CarGurus, Inc. (NASDAQ:CARG) Given Average Recommendation of "Hold" by Brokerages

Shares of CarGurus, Inc. (NASDAQ:CARG - Get Free Report) have been assigned a consensus rating of "Hold" from the thirteen research firms that are currently covering the company, MarketBeat Ratings reports. Seven research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $38.1250.

CARG has been the topic of several research analyst reports. JMP Securities reiterated a "market perform" rating and issued a $38.00 target price on shares of CarGurus in a research report on Wednesday, July 2nd. Citizens Jmp lowered shares of CarGurus from an "outperform" rating to a "market perform" rating in a research report on Wednesday, July 2nd. Needham & Company LLC boosted their price target on shares of CarGurus from $39.00 to $44.00 and gave the stock a "buy" rating in a research report on Friday, August 8th. Oppenheimer dropped their price objective on shares of CarGurus from $42.00 to $40.00 and set an "outperform" rating for the company in a research note on Tuesday, August 12th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and issued a $42.00 price objective on shares of CarGurus in a report on Monday, May 12th.

Insider Buying and Selling

In other news, CTO Matthew Todd Quinn sold 3,789 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $33.09, for a total value of $125,378.01. Following the completion of the sale, the chief technology officer owned 216,877 shares of the company's stock, valued at $7,176,459.93. This represents a 1.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, General Counsel Javier Zamora sold 6,154 shares of CarGurus stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $35.00, for a total transaction of $215,390.00. Following the sale, the general counsel directly owned 92,807 shares in the company, valued at approximately $3,248,245. The trade was a 6.22% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 49,049 shares of company stock worth $1,616,397 in the last 90 days. Corporate insiders own 17.20% of the company's stock.

Hedge Funds Weigh In On CarGurus

Large investors have recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in CarGurus by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 9,780,608 shares of the company's stock valued at $284,909,000 after buying an additional 93,722 shares during the period. Wellington Management Group LLP increased its position in shares of CarGurus by 12.7% during the first quarter. Wellington Management Group LLP now owns 8,052,180 shares of the company's stock valued at $234,560,000 after acquiring an additional 906,830 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of CarGurus by 0.3% during the second quarter. The Manufacturers Life Insurance Company now owns 1,914,925 shares of the company's stock valued at $64,093,000 after acquiring an additional 6,676 shares during the last quarter. Invesco Ltd. raised its stake in shares of CarGurus by 6.9% in the 2nd quarter. Invesco Ltd. now owns 1,717,321 shares of the company's stock valued at $57,479,000 after acquiring an additional 110,452 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of CarGurus by 22.4% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,699,910 shares of the company's stock worth $56,896,000 after acquiring an additional 311,287 shares during the last quarter. Institutional investors and hedge funds own 86.90% of the company's stock.

CarGurus Stock Up 2.0%

Shares of NASDAQ CARG opened at $32.39 on Monday. The company's 50-day simple moving average is $32.69 and its 200-day simple moving average is $31.83. CarGurus has a 52-week low of $24.65 and a 52-week high of $41.33. The firm has a market cap of $3.22 billion, a price-to-earnings ratio of 26.33, a price-to-earnings-growth ratio of 1.59 and a beta of 1.42.

CarGurus (NASDAQ:CARG - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.54 by $0.03. CarGurus had a net margin of 14.12% and a return on equity of 36.23%. The business had revenue of $234.03 million for the quarter, compared to analyst estimates of $232.29 million. During the same quarter last year, the business earned $0.41 earnings per share. The company's revenue for the quarter was up 7.0% compared to the same quarter last year. Equities research analysts anticipate that CarGurus will post 1.41 EPS for the current fiscal year.

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.

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