CarGurus, Inc. (NASDAQ:CARG) Given Average Recommendation of “Buy” by Brokerages

CarGurus, Inc. (NASDAQ:CARG) has earned a consensus rating of “Buy” from the ten analysts that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price objective among brokers that have issued ratings on the stock in the last year is $39.55.

CARG has been the topic of several research analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $45.00 price objective on shares of CarGurus in a research report on Friday, February 21st. JPMorgan Chase & Co. lifted their target price on shares of CarGurus from $40.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday, February 21st. Oppenheimer decreased their target price on shares of CarGurus from $44.00 to $42.00 and set an “outperform” rating for the company in a research note on Monday, February 24th. Finally, JMP Securities reissued a “market outperform” rating and set a $46.00 target price on shares of CarGurus in a research note on Monday, December 16th.

Insider Activity at CarGurus

In other CarGurus news, CMO Dafna Sarnoff sold 10,570 shares of the business’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $35.78, for a total transaction of $378,194.60. Following the completion of the transaction, the chief marketing officer now owns 95,261 shares of the company’s stock, valued at $3,408,438.58. The trade was a 9.99 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Samuel Zales sold 20,000 shares of the business’s stock in a transaction on 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 directly owns 400,025 shares of the company’s stock, valued at approximately $15,344,959. This represents a 4.76 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 61,888 shares of company stock valued at $2,229,388. Insiders own 17.20% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Point72 Hong Kong Ltd acquired a new position in CarGurus during the 3rd quarter worth $28,000. Global Retirement Partners LLC increased its holdings 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 period. Fifth Third Bancorp increased its holdings 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 period. Principal Securities Inc. increased its holdings in shares of CarGurus by 82.7% during the 4th quarter. Principal Securities Inc. now owns 937 shares of the company’s stock worth $34,000 after purchasing an additional 424 shares during the period. Finally, USA Financial Formulas bought a new position in shares of CarGurus during the 4th quarter worth about $35,000. Institutional investors and hedge funds own 86.90% of the company’s stock.

CarGurus Stock Performance

NASDAQ CARG opened at $29.87 on Friday. CarGurus has a twelve month low of $21.18 and a twelve month high of $41.33. The stock has a market cap of $3.12 billion, a price-to-earnings ratio of 165.95, a PEG ratio of 1.72 and a beta of 1.52. The firm’s 50 day moving average price is $35.69 and its two-hundred day moving average price is $34.16.

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 the consensus estimate of $0.50 by ($0.06). CarGurus had a return on equity of 27.14% and a net margin of 2.34%. The firm had revenue of $228.54 million for the quarter, compared to analysts’ expectations of $231.72 million. On average, research analysts forecast that CarGurus will post 1.41 EPS for the current fiscal year.

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.