CarGurus (NASDAQ:CARG) Releases FY20 Earnings Guidance

CarGurus (NASDAQ:CARG) updated its FY20 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.50-0.55 for the period, compared to the Thomson Reuters consensus estimate of $0.66. The company issued revenue guidance of $664-676 million, compared to the consensus revenue estimate of $706.15 million.CarGurus also updated its FY 2020
After-Hours guidance to 0.50-0.55 EPS.

A number of research firms have recently weighed in on CARG. TheStreet upgraded CarGurus from a d+ rating to a c- rating in a report on Thursday, November 7th. SunTrust Banks reissued a buy rating and set a $55.00 target price (up previously from $54.00) on shares of CarGurus in a research note on Monday. Royal Bank of Canada decreased their target price on CarGurus to $50.00 and set an outperform rating on the stock in a research note on Wednesday, November 6th. BidaskClub lowered CarGurus from a hold rating to a sell rating in a research note on Friday, February 7th. Finally, Zacks Investment Research lowered 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 assigned a hold rating and ten have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $48.80.

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

In other CarGurus news, CMO Sarah Amory Welch sold 2,500 shares of the stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $36.80, for a total value of $92,000.00. Following the sale, the chief marketing officer now owns 161,299 shares of the company’s stock, valued at approximately $5,935,803.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Jason Trevisan sold 10,000 shares of the stock in a transaction dated Monday, January 27th. The shares were sold at an average price of $35.92, for a total value of $359,200.00. Following the completion of the sale, the chief financial officer now directly owns 313,594 shares in the company, valued at approximately $11,264,296.48. The disclosure for this sale can be found here. Insiders sold a total of 771,554 shares of company stock worth $29,405,072 in the last ninety days. 34.51% of the stock is owned by corporate insiders.

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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