CarGurus Inc (NASDAQ:CARG) Receives Consensus Rating of “Buy” from Analysts

CarGurus Inc (NASDAQ:CARG) has earned a consensus recommendation of “Buy” from the fifteen ratings firms that are presently covering the company, Marketbeat Ratings reports. Three analysts have rated the stock with a hold recommendation and eleven have assigned a buy recommendation to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $49.73.

CARG has been the topic of several research reports. Zacks Investment Research upgraded shares of CarGurus from a “hold” rating to a “buy” rating and set a $43.00 price objective on the stock in a research note on Friday, March 29th. DA Davidson set a $54.00 price objective on shares of CarGurus and gave the company a “buy” rating in a research note on Tuesday, March 26th. Benchmark reiterated a “buy” rating and issued a $50.00 price objective on shares of CarGurus in a research note on Friday, March 1st. Citigroup upped their price objective on shares of CarGurus from $45.00 to $52.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Finally, Goldman Sachs Group upgraded shares of CarGurus from a “neutral” rating to a “buy” rating and upped their price objective for the company from $43.00 to $48.00 in a research note on Monday, March 18th.

In other news, CEO Langley Steinert sold 117,406 shares of the stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $40.10, for a total transaction of $4,707,980.60. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Anastasios Parafestas sold 151,519 shares of the stock in a transaction on Tuesday, March 19th. The stock was sold at an average price of $39.16, for a total transaction of $5,933,484.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,209,113 shares of company stock worth $123,229,197. 34.51% of the stock is currently owned by company insiders.

Institutional investors and hedge funds have recently made changes to their positions in the company. NumerixS Investment Technologies Inc acquired a new position in shares of CarGurus during the 4th quarter worth $30,000. Advisor Group Inc. increased its stake in shares of CarGurus by 281.2% during the 1st quarter. Advisor Group Inc. now owns 770 shares of the company’s stock worth $31,000 after purchasing an additional 568 shares during the last quarter. Quantamental Technologies LLC acquired a new position in shares of CarGurus during the 4th quarter worth $78,000. DekaBank Deutsche Girozentrale acquired a new position in shares of CarGurus during the 1st quarter worth $136,000. Finally, NEXT Financial Group Inc increased its stake in shares of CarGurus by 50.1% during the 4th quarter. NEXT Financial Group Inc now owns 5,555 shares of the company’s stock worth $187,000 after purchasing an additional 1,855 shares during the last quarter. Institutional investors own 74.84% of the company’s stock.

Shares of NASDAQ:CARG traded down $0.04 during mid-day trading on Friday, hitting $35.65. The stock had a trading volume of 478,198 shares, compared to its average volume of 841,446. The company has a debt-to-equity ratio of 0.25, a quick ratio of 2.74 and a current ratio of 2.74. The company has a market cap of $3.91 billion, a PE ratio of 62.54, a price-to-earnings-growth ratio of 6.92 and a beta of 1.95. CarGurus has a 12-month low of $30.29 and a 12-month high of $57.25.

CarGurus (NASDAQ:CARG) last released its quarterly earnings data on Thursday, May 9th. The company reported $0.12 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.09. The firm had revenue of $135.30 million for the quarter, compared to analyst estimates of $129.54 million. CarGurus had a net margin of 13.94% and a return on equity of 18.43%. The company’s revenue for the quarter was up 37.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.06 EPS. On average, equities analysts predict that CarGurus will post 0.23 earnings per share for the current year.

About CarGurus

CarGurus, Inc operates an online automotive marketplace connecting buyers and sellers of new and used cars in the United States, Canada, the United Kingdom, Germany, Italy, and Spain. The company provides consumers an online automotive marketplace where they can search for new and used car listings from its dealers, as well as sell their car in the United States marketplace.

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Analyst Recommendations for CarGurus (NASDAQ:CARG)

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