CarGurus, Inc. (NASDAQ:CARG) Receives Average Rating of "Moderate Buy" from Analysts

CarGurus, Inc. (NASDAQ:CARG - Get Free Report) has earned a consensus recommendation of "Moderate Buy" from the eleven ratings firms that are currently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $36.95.

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. downgraded shares of CarGurus from an "overweight" rating to a "neutral" rating and lowered their price objective for the stock from $42.00 to $34.00 in a research note on Thursday, March 27th. UBS Group increased their price target on shares of CarGurus from $29.00 to $33.00 and gave the company a "neutral" rating in a report on Friday, May 9th. Royal Bank Of Canada restated an "outperform" rating and set a $42.00 price objective on shares of CarGurus in a report on Monday, May 12th. Needham & Company LLC reduced their target price on shares of CarGurus from $45.00 to $39.00 and set a "buy" rating for the company in a research note on Friday, May 9th. Finally, JMP Securities lowered their price target on CarGurus from $43.00 to $38.00 and set a "market outperform" rating on the stock in a research note on Wednesday, April 9th.

Insider Buying and Selling

In related news, General Counsel Javier Esquivel Zamora sold 12,265 shares of the business's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $31.37, for a total value of $384,753.05. Following the sale, the general counsel owned 102,723 shares of the company's stock, valued at $3,222,420.51. The trade was a 10.67% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Samuel Zales sold 10,000 shares of CarGurus stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $28.29, for a total value of $282,900.00. Following the transaction, the chief operating officer directly owned 493,382 shares of the company's stock, valued at approximately $13,957,776.78. The trade was a 1.99% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 39,335 shares of company stock valued at $1,149,376. 17.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CarGurus

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CARG. Invesco Ltd. grew its holdings in shares of CarGurus by 340.5% during the first quarter. Invesco Ltd. now owns 1,606,869 shares of the company's stock worth $46,808,000 after purchasing an additional 1,242,076 shares during the last quarter. American Century Companies Inc. lifted its position in CarGurus by 547.9% during the 1st quarter. American Century Companies Inc. now owns 1,398,341 shares of the company's stock worth $40,734,000 after buying an additional 1,182,499 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in CarGurus by 168.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,524,478 shares of the company's stock worth $55,704,000 after acquiring an additional 957,035 shares during the last quarter. Wellington Management Group LLP increased its position in CarGurus by 12.7% in the 1st 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 in the last quarter. Finally, Boston Partners increased its position in CarGurus by 1,641.2% in the 1st quarter. Boston Partners now owns 878,556 shares of the company's stock valued at $25,363,000 after acquiring an additional 828,099 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.

CarGurus Trading Up 0.8%

CarGurus stock traded up $0.27 on Friday, reaching $33.74. 931,581 shares of the stock were exchanged, compared to its average volume of 871,836. CarGurus has a twelve month low of $21.65 and a twelve month high of $41.33. The firm has a fifty day moving average price of $31.19 and a two-hundred day moving average price of $32.90. The stock has a market cap of $3.52 billion, a PE ratio of 96.40, a PEG ratio of 1.64 and a beta of 1.44.

CarGurus (NASDAQ:CARG - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.46 EPS for the quarter, topping 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 business had revenue of $225.16 million for the quarter, compared to analyst estimates of $226.72 million. During the same period in the previous year, the company posted $0.32 earnings per share. The firm's revenue for the quarter was up 4.3% on a year-over-year basis. Equities 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.