CarGurus, Inc. (NASDAQ:CARG) Given Consensus Recommendation of "Hold" by Analysts

CarGurus, Inc. (NASDAQ:CARG - Get Free Report) has earned an average recommendation of "Hold" from the thirteen brokerages that are presently covering the company, MarketBeat.com reports. Seven analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $37.63.

CARG has been the subject of a number of recent research reports. JMP Securities reissued 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 downgraded CarGurus from an "outperform" rating to a "market perform" rating in a research report on Wednesday, July 2nd. Needham & Company LLC decreased their target price on CarGurus from $45.00 to $39.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Gordon Haskett assumed coverage on CarGurus in a report on Monday, July 14th. They issued a "hold" rating and a $35.00 price target for the company. Finally, Citigroup cut their price target on CarGurus from $40.00 to $37.00 and set a "neutral" rating for the company in a report on Thursday, July 3rd.

Insider Buying and Selling at CarGurus

In other CarGurus news, insider Ismail Elshareef sold 1,325 shares of the firm's stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $35.00, for a total transaction of $46,375.00. Following the sale, the insider owned 104,322 shares in the company, valued at $3,651,270. This trade represents a 1.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Zachary Emerson Hallowell sold 1,733 shares of the firm's stock in a transaction dated Thursday, July 17th. The shares were sold at an average price of $33.84, for a total value of $58,644.72. Following the sale, the chief executive officer owned 117,045 shares in the company, valued at $3,960,802.80. The trade was a 1.46% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 59,049 shares of company stock valued at $1,899,297. 16.99% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. QRG Capital Management Inc. increased its holdings in shares of CarGurus by 4.3% in the second quarter. QRG Capital Management Inc. now owns 8,116 shares of the company's stock worth $272,000 after buying an additional 332 shares during the period. Summit Investment Advisors Inc. increased its holdings in shares of CarGurus by 4.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 9,075 shares of the company's stock worth $332,000 after buying an additional 423 shares during the period. US Bancorp DE increased its holdings in shares of CarGurus by 14.6% in the first quarter. US Bancorp DE now owns 3,733 shares of the company's stock worth $109,000 after buying an additional 475 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in CarGurus by 0.8% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 62,955 shares of the company's stock valued at $2,300,000 after purchasing an additional 483 shares during the period. Finally, NewEdge Advisors LLC increased its holdings in CarGurus by 25.0% during the 4th quarter. NewEdge Advisors LLC now owns 2,716 shares of the company's stock valued at $99,000 after purchasing an additional 543 shares during the period. Hedge funds and other institutional investors own 86.90% of the company's stock.

CarGurus Stock Performance

Shares of CarGurus stock traded down $0.38 on Thursday, hitting $33.63. The company had a trading volume of 684,333 shares, compared to its average volume of 790,990. The stock has a market capitalization of $3.51 billion, a price-to-earnings ratio of 96.09, a P/E/G ratio of 1.67 and a beta of 1.44. The stock has a 50 day moving average of $32.63 and a 200-day moving average of $32.62. CarGurus has a 1 year low of $21.65 and a 1 year high of $41.33.

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