLC dropped their target price on shares of CarGurus from $45.00 to $39.00 and set a "buy" rating on the stock in a research note on Friday, May 9th. UBS Group increased their price objective on shares of CarGurus from $29.00 to $33.00 and gave the stock a "neutral" rating in a research note on Friday, May 9th. Royal Bank Of Canada reissued an "outperform" rating and issued a $42.00 price objective on shares of CarGurus in a research note on Monday, May 12th. Citizens Jmp lowered shares of CarGurus from an "outperform" rating to a "market perform" rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. lowered shares of CarGurus from an "overweight" rating to a "neutral" rating and lowered their price objective for the company from $42.00 to $34.00 in a research report on Thursday, March 27th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $37.86.

CarGurus Stock Performance

NASDAQ:CARG traded up $0.03 during trading hours on Wednesday, reaching $33.68. The company's stock had a trading volume of 410,699 shares, compared to its average volume of 868,761. The firm has a market capitalization of $3.52 billion, a price-to-earnings ratio of 96.22, a PEG ratio of 1.65 and a beta of 1.44. The firm has a 50-day simple moving average of $31.52 and a 200-day simple moving average of $32.85. CarGurus has a 1 year low of $21.65 and a 1 year high of $41.33.

CarGurus (NASDAQ:CARG - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.46 earnings per share for the quarter, beating analysts' consensus estimates of $0.42 by $0.04. The firm had revenue of $225.16 million for the quarter, compared to analyst estimates of $226.72 million. CarGurus had a net margin of 4.28% and a return on equity of 32.54%. The company's revenue for the quarter was up 4.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.32 EPS. Equities analysts anticipate that CarGurus will post 1.41 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, General Counsel Javier Esquivel Zamora sold 12,265 shares of the firm's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $31.37, for a total value of $384,753.05. Following the transaction, the general counsel owned 102,723 shares of the company's stock, valued at $3,222,420.51. This trade represents a 10.67% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Ismail Elshareef sold 5,246 shares of the firm's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $31.37, for a total transaction of $164,567.02. Following the transaction, the insider directly owned 107,007 shares in the company, valued at $3,356,809.59. This trade represents a 4.67% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 51,661 shares of company stock worth $1,557,243 over the last ninety days. 16.99% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of CARG. Proficio Capital Partners LLC bought a new position in shares of CarGurus during the 4th quarter worth approximately $374,000. QRG Capital Management Inc. boosted its holdings in CarGurus by 6.6% during the fourth quarter. QRG Capital Management Inc. now owns 7,687 shares of the company's stock worth $281,000 after buying an additional 475 shares in the last quarter. US Bancorp DE boosted its holdings in CarGurus by 246.6% during the fourth quarter. US Bancorp DE now owns 3,258 shares of the company's stock worth $119,000 after buying an additional 2,318 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in CarGurus by 528.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,765 shares of the company's stock worth $102,000 after buying an additional 2,325 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its holdings in CarGurus by 39.7% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 4,575 shares of the company's stock worth $167,000 after buying an additional 1,301 shares in the last quarter. Institutional investors own 86.90% of the company's stock.

CarGurus Company Profile

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.