JPMorgan Chase & Co. Issues Positive Forecast for CarGurus (NASDAQ:CARG) Stock Price

CarGurus (NASDAQ:CARG) had its price objective boosted by JPMorgan Chase & Co. from $36.00 to $38.00 in a report published on Friday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other research firms have also commented on CARG. DA Davidson lowered their price target on CarGurus from $37.50 to $33.50 and set a “neutral” rating for the company in a research report on Friday, February 20th. Wall Street Zen lowered CarGurus from a “buy” rating to a “hold” rating in a research report on Sunday, February 15th. Needham & Company LLC upped their price target on CarGurus from $37.00 to $43.00 and gave the company a “buy” rating in a research report on Friday. BTIG Research decreased their target price on CarGurus from $44.00 to $37.00 and set a “buy” rating for the company in a research report on Friday, February 20th. Finally, Oppenheimer decreased their target price on CarGurus from $40.00 to $38.00 and set an “outperform” rating for the company in a research report on Tuesday, February 24th. Five investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $38.14.

CarGurus Price Performance

CARG opened at $34.74 on Friday. The business has a 50 day simple moving average of $34.59 and a two-hundred day simple moving average of $34.63. The firm has a market capitalization of $3.31 billion, a price-to-earnings ratio of 22.86, a PEG ratio of 1.42 and a beta of 1.28. CarGurus has a one year low of $26.39 and a one year high of $39.42.

CarGurus (NASDAQ:CARG) last released its quarterly earnings results on Thursday, May 7th. The company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.02. The business had revenue of $243.56 million during the quarter, compared to analyst estimates of $243.12 million. CarGurus had a return on equity of 48.98% and a net margin of 15.57%.CarGurus’s quarterly revenue was up 8.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.46 EPS. CarGurus has set its Q2 2026 guidance at 0.570-0.640 EPS. As a group, sell-side analysts expect that CarGurus will post 2.06 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Jennifer Ladd Hanson sold 2,499 shares of the firm’s stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $35.61, for a total transaction of $88,989.39. Following the completion of the transaction, the insider owned 98,191 shares of the company’s stock, valued at $3,496,581.51. This trade represents a 2.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Stephen Kaufer acquired 30,766 shares of CarGurus stock in a transaction that occurred on Tuesday, March 3rd. The shares were bought at an average cost of $32.50 per share, with a total value of $999,895.00. Following the transaction, the director owned 323,939 shares in the company, valued at $10,528,017.50. This represents a 10.49% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders sold 12,852 shares of company stock worth $431,053 in the last 90 days. Corporate insiders own 16.99% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in CARG. Royal Bank of Canada increased its position in CarGurus by 22.6% during the 1st quarter. Royal Bank of Canada now owns 75,072 shares of the company’s stock valued at $2,186,000 after buying an additional 13,834 shares in the last quarter. AQR Capital Management LLC increased its position in CarGurus by 25.4% during the 1st quarter. AQR Capital Management LLC now owns 25,946 shares of the company’s stock valued at $756,000 after buying an additional 5,259 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in CarGurus by 3.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,845 shares of the company’s stock valued at $1,889,000 after buying an additional 1,890 shares in the last quarter. Jane Street Group LLC boosted its stake in CarGurus by 113.0% during the 1st quarter. Jane Street Group LLC now owns 123,305 shares of the company’s stock valued at $3,592,000 after purchasing an additional 65,420 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in CarGurus during the 2nd quarter valued at $87,000. Institutional investors own 86.90% of the company’s stock.

CarGurus News Summary

Here are the key news stories impacting CarGurus this week:

• Positive Sentiment: CarGurus reported Q1 2026 EPS of $0.58, topping estimates, while revenue of $243.6 million was also slightly above expectations and up 8.2% year over year. Q1 Earnings Report and Conference Call
• Positive Sentiment: The company said Q1 adjusted EBITDA came in above the high end of guidance, and it repurchased $175 million of stock during the quarter, signaling strong cash generation and capital return. CarGurus Announces First Quarter 2026 Results
• Positive Sentiment: Needham raised its price target on CarGurus from $37 to $43 and kept a Buy rating, while JPMorgan also lifted its target from $36 to $38, reinforcing optimism around the stock. Analyst price target updates
• Neutral Sentiment: CarGurus’ Q2 guidance calls for EPS of $0.57 to $0.64 and revenue of $247 million to $252 million, which is broadly in line with Street expectations and suggests steady near-term growth. Q1 Results and Guidance
• Negative Sentiment: Despite the earnings beat, some market commentary noted the stock sold off after the report, suggesting investors may be focusing on guidance and valuation rather than just the headline beat. Market reaction article

About CarGurus

CarGurus, Inc operates an online automotive marketplace designed to connect buyers and sellers of new and used vehicles. Through its proprietary search engine and data-driven pricing tools, the platform enables consumers to compare listings, assess fair market values and locate local dealers offering competitive deals. CarGurus also provides detailed vehicle history reports, dealer reviews and financing options to streamline the car-shopping process for both private parties and franchised dealerships.

The company’s core product offerings include Instant Market Value (IMV), which leverages pricing algorithms to help buyers identify over- or under-priced vehicles, as well as dealer subscription services that grant automotive retailers access to lead generation tools, targeted advertising and dynamic pricing insights.