Shares of CarGurus Inc (NASDAQ:CARG) have been assigned an average recommendation of “Hold” from the seven analysts that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $29.50.
Several equities analysts have commented on CARG shares. Royal Bank of Canada restated a “sector perform” rating and issued a $34.00 price target (up previously from $33.00) on shares of CarGurus in a research note on Wednesday, November 15th. BidaskClub downgraded shares of CarGurus from a “hold” rating to a “sell” rating in a research note on Friday, December 29th. Finally, Zacks Investment Research upgraded shares of CarGurus from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a research note on Monday, January 8th.
CarGurus (CARG) opened at $35.18 on Wednesday. CarGurus has a 12 month low of $25.85 and a 12 month high of $38.85.
Several institutional investors have recently added to or reduced their stakes in CARG. Spinnaker Capital LLC purchased a new stake in shares of CarGurus during the 4th quarter worth $410,972,000. Bollard Group LLC purchased a new stake in shares of CarGurus during the 4th quarter worth $318,223,000. The Manufacturers Life Insurance Company purchased a new stake in shares of CarGurus during the 4th quarter worth $100,212,000. Abdiel Capital Advisors LP purchased a new stake in shares of CarGurus during the 4th quarter worth $7,495,000. Finally, Clearbridge Investments LLC purchased a new stake in shares of CarGurus during the 4th quarter worth $6,752,000. 57.43% of the stock is owned by institutional investors and hedge funds.
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.
Receive News & Ratings for CarGurus Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CarGurus and related companies with MarketBeat.com's FREE daily email newsletter.