CarGurus (CARG) Stock Forecast, Price & News

12 Wall Street equities research analysts have issued "buy," "hold," and "sell" ratings for CarGurus in the last year. There are currently 1 sell rating, 3 hold ratings and 8 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should "moderate buy" CARG shares.
View CARG analyst ratings or view top-rated stocks.

12 Wall Street analysts have issued 12 month price objectives for CarGurus' stock. Their CARG share price forecasts range from $15.00 to $28.00. On average, they anticipate the company's share price to reach $23.00 in the next year. This suggests a possible upside of 31.1% from the stock's current price.
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CarGurus' stock was trading at $14.01 on January 1st, 2023. Since then, CARG stock has increased by 25.3% and is now trading at $17.55.
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CarGurus saw a drop in short interest in August. As of August 31st, there was short interest totaling 8,650,000 shares, a drop of 5.3% from the August 15th total of 9,130,000 shares. Based on an average daily volume of 1,620,000 shares, the days-to-cover ratio is presently 5.3 days. Currently, 10.3% of the company's shares are short sold.
View CarGurus' Short Interest.

The company is scheduled to release its next quarterly earnings announcement on Tuesday, November 14th 2023.
View our CARG earnings forecast.

CarGurus, Inc. (NASDAQ:CARG) released its earnings results on Wednesday, August, 9th. The company reported $0.18 EPS for the quarter, beating analysts' consensus estimates of $0.13 by $0.05. The firm earned $239.74 million during the quarter, compared to the consensus estimate of $229.97 million. CarGurus had a trailing twelve-month return on equity of 17.12% and a net margin of 25.21%.

ETFs with the largest weight of CarGurus (NASDAQ:CARG) stock in their portfolio include Invesco S&P SmallCap Utilities & Communication Services ETF (PSCU), Invesco Next Gen Media and Gaming ETF (PBS), SPDR S&P Internet ETF (XWEB), Pacer US Small Cap Cash Cows Growth Leaders ETF (CAFG), WisdomTree Growth Leaders Fund (PLAT) and AdvisorShares Alpha DNA Equity Sentiment ETF (SENT).Global X Millennial Consumer ETF (MILN).

CarGurus issued an update on its third quarter 2023 earnings guidance on Thursday, August, 10th. The company provided earnings per share guidance of $0.24-$0.27 for the period, compared to the consensus earnings per share estimate of $0.23. The company issued revenue guidance of $201.00 million-$221.00 million, compared to the consensus revenue estimate of $238.73 million.

56 employees have rated CarGurus Chief Executive Officer Jason Trevisan on Glassdoor.com. Jason Trevisan has an approval rating of 80% among the company's employees. 81.0% of employees surveyed would recommend working at CarGurus to a friend.

Based on aggregate information from My MarketBeat watchlists, some companies that other CarGurus investors own include Twilio (TWLO), Bank of America (BAC), Tesla (TSLA), Micron Technology (MU), Netflix (NFLX), Roku (ROKU), NVIDIA (NVDA), Intelsat (I), Altria Group (MO) and Shopify (SHOP).

(CARG) raised $132 million in an IPO on Thursday, October 12th 2017. The company issued 9,400,000 shares at a price of $13.00-$15.00 per share. Goldman Sachs, Allen & Company and RBC Capital Markets acted as the underwriters for the IPO and JMP Securities, Raymond James and William Blair were co-managers.

CarGurus trades on the NASDAQ under the ticker symbol "CARG."

CarGurus' stock is owned by a number of institutional and retail investors. Top institutional investors include BlackRock Inc. (13.08%), ArrowMark Colorado Holdings LLC (8.06%), State Street Corp (2.91%), The Manufacturers Life Insurance Company (2.33%), Dimensional Fund Advisors LP (1.74%) and Geode Capital Management LLC (1.65%). Insiders that own company stock include Anastasios Parafestas, Andrea Lee Eldridge, Bin Zhou, George M Lynch, John G Connors, Kathleen Bender Patton, Langley Steinert, Larry M Hutchison, Peter Maag, Samuel Zales, Sarah Amory Welch, Scot Christopher Fredo, Scott T Mikuen, Thomas Michael Caputo and Yann Bruno Gellot.
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Shares of CARG stock can be purchased through any online brokerage account. Popular online brokerages with access to the U.S. stock market include WeBull, Vanguard Brokerage Services, TD Ameritrade, E*TRADE, Robinhood, Fidelity, and Charles Schwab.
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One share of CARG stock can currently be purchased for approximately $17.55.

CarGurus (NASDAQ:CARG) has a market capitalization of $1.99 billion and generates $1.66 billion in revenue each year. The company earns $193.79 million in net income (profit) each year or $0.56 on an earnings per share basis.

The company employs 1,403 workers across the globe.

CarGurus' mailing address is 2 Canal Park 4thFloor, Cambridge MA, 02141. The official website for the company is www.cargurus.com. The company can be reached via phone at (617) 354-0068 or via email at investors@cargurus.com.