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 Price Performance
Shares of CARG traded up $0.36 during mid-day trading on Tuesday, hitting $20.76. 3,860,606 shares of the company's stock were exchanged, compared to its average volume of 1,228,536. The company has a market cap of $2.46 billion, a PE ratio of -19.95, a P/E/G ratio of 2.63 and a beta of 1.56. CarGurus has a 52 week low of $19.05 and a 52 week high of $50.03. The company has a 50-day simple moving average of $23.04 and a 200 day simple moving average of $31.14.
CarGurus (NASDAQ:CARG - Get Rating) last issued its quarterly earnings results on Monday, August 8th. The company reported $0.32 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.01. The company had revenue of $511.20 million during the quarter, compared to analysts' expectations of $507.31 million. CarGurus had a negative net margin of 0.90% and a positive return on equity of 20.37%. The business's quarterly revenue was up 134.7% on a year-over-year basis. During the same period last year, the business earned $0.29 EPS. On average, analysts anticipate that CarGurus will post 0.59 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on the stock. Royal Bank of Canada cut their target price on shares of CarGurus from $45.00 to $35.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 9th. BTIG Research lowered their price target on CarGurus to $30.00 in a research note on Monday. JMP Securities assumed coverage on CarGurus in a research note on Thursday, June 30th. They issued a "market perform" rating for the company. Truist Financial lowered their price target on CarGurus from $44.00 to $38.00 and set a "buy" rating for the company in a research note on Tuesday, August 9th. Finally, Needham & Company LLC lowered their price target on CarGurus from $32.00 to $27.00 and set a "buy" rating for the company in a research note on Tuesday, August 9th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $35.00.
Insider Transactions at CarGurus
In other news, COO Samuel Zales sold 17,707 shares of the firm'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 transaction of $443,029.14. Following the completion of the transaction, the chief operating officer now directly owns 392,587 shares of the company's stock, valued at approximately $9,822,526.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 14.80% of the company's stock.