CarGurus, Inc. (NASDAQ:CARG) Receives Average Rating of “Moderate Buy” from Brokerages

Shares of CarGurus, Inc. (NASDAQ:CARG) have been given a consensus rating of “Moderate Buy” by the eleven research firms that are currently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $30.59.

Several equities analysts have recently weighed in on the company. Oppenheimer raised their price objective on CarGurus from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Citigroup lifted their price target on shares of CarGurus from $24.00 to $27.00 and gave the stock a “neutral” rating in a report on Wednesday, July 3rd. DA Davidson restated a “neutral” rating and issued a $26.50 target price on shares of CarGurus in a report on Tuesday, September 10th. Royal Bank of Canada boosted their target price on shares of CarGurus from $27.00 to $30.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Finally, Needham & Company LLC upped their price objective on shares of CarGurus from $25.00 to $27.00 and gave the company a “buy” rating in a report on Friday, August 9th.

Insiders Place Their Bets

In other news, CMO Dafna Sarnoff sold 3,107 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $28.42, for a total transaction of $88,300.94. Following the completion of the transaction, the chief marketing officer now directly owns 128,952 shares of the company’s stock, valued at $3,664,815.84. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO Samuel Zales sold 25,168 shares of the company’s stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $31.62, for a total transaction of $795,812.16. Following the sale, the chief operating officer now directly owns 449,821 shares in the company, valued at approximately $14,223,340.02. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CMO Dafna Sarnoff sold 3,107 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $28.42, for a total transaction of $88,300.94. Following the sale, the chief marketing officer now owns 128,952 shares in the company, valued at $3,664,815.84. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 61,065 shares of company stock valued at $1,823,794. Corporate insiders own 17.20% of the company’s stock.

Institutional Trading of CarGurus

A number of institutional investors have recently modified their holdings of CARG. Signaturefd LLC lifted its stake in CarGurus by 81.3% in the 3rd quarter. Signaturefd LLC now owns 959 shares of the company’s stock worth $29,000 after purchasing an additional 430 shares in the last quarter. Kathleen S. Wright Associates Inc. purchased a new stake in CarGurus in the 3rd quarter worth approximately $30,000. CWM LLC lifted its stake in CarGurus by 54.1% in the 2nd quarter. CWM LLC now owns 1,381 shares of the company’s stock worth $36,000 after purchasing an additional 485 shares in the last quarter. Nisa Investment Advisors LLC lifted its stake in CarGurus by 43.5% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,579 shares of the company’s stock worth $41,000 after purchasing an additional 479 shares in the last quarter. Finally, Headlands Technologies LLC purchased a new stake in CarGurus in the 1st quarter worth approximately $49,000. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

CarGurus Stock Down 1.9 %

CARG opened at $31.53 on Tuesday. CarGurus has a 12 month low of $16.70 and a 12 month high of $32.36. The company has a fifty day simple moving average of $29.54 and a 200 day simple moving average of $26.22. The stock has a market cap of $3.29 billion, a P/E ratio of 112.61, a P/E/G ratio of 1.48 and a beta of 1.56.

CarGurus (NASDAQ:CARG) last released its earnings results on Thursday, August 8th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.07. The firm had revenue of $218.69 million during the quarter, compared to analysts’ expectations of $214.85 million. CarGurus had a positive return on equity of 11.06% and a negative net margin of 5.57%. On average, equities research analysts expect that CarGurus will post 1.18 earnings per share 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.