CarGurus (NASDAQ:CARG) Issues Q1 Earnings Guidance

CarGurus (NASDAQ:CARG) updated its first quarter earnings guidance on Thursday. The company provided EPS guidance of $0.07-0.08 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.15. The company issued revenue guidance of $156.5-159.5 million, compared to the consensus revenue estimate of $163.59 million.CarGurus also updated its FY 2020
After-Hours guidance to 0.50-0.55 EPS.

Several research analysts have recently weighed in on CARG shares. TheStreet raised CarGurus from a d+ rating to a c- rating in a research note on Thursday, November 7th. BidaskClub downgraded CarGurus from a hold rating to a sell rating in a research note on Friday, February 7th. SunTrust Banks reaffirmed a buy rating and set a $55.00 target price (up from $54.00) on shares of CarGurus in a research note on Monday. Royal Bank of Canada reduced their target price on CarGurus to $50.00 and set an outperform rating for the company in a research note on Wednesday, November 6th. Finally, Zacks Investment Research downgraded CarGurus from a hold rating to a sell rating in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $48.80.

Shares of CARG traded down $0.34 during trading hours on Thursday, hitting $34.10. 1,572,858 shares of the stock were exchanged, compared to its average volume of 915,512. The company has a debt-to-equity ratio of 0.24, a quick ratio of 2.85 and a current ratio of 2.85. CarGurus has a 12-month low of $28.65 and a 12-month high of $45.25. The company has a market cap of $3.63 billion, a price-to-earnings ratio of 94.72, a price-to-earnings-growth ratio of 1.85 and a beta of 1.88. The stock’s 50-day moving average price is $35.70 and its two-hundred day moving average price is $34.76.

In related news, Director Anastasios Parafestas sold 65,102 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $39.41, for a total transaction of $2,565,669.82. Following the completion of the sale, the director now directly owns 10,618 shares in the company, valued at $418,455.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jason Trevisan sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $39.30, for a total value of $196,500.00. Following the sale, the chief financial officer now owns 322,810 shares of the company’s stock, valued at $12,686,433. The disclosure for this sale can be found here. Insiders have sold 771,554 shares of company stock valued at $29,405,072 over the last quarter. 34.51% of the stock is owned by company insiders.

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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