CarGurus (NASDAQ:CARG) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

CarGurus (NASDAQ:CARG) had its target price upped by equities researchers at JPMorgan Chase & Co. from $40.00 to $42.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 37.63% from the company’s current price.

Several other analysts also recently weighed in on CARG. DA Davidson lifted their price target on shares of CarGurus from $26.50 to $38.50 and gave the company a “neutral” rating in a research note on Friday, November 8th. Needham & Company LLC reaffirmed a “buy” rating and set a $45.00 price target on shares of CarGurus in a research note on Friday. B. Riley lifted their price target on shares of CarGurus from $30.00 to $40.00 and gave the company a “buy” rating in a research note on Monday, November 11th. JMP Securities reissued a “market outperform” rating and issued a $46.00 price objective on shares of CarGurus in a research note on Monday, December 16th. Finally, Oppenheimer boosted their price objective on shares of CarGurus from $32.00 to $44.00 and gave the stock an “outperform” rating in a research note on Friday, November 8th. Two investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, CarGurus has an average rating of “Moderate Buy” and an average price target of $38.59.

CarGurus Stock Down 18.8 %

CarGurus stock traded down $7.07 during midday trading on Friday, reaching $30.52. The stock had a trading volume of 431,793 shares, compared to its average volume of 743,149. CarGurus has a 52-week low of $21.18 and a 52-week high of $41.33. The firm has a market cap of $3.16 billion, a price-to-earnings ratio of -66.89, a price-to-earnings-growth ratio of 1.74 and a beta of 1.59. The company has a fifty day moving average of $37.94 and a 200 day moving average of $33.60.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.06). CarGurus had a positive return on equity of 13.96% and a negative net margin of 5.47%. The firm had revenue of $228.54 million during the quarter, compared to analysts’ expectations of $231.72 million. Equities research analysts predict that CarGurus will post 1.25 EPS for the current year.

Insiders Place Their Bets

In other CarGurus news, CEO Zachary Emerson Hallowell sold 4,580 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $35.78, for a total value of $163,872.40. Following the completion of the transaction, the chief executive officer now owns 120,051 shares in the company, valued at approximately $4,295,424.78. This represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Samuel Zales sold 20,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $38.36, for a total transaction of $767,200.00. Following the transaction, the chief operating officer now owns 400,025 shares of the company’s stock, valued at approximately $15,344,959. This trade represents a 4.76 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 59,388 shares of company stock worth $2,204,338. Company insiders own 17.20% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Point72 Hong Kong Ltd acquired a new position in shares of CarGurus during the 3rd quarter worth about $28,000. Signaturefd LLC raised its position in shares of CarGurus by 81.3% during the 3rd quarter. Signaturefd LLC now owns 959 shares of the company’s stock worth $29,000 after purchasing an additional 430 shares during the last quarter. Global Retirement Partners LLC raised its position in shares of CarGurus by 198.5% during the 4th quarter. Global Retirement Partners LLC now owns 800 shares of the company’s stock worth $29,000 after purchasing an additional 532 shares during the last quarter. Fifth Third Bancorp raised its position in shares of CarGurus by 100.0% during the 4th quarter. Fifth Third Bancorp now owns 912 shares of the company’s stock worth $33,000 after purchasing an additional 456 shares during the last quarter. Finally, Principal Securities Inc. grew its stake in CarGurus by 82.7% during the 4th quarter. Principal Securities Inc. now owns 937 shares of the company’s stock valued at $34,000 after acquiring an additional 424 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

CarGurus Company Profile

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.