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

Shares of CarGurus, Inc. (NASDAQ:CARG - Get Free Report) have earned an average rating of "Moderate Buy" from the eleven brokerages that are currently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $36.95.

Several research firms have weighed in on CARG. UBS Group boosted their price objective on CarGurus from $29.00 to $33.00 and gave the stock a "neutral" rating in a research report on Friday, May 9th. Oppenheimer dropped their price target on CarGurus from $44.00 to $42.00 and set an "outperform" rating on the stock in a research report on Monday, February 24th. JPMorgan Chase & Co. cut CarGurus from an "overweight" rating to a "neutral" rating and dropped their price target for the company from $42.00 to $34.00 in a research report on Thursday, March 27th. JMP Securities dropped their price target on CarGurus from $43.00 to $38.00 and set a "market outperform" rating on the stock in a research report on Wednesday, April 9th. Finally, Needham & Company LLC dropped their price target on CarGurus from $45.00 to $39.00 and set a "buy" rating on the stock in a research report on Friday, May 9th.

CarGurus Trading Down 0.8%

CarGurus stock traded down $0.26 during trading on Wednesday, hitting $31.75. 513,351 shares of the company were exchanged, compared to its average volume of 876,467. The business's 50 day moving average is $29.19 and its 200 day moving average is $33.57. CarGurus has a 52 week low of $21.65 and a 52 week high of $41.33. The company has a market capitalization of $3.32 billion, a P/E ratio of 176.40, a PEG ratio of 1.72 and a beta of 1.45.

CarGurus (NASDAQ:CARG - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.46 earnings per share for the quarter, topping 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 business had revenue of $225.16 million for the quarter, compared to analysts' expectations of $226.72 million. During the same quarter in the previous year, the firm earned $0.32 earnings per share. The business's revenue was up 4.3% on a year-over-year basis. Equities analysts expect that CarGurus will post 1.41 EPS for the current year.

Insider Activity at CarGurus

In other CarGurus news, General Counsel Javier Esquivel Zamora sold 12,265 shares of the company's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $31.37, for a total value of $384,753.05. Following the transaction, the general counsel now directly owns 102,723 shares in the company, valued at $3,222,420.51. This represents a 10.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Zachary Emerson Hallowell sold 1,824 shares of the stock in a transaction dated Thursday, April 17th. The shares were sold at an average price of $26.73, for a total value of $48,755.52. Following the transaction, the chief executive officer now owns 129,790 shares in the company, valued at $3,469,286.70. This trade represents a 1.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 49,335 shares of company stock worth $1,457,176. 16.99% of the stock is owned by company insiders.

Institutional Trading of CarGurus

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Rhumbline Advisers lifted its holdings in CarGurus by 0.6% in the 1st quarter. Rhumbline Advisers now owns 236,783 shares of the company's stock worth $6,897,000 after buying an additional 1,496 shares during the period. Strs Ohio bought a new position in CarGurus during the 1st quarter valued at approximately $877,000. Acadian Asset Management LLC increased its position in CarGurus by 185.2% during the 1st quarter. Acadian Asset Management LLC now owns 835,244 shares of the company's stock valued at $24,314,000 after buying an additional 542,382 shares in the last quarter. Intech Investment Management LLC increased its position in CarGurus by 50.0% during the 1st quarter. Intech Investment Management LLC now owns 67,246 shares of the company's stock valued at $1,959,000 after buying an additional 22,425 shares in the last quarter. Finally, Jane Street Group LLC increased its holdings in shares of CarGurus by 113.0% in the 1st quarter. Jane Street Group LLC now owns 123,305 shares of the company's stock worth $3,592,000 after purchasing an additional 65,420 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.