CarGurus (NASDAQ:CARG) Receives “Buy” Rating from Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of CarGurus (NASDAQ:CARG) in a report issued on Friday,Benzinga reports. They currently have a $45.00 price objective on the stock.

CARG has been the subject of several other reports. B. Riley boosted their price objective on CarGurus from $30.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, November 11th. DA Davidson boosted their target price on CarGurus from $26.50 to $38.50 and gave the stock a “neutral” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. boosted their target price on CarGurus from $36.00 to $40.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Oppenheimer boosted their target price on CarGurus from $32.00 to $44.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Finally, Citigroup upgraded CarGurus from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. 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, the stock currently has an average rating of “Moderate Buy” and an average price target of $38.59.

CarGurus Trading Down 17.1 %

Shares of NASDAQ:CARG opened at $31.15 on Friday. The stock has a market capitalization of $3.23 billion, a P/E ratio of -67.72, a P/E/G ratio of 1.74 and a beta of 1.59. CarGurus has a 1-year low of $21.18 and a 1-year high of $41.33. The business has a 50-day moving average price of $37.81 and a two-hundred day moving average price of $33.67.

CarGurus (NASDAQ:CARG) last announced 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). The firm had revenue of $228.54 million for the quarter, compared to the consensus estimate of $231.72 million. CarGurus had a positive return on equity of 13.96% and a negative net margin of 5.47%. As a group, equities analysts predict that CarGurus will post 1.25 EPS for the current year.

Insider Buying and Selling at CarGurus

In other CarGurus news, CTO Matthew Todd Quinn sold 4,678 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $35.78, for a total value of $167,378.84. Following the sale, the chief technology officer now owns 195,795 shares in the company, valued at approximately $7,005,545.10. The trade was a 2.33 % decrease in their position. The transaction 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 business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $38.36, for a total value of $767,200.00. Following the completion of the sale, the chief operating officer now owns 400,025 shares in the company, valued at $15,344,959. The trade was a 4.76 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 59,388 shares of company stock worth $2,204,338. Corporate insiders own 17.20% of the company’s stock.

Institutional Investors Weigh In On CarGurus

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of CarGurus by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 9,686,886 shares of the company’s stock worth $353,959,000 after purchasing an additional 225,430 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of CarGurus by 12.7% during the 4th quarter. Wellington Management Group LLP now owns 7,145,350 shares of the company’s stock worth $261,091,000 after purchasing an additional 802,602 shares in the last quarter. State Street Corp raised its stake in shares of CarGurus by 4.8% during the 3rd quarter. State Street Corp now owns 3,298,894 shares of the company’s stock worth $99,066,000 after purchasing an additional 151,862 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of CarGurus by 3.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,055,145 shares of the company’s stock worth $61,728,000 after purchasing an additional 74,730 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of CarGurus by 168.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,524,478 shares of the company’s stock worth $55,704,000 after purchasing an additional 957,035 shares in the last quarter. Institutional investors 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.