CarGurus, Inc. operates an online automotive marketplace connecting buyers and sellers of new and used cars in the United States and internationally. The company provides consumers an online automotive marketplace where they can search for new and used car listings from its dealers, as well as sell their car in the United States marketplace. Its marketplace connects dealers to a large audience of informed and engaged consumers. The company operates online marketplaces under the CarGurus brand in Canada and the United Kingdom; and the Autolist and PistonHeads online marketplaces as independent brands in the United States and the United Kingdom. CarGurus, Inc. was founded in 2005 and is headquartered in Cambridge, Massachusetts.
CarGurus Trading Up 1.5 %
Shares of CARG traded up $0.39 during trading hours on Friday, reaching $25.69. 854,671 shares of the stock traded hands, compared to its average volume of 724,070. CarGurus has a 52-week low of $20.15 and a 52-week high of $50.03. The company's 50-day moving average price is $23.60 and its two-hundred day moving average price is $31.52. The company has a market cap of $3.04 billion, a P/E ratio of -34.72, a price-to-earnings-growth ratio of 3.36 and a beta of 1.56.
CarGurus (NASDAQ:CARG - Get Rating) last announced its earnings results on Monday, May 9th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.20 by ($0.02). The business had revenue of $430.60 million for the quarter, compared to analysts' expectations of $392.66 million. CarGurus had a net margin of 2.05% and a return on equity of 22.94%. The firm's quarterly revenue was up 151.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.24 earnings per share. On average, research analysts forecast that CarGurus will post 0.59 EPS for the current year.
Wall Street Analysts Forecast Growth
CARG has been the topic of a number of recent analyst reports. JMP Securities began coverage on CarGurus in a research report on Thursday, June 30th. They issued a "market perform" rating on the stock. Oppenheimer reduced their price objective on CarGurus from $45.00 to $38.00 in a research note on Tuesday, May 10th. BTIG Research cut their target price on CarGurus from $40.00 to $33.00 and set a "buy" rating on the stock in a research note on Tuesday, June 21st. Royal Bank of Canada cut their target price on CarGurus from $56.00 to $45.00 in a research note on Tuesday, May 10th. Finally, Benchmark lowered their price objective on shares of CarGurus from $63.00 to $50.00 in a report on Tuesday, May 10th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, CarGurus has an average rating of "Moderate Buy" and a consensus price target of $41.45.
Insiders Place Their Bets
In other news, COO Samuel Zales sold 17,707 shares of the company's stock in a transaction that occurred on Thursday, July 21st. The shares were sold at an average price of $25.02, for a total value of $443,029.14. Following the completion of the sale, the chief operating officer now owns 392,587 shares of the company's stock, valued at approximately $9,822,526.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 14.80% of the company's stock.