Zacks: Analysts Expect CarGurus Inc (NASDAQ:CARG) Will Post Quarterly Sales of $148.17 Million

Equities analysts expect CarGurus Inc (NASDAQ:CARG) to post sales of $148.17 million for the current fiscal quarter, according to Zacks Investment Research. Six analysts have issued estimates for CarGurus’ earnings, with estimates ranging from $146.52 million to $151.20 million. CarGurus posted sales of $119.04 million in the same quarter last year, which suggests a positive year-over-year growth rate of 24.5%. The company is scheduled to report its next quarterly earnings report on Wednesday, November 6th.

On average, analysts expect that CarGurus will report full-year sales of $583.13 million for the current financial year, with estimates ranging from $579.24 million to $589.00 million. For the next financial year, analysts expect that the business will post sales of $704.21 million, with estimates ranging from $682.65 million to $717.80 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of research firms that that provide coverage for CarGurus.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.07 by $0.03. The firm had revenue of $145.03 million for the quarter, compared to the consensus estimate of $140.67 million. CarGurus had a net margin of 8.22% and a return on equity of 17.12%. The business’s revenue was up 31.5% compared to the same quarter last year. During the same period last year, the firm posted $0.06 earnings per share.

CARG has been the topic of several research reports. Cowen initiated coverage on shares of CarGurus in a research note on Monday, May 20th. They set a “market perform” rating and a $42.00 price target on the stock. JMP Securities decreased their price target on shares of CarGurus to $50.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. ValuEngine raised shares of CarGurus from a “hold” rating to a “buy” rating in a research note on Tuesday, August 6th. Benchmark reissued a “buy” rating and set a $51.00 price target on shares of CarGurus in a research note on Friday, May 10th. Finally, Zacks Investment Research raised shares of CarGurus from a “hold” rating to a “strong-buy” rating and set a $39.00 price target on the stock in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. CarGurus currently has an average rating of “Buy” and a consensus price target of $48.42.

Shares of CARG stock traded down $0.37 during trading hours on Thursday, hitting $31.74. 387,577 shares of the company’s stock were exchanged, compared to its average volume of 872,757. The company has a market capitalization of $4.13 billion, a PE ratio of 55.68, a PEG ratio of 3.49 and a beta of 1.83. CarGurus has a 12-month low of $30.22 and a 12-month high of $57.25. The business’s 50 day simple moving average is $35.12 and its 200-day simple moving average is $37.65. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 0.23.

In other CarGurus news, General Counsel Kathleen Bender Patton sold 4,683 shares of the business’s stock in a transaction on Thursday, May 23rd. The shares were sold at an average price of $35.43, for a total transaction of $165,918.69. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Anastasios Parafestas sold 20,000 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $31.12, for a total transaction of $622,400.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,762,971 shares of company stock worth $98,931,941. 34.51% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of the business. FMR LLC increased its position in CarGurus by 0.7% during the 1st quarter. FMR LLC now owns 10,915,766 shares of the company’s stock valued at $437,286,000 after purchasing an additional 79,685 shares during the period. The Manufacturers Life Insurance Company increased its position in CarGurus by 4.1% during the 1st quarter. The Manufacturers Life Insurance Company now owns 7,494,720 shares of the company’s stock valued at $300,238,000 after purchasing an additional 295,775 shares during the period. Vanguard Group Inc. increased its position in CarGurus by 10.1% during the 2nd quarter. Vanguard Group Inc. now owns 5,585,376 shares of the company’s stock valued at $201,687,000 after purchasing an additional 512,647 shares during the period. BlackRock Inc. increased its position in CarGurus by 46.1% during the 2nd quarter. BlackRock Inc. now owns 5,176,925 shares of the company’s stock valued at $186,939,000 after purchasing an additional 1,632,759 shares during the period. Finally, HMI Capital LLC purchased a new position in CarGurus during the 2nd quarter valued at $45,149,000. 66.83% of the stock is currently owned by institutional investors and hedge funds.

CarGurus Company Profile

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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Earnings History and Estimates for CarGurus (NASDAQ:CARG)

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