CarGurus, Inc. (NASDAQ:CARG) Receives $38.41 Consensus Target Price from Brokerages

CarGurus, Inc. (NASDAQ:CARGGet Free Report) has been assigned an average rating of “Moderate Buy” from the eleven analysts that are covering the company, MarketBeat reports. Two 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. The average 12-month target price among brokers that have issued a report on the stock in the last year is $38.41.

CARG has been the subject of several research analyst reports. JMP Securities reaffirmed a “market outperform” rating and issued a $46.00 price target on shares of CarGurus in a research note on Monday, December 16th. DA Davidson boosted their target price on CarGurus from $26.50 to $38.50 and gave the company a “neutral” rating in a research report on Friday, November 8th. JPMorgan Chase & Co. increased their price target on CarGurus from $36.00 to $40.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Jefferies Financial Group boosted their price objective on CarGurus from $35.00 to $38.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Finally, BTIG Research increased their target price on CarGurus from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd.

View Our Latest Report on CarGurus

Insider Buying and Selling at CarGurus

In other CarGurus news, CEO Zachary Emerson Hallowell sold 4,580 shares of the 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 sale, the chief executive officer now owns 120,051 shares in the company, valued at approximately $4,295,424.78. This trade represents a 3.67 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Jason Trevisan sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $35.41, for a total value of $354,100.00. Following the completion of the transaction, the chief executive officer now owns 779,606 shares in the company, valued at $27,605,848.46. The trade was a 1.27 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 94,556 shares of company stock worth $3,450,140. Corporate insiders own 17.20% of the company’s stock.

Institutional Trading of CarGurus

Hedge funds have recently bought and sold shares of the business. State Street Corp increased its position 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 valued at $99,066,000 after purchasing an additional 151,862 shares during the last quarter. Geode Capital Management LLC grew its position in CarGurus by 3.8% during the third quarter. Geode Capital Management LLC now owns 2,055,145 shares of the company’s stock valued at $61,728,000 after buying an additional 74,730 shares during the period. Prevatt Capital Ltd increased its holdings in CarGurus by 7.0% during the third quarter. Prevatt Capital Ltd now owns 1,230,000 shares of the company’s stock worth $36,937,000 after buying an additional 80,000 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in CarGurus by 9.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,043,217 shares of the company’s stock worth $31,328,000 after acquiring an additional 89,815 shares during the period. Finally, Loomis Sayles & Co. L P purchased a new position in CarGurus in the third quarter valued at about $21,052,000. 86.90% of the stock is currently owned by institutional investors.

CarGurus Stock Up 1.4 %

NASDAQ:CARG opened at $39.60 on Thursday. CarGurus has a twelve month low of $21.18 and a twelve month high of $41.33. The company has a fifty day moving average of $37.66 and a 200-day moving average of $32.56. The firm has a market capitalization of $4.11 billion, a P/E ratio of -86.09, a P/E/G ratio of 1.80 and a beta of 1.59.

CarGurus Company Profile

(Get Free Report

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.

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Analyst Recommendations for CarGurus (NASDAQ:CARG)

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