CarGurus (NASDAQ:CARG) PT Raised to $38.00

CarGurus (NASDAQ:CARG) had its price objective lifted by Jefferies Financial Group from $35.00 to $38.00 in a research note published on Tuesday morning, Benzinga reports. The firm currently has a buy rating on the stock.

A number of other brokerages have also issued reports on CARG. BTIG Research raised their target price on CarGurus from $28.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Needham & Company LLC lifted their price objective on CarGurus from $25.00 to $27.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Royal Bank of Canada lifted their price objective on CarGurus from $27.00 to $30.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Oppenheimer raised their target price on shares of CarGurus from $30.00 to $32.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $32.00 price target on shares of CarGurus in a research report on Monday, September 9th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $30.59.

CarGurus Stock Performance

CARG opened at $32.15 on Tuesday. CarGurus has a one year low of $16.70 and a one year high of $32.36. The stock has a market cap of $3.35 billion, a price-to-earnings ratio of 114.82, a P/E/G ratio of 1.48 and a beta of 1.56. The stock’s 50 day moving average price is $29.47 and its 200-day moving average price is $26.15.

CarGurus (NASDAQ:CARG) last announced its earnings results on Thursday, August 8th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.07. CarGurus had a positive return on equity of 11.06% and a negative net margin of 5.57%. The business had revenue of $218.69 million for the quarter, compared to analysts’ expectations of $214.85 million. As a group, analysts predict that CarGurus will post 1.18 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other CarGurus news, COO Samuel Zales sold 25,168 shares of CarGurus stock in a transaction on Wednesday, October 16th. The shares were sold at an average price of $31.62, for a total value of $795,812.16. Following the transaction, the chief operating officer now owns 449,821 shares in the company, valued at $14,223,340.02. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, COO Samuel Zales sold 25,168 shares of CarGurus stock in a transaction 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 transaction, the chief operating officer now owns 449,821 shares in the company, valued at approximately $14,223,340.02. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CMO Dafna Sarnoff sold 3,107 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was 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 owns 128,952 shares in the company, valued at $3,664,815.84. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 61,065 shares of company stock valued at $1,823,794. Company 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. Signaturefd LLC lifted its stake in shares of CarGurus by 81.3% in the 3rd quarter. Signaturefd LLC now owns 959 shares of the company’s stock worth $29,000 after acquiring an additional 430 shares during the period. Kathleen S. Wright Associates Inc. acquired a new position in CarGurus in the 3rd quarter valued at approximately $30,000. CWM LLC increased its stake in CarGurus by 54.1% in the 2nd quarter. CWM LLC now owns 1,381 shares of the company’s stock valued at $36,000 after buying an additional 485 shares during the period. Nisa Investment Advisors LLC increased 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 valued at $41,000 after buying an additional 479 shares during the period. Finally, GAMMA Investing LLC increased its stake in shares of CarGurus by 25.9% during the 2nd quarter. GAMMA Investing LLC now owns 2,066 shares of the company’s stock worth $54,000 after purchasing an additional 425 shares during the last quarter. Institutional investors own 86.90% of the company’s stock.

About CarGurus

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.