CarGurus (NASDAQ:CARG) Now Covered by Gordon Haskett

Gordon Haskett initiated coverage on shares of CarGurus (NASDAQ:CARG - Free Report) in a report released on Monday morning, Marketbeat reports. The firm issued a hold rating and a $35.00 price objective on the stock.

A number of other research analysts also recently commented on CARG. UBS Group increased their target price on shares of CarGurus from $29.00 to $33.00 and gave the company a "neutral" rating in a research report on Friday, May 9th. Citizens Jmp cut shares of CarGurus from an "outperform" rating to a "market perform" rating in a report on Wednesday, July 2nd. Royal Bank Of Canada reiterated an "outperform" rating and set a $42.00 price target on shares of CarGurus in a research note on Monday, May 12th. JMP Securities reaffirmed a "market perform" rating and issued a $38.00 target price on shares of CarGurus in a report on Wednesday, July 2nd. Finally, Citigroup lowered their price target on CarGurus from $40.00 to $37.00 and set a "neutral" rating on the stock in a report on Thursday, July 3rd. Seven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, CarGurus has a consensus rating of "Hold" and a consensus target price of $37.63.

CarGurus Trading Down 0.9%

Shares of CARG stock traded down $0.29 on Monday, reaching $33.52. 233,701 shares of the stock were exchanged, compared to its average volume of 873,387. The company has a market capitalization of $3.50 billion, a price-to-earnings ratio of 95.81, a PEG ratio of 1.65 and a beta of 1.44. The business's 50 day moving average price is $32.46 and its 200 day moving average price is $32.72. CarGurus has a twelve month low of $21.65 and a twelve month high of $41.33.

CarGurus (NASDAQ:CARG - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts' expectations of $226.72 million. During the same period in the prior year, the firm posted $0.32 EPS. The business's quarterly revenue was up 4.3% compared to the same quarter last year. Equities research analysts forecast that CarGurus will post 1.41 earnings per share for the current year.

Insider Activity at CarGurus

In related news, insider Ismail Elshareef sold 1,325 shares of the firm's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $35.00, for a total value of $46,375.00. Following the completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Zachary Emerson Hallowell sold 4,369 shares of the company's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $33.09, for a total transaction of $144,570.21. Following the transaction, the chief executive officer owned 121,584 shares in the company, valued at $4,023,214.56. The trade was a 3.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,316 shares of company stock worth $1,501,852. 16.99% of the stock is currently owned by insiders.

Institutional Trading of CarGurus

Several large investors have recently bought and sold shares of the company. Principal Financial Group Inc. grew its stake in CarGurus by 2.3% in the 1st quarter. Principal Financial Group Inc. now owns 482,484 shares of the company's stock valued at $14,055,000 after acquiring an additional 10,787 shares during the last quarter. Summit Global Investments acquired a new stake in CarGurus during the 4th quarter valued at $1,150,000. Scalar Gauge Management LLC purchased a new position in CarGurus during the fourth quarter worth $4,019,000. GAMMA Investing LLC lifted its position in shares of CarGurus by 35.4% in the first quarter. GAMMA Investing LLC now owns 4,196 shares of the company's stock valued at $122,000 after acquiring an additional 1,097 shares in the last quarter. Finally, Bosman Wealth Management LLC acquired a new stake in shares of CarGurus during the first quarter valued at $2,638,000. Institutional investors and hedge funds 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.