CarGurus, Inc. (CARG) Given Average Rating of “Hold” by Brokerages
Shares of CarGurus, Inc. (NASDAQ:CARG) have been assigned a consensus broker rating score of 2.50 (Hold) from the four brokers that cover the stock, Zacks Investment Research reports. Three equities research analysts have rated the stock with a hold recommendation and one has issued a strong buy recommendation on the company.
Brokers have set a one year consensus price target of $34.00 for the company, according to Zacks. Zacks has also assigned CarGurus an industry rank of 240 out of 265 based on the ratings given to its competitors.
Several brokerages recently issued reports on CARG. Raymond James Financial began coverage on CarGurus in a research report on Monday, November 6th. They set a “market perform” rating for the company. William Blair began coverage on CarGurus in a research report on Monday, November 6th. They set an “outperform” rating for the company. Royal Bank of Canada began coverage on CarGurus in a research report on Monday, November 6th. They set a “sector perform” rating and a $33.00 target price for the company. JMP Securities began coverage on CarGurus in a research report on Monday, November 6th. They set a “market perform” rating for the company. Finally, Goldman Sachs Group assumed coverage on CarGurus in a research report on Monday, November 6th. They set a “neutral” rating and a $25.00 target price for the company.
CarGurus (NASDAQ:CARG) last announced its quarterly earnings results on Tuesday, November 14th. The company reported $0.02 EPS for the quarter. The firm had revenue of $83.00 million during the quarter, compared to the consensus estimate of $79.23 million. The company’s revenue for the quarter was up 56.3% on a year-over-year basis. sell-side analysts forecast that CarGurus will post 0.11 EPS for the current fiscal year.
In other news, Director David Lambert Parker sold 269,871 shares of the firm’s stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $14.88, for a total value of $4,015,680.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Oliver Ian Chrzan sold 270,793 shares of the firm’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $14.88, for a total value of $4,029,399.84. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,454,188 shares of company stock valued at $81,158,317.
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CarGurus Company Profile
CarGurus, Inc is an online automotive marketplace connecting buyers and sellers of new and used cars. Using proprietary technology, search algorithms, and data analytics. The Company’s marketplace empowers users with unbiased third-party validation on pricing and dealer reputation as well as other information that aids them in finding Great Deals from Great Dealers.
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