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.
Analysts Set New Price Targets
A number of research analysts have recently commented on CARG shares. Oppenheimer cut their price objective on shares of CarGurus from $38.00 to $32.00 and set a "buy" rating for the company in a research report on Tuesday, August 9th. Needham & Company LLC dropped their price target on shares of CarGurus from $32.00 to $27.00 and set a "buy" rating for the company in a research report on Tuesday, August 9th. Raymond James dropped their price target on shares of CarGurus from $34.00 to $28.00 and set an "outperform" rating for the company in a research report on Tuesday, August 9th. JMP Securities assumed coverage on shares of CarGurus in a research report on Thursday, June 30th. They issued a "market perform" rating for the company. Finally, DA Davidson dropped their price target on shares of CarGurus from $34.00 to $30.00 and set a "neutral" rating for the company in a research report on Tuesday, August 9th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $35.00.
CarGurus Trading Down 0.9 %
Shares of CARG traded down $0.19 during mid-day trading on Thursday, hitting $19.89. 14,165 shares of the company traded hands, compared to its average volume of 1,438,029. CarGurus has a one year low of $19.05 and a one year high of $50.03. The business has a 50-day moving average of $22.84 and a 200 day moving average of $30.99. The stock has a market capitalization of $2.36 billion, a price-to-earnings ratio of -18.94, a PEG ratio of 3.89 and a beta of 1.56.
CarGurus (NASDAQ:CARG - Get Rating) last released its quarterly earnings results on Monday, August 8th. The company reported $0.32 EPS for the quarter, beating the consensus estimate of $0.31 by $0.01. CarGurus had a negative net margin of 0.90% and a positive return on equity of 20.37%. The business had revenue of $511.20 million for the quarter, compared to analysts' expectations of $507.31 million. During the same period in the prior year, the firm earned $0.29 earnings per share. CarGurus's revenue was up 134.7% compared to the same quarter last year. As a group, analysts anticipate that CarGurus will post 0.41 earnings per share for the current year.
Insider Activity
In other news, COO Samuel Zales sold 17,707 shares of the 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 sale, the chief operating officer now directly owns 392,587 shares of the company's stock, valued at $9,822,526.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 14.80% of the stock is owned by insiders.