CarGurus, Inc. (NASDAQ:CARG) Receives $36.95 Average PT from Analysts

CarGurus, Inc. (NASDAQ:CARG - Get Free Report) has been assigned a consensus rating of "Moderate Buy" from the eleven analysts that are presently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among analysts that have covered the stock in the last year is $36.95.

CARG has been the subject of several analyst reports. 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 report on Friday. JMP Securities decreased their price objective on CarGurus from $43.00 to $38.00 and set a "market outperform" rating on the stock in a report on Wednesday, April 9th. UBS Group lifted 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. Royal Bank of Canada restated an "outperform" rating and set a $42.00 price objective on shares of CarGurus in a research report on Monday. Finally, Oppenheimer cut their price target on shares of CarGurus from $44.00 to $42.00 and set an "outperform" rating on the stock in a report on Monday, February 24th.

Insider Buying and Selling at CarGurus

In related news, CEO Zachary Emerson Hallowell sold 1,824 shares of the business's stock in a transaction on Thursday, April 17th. The shares were sold at an average price of $26.73, for a total value of $48,755.52. Following the completion of the sale, the chief executive officer now directly owns 129,790 shares of the company's stock, valued at $3,469,286.70. The trade was a 1.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Samuel Zales sold 10,000 shares of CarGurus stock in a transaction on Monday, March 17th. The shares were sold at an average price of $30.78, for a total transaction of $307,800.00. Following the completion of the transaction, the chief operating officer now owns 390,025 shares in the company, valued at approximately $12,004,969.50. This represents a 2.50% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 31,824 shares of company stock valued at $907,856 in the last 90 days. Company insiders own 16.99% of the company's stock.

Institutional Trading of CarGurus

A number of institutional investors have recently added to or reduced their stakes in the stock. Louisiana State Employees Retirement System boosted its holdings in CarGurus by 0.7% during the fourth quarter. Louisiana State Employees Retirement System now owns 42,500 shares of the company's stock worth $1,553,000 after buying an additional 300 shares in the last quarter. Summit Investment Advisors Inc. boosted its holdings in CarGurus by 4.9% during 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 in the last quarter. Principal Securities Inc. boosted its holdings in CarGurus by 82.7% during the fourth quarter. Principal Securities Inc. now owns 937 shares of the company's stock worth $34,000 after buying an additional 424 shares in the last quarter. Fifth Third Bancorp boosted its holdings in CarGurus by 100.0% during the fourth quarter. Fifth Third Bancorp now owns 912 shares of the company's stock worth $33,000 after buying an additional 456 shares in the last quarter. Finally, 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. Hedge funds and other institutional investors own 86.90% of the company's stock.

CarGurus Stock Up 1.9%

Shares of CARG traded up $0.61 during mid-day trading on Friday, hitting $33.57. 1,386,014 shares of the company's stock traded hands, compared to its average volume of 877,484. CarGurus has a 1 year low of $21.65 and a 1 year high of $41.33. The firm has a market capitalization of $3.51 billion, a P/E ratio of 186.51, a PEG ratio of 1.72 and a beta of 1.45. The business's 50-day moving average price is $28.80 and its 200-day moving average price is $33.75.

CarGurus (NASDAQ:CARG - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.46 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.04. CarGurus had a return on equity of 27.14% and a net margin of 2.34%. The firm 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 company earned $0.32 earnings per share. The company's revenue was up 4.3% on a year-over-year basis. Sell-side analysts anticipate that CarGurus will post 1.41 earnings per share for the current fiscal year.

About CarGurus

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.