Brokerages Set CarGurus, Inc. (NASDAQ:CARG) Price Target at $26.13

Shares of CarGurus, Inc. (NASDAQ:CARG) have been given a consensus rating of “Moderate Buy” by the ten ratings firms that are currently covering the firm, Marketbeat Ratings reports. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $26.13.

Several analysts have issued reports on the stock. Royal Bank of Canada increased their target price on shares of CarGurus from $26.00 to $27.00 and gave the stock an “outperform” rating in a research note on Friday, May 10th. JPMorgan Chase & Co. raised their price objective on shares of CarGurus from $27.00 to $29.00 and gave the company an “overweight” rating in a research report on Friday, May 10th. UBS Group raised their price objective on shares of CarGurus from $26.00 to $27.00 and gave the company a “neutral” rating in a research report on Friday, March 15th. DA Davidson raised their price objective on shares of CarGurus from $22.00 to $25.50 and gave the company a “neutral” rating in a research report on Monday, May 13th. Finally, Oppenheimer raised their price objective on shares of CarGurus from $26.00 to $30.00 and gave the company an “outperform” rating in a research report on Tuesday, February 27th.

CarGurus Price Performance

NASDAQ CARG opened at $25.20 on Wednesday. CarGurus has a 1 year low of $16.70 and a 1 year high of $26.90. The stock has a market capitalization of $2.63 billion, a PE ratio of 90.00, a P/E/G ratio of 1.47 and a beta of 1.55. The company’s 50 day simple moving average is $23.81 and its two-hundred day simple moving average is $23.38.

CarGurus (NASDAQ:CARG) last posted its earnings results on Thursday, May 9th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.03. CarGurus had a net margin of 4.04% and a return on equity of 8.80%. The business had revenue of $215.80 million for the quarter, compared to analysts’ expectations of $217.29 million. On average, research analysts anticipate that CarGurus will post 0.98 EPS for the current year.

Insider Activity at CarGurus

In related news, General Counsel Javier Esquivel Zamora sold 6,680 shares of the stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $25.00, for a total transaction of $167,000.00. Following the transaction, the general counsel now owns 102,130 shares of the company’s stock, valued at approximately $2,553,250. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other CarGurus news, General Counsel Javier Esquivel Zamora sold 6,680 shares of the firm’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $25.00, for a total value of $167,000.00. Following the sale, the general counsel now owns 102,130 shares of the company’s stock, valued at approximately $2,553,250. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CMO Dafna Sarnoff sold 4,301 shares of the firm’s stock in a transaction on Monday, April 1st. The stock was sold at an average price of $23.04, for a total transaction of $99,095.04. Following the completion of the sale, the chief marketing officer now directly owns 163,798 shares in the company, valued at approximately $3,773,905.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 76,317 shares of company stock valued at $1,831,473. Insiders own 17.20% of the company’s stock.

Institutional Investors Weigh In On CarGurus

Large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC bought a new stake in CarGurus in the 4th quarter worth $32,000. Acadian Asset Management LLC bought a new stake in shares of CarGurus during the 3rd quarter valued at about $32,000. Headlands Technologies LLC bought a new stake in shares of CarGurus during the 1st quarter valued at about $49,000. Daiwa Securities Group Inc. bought a new stake in shares of CarGurus during the 4th quarter valued at about $65,000. Finally, EntryPoint Capital LLC boosted its stake in shares of CarGurus by 358.2% during the 1st quarter. EntryPoint Capital LLC now owns 4,596 shares of the company’s stock valued at $106,000 after purchasing an additional 3,593 shares in the last quarter. Institutional investors own 86.90% of the company’s stock.

About CarGurus

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.