Gordon Haskett Begins Coverage on CarGurus (NASDAQ:CARG)

Gordon Haskett began coverage on shares of CarGurus (NASDAQ:CARG - Free Report) in a research report released on Monday, MarketBeat reports. The brokerage issued a hold rating and a $35.00 target price on the stock.

A number of other research analysts have also recently weighed in on CARG. Citigroup dropped their price objective on shares of CarGurus from $40.00 to $37.00 and set a "neutral" rating for the company in a research note on Thursday, July 3rd. JMP Securities reissued a "market perform" rating and set a $38.00 price target on shares of CarGurus in a research report on Wednesday, July 2nd. Royal Bank Of Canada reissued an "outperform" rating and issued a $42.00 price target on shares of CarGurus in a report on Monday, May 12th. JPMorgan Chase & Co. lowered CarGurus from an "overweight" rating to a "neutral" rating and decreased their price objective for the company from $42.00 to $34.00 in a research note on Thursday, March 27th. Finally, Needham & Company LLC cut 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. Seven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $37.63.

CarGurus Price Performance

CARG traded up $0.09 during trading on Monday, reaching $34.39. 624,151 shares of the stock were exchanged, compared to its average volume of 1,058,068. The company has a market capitalization of $3.59 billion, a price-to-earnings ratio of 98.26, a P/E/G ratio of 1.68 and a beta of 1.44. CarGurus has a 1 year low of $21.65 and a 1 year high of $41.33. The business's 50 day moving average price is $32.11 and its two-hundred day moving average price is $32.72.

CarGurus (NASDAQ:CARG - Get Free Report) last released its quarterly earnings results 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. The business had revenue of $225.16 million during the quarter, compared to the consensus estimate of $226.72 million. CarGurus had a return on equity of 32.54% and a net margin of 4.28%. The business's revenue was up 4.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.32 EPS. On average, analysts anticipate that CarGurus will post 1.41 EPS for the current year.

Insider Buying and Selling

In other news, General Counsel Javier Zamora sold 6,154 shares of the stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $35.00, for a total transaction of $215,390.00. Following the transaction, the general counsel directly owned 92,807 shares in the company, valued at $3,248,245. This represents a 6.22% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CMO Dafna Sarnoff sold 4,168 shares of the company's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $33.09, for a total transaction of $137,919.12. Following the transaction, the chief marketing officer directly owned 115,183 shares of the company's stock, valued at $3,811,405.47. This trade represents a 3.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 59,140 shares of company stock worth $1,819,008 over the last ninety days. Insiders own 17.20% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in CarGurus during the first quarter worth about $46,000. GeoWealth Management LLC purchased a new stake in shares of CarGurus during the 4th quarter worth about $49,000. Signaturefd LLC increased its position in CarGurus by 83.9% during the 1st quarter. Signaturefd LLC now owns 1,751 shares of the company's stock worth $51,000 after purchasing an additional 799 shares in the last quarter. Blue Trust Inc. raised its holdings in CarGurus by 49.8% in the first quarter. Blue Trust Inc. now owns 2,494 shares of the company's stock valued at $73,000 after buying an additional 829 shares during the period. Finally, Versant Capital Management Inc raised its holdings in CarGurus by 695.4% in the first quarter. Versant Capital Management Inc now owns 2,593 shares of the company's stock valued at $76,000 after buying an additional 2,267 shares during the period. 86.90% of the stock is owned by hedge funds and other institutional investors.

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.