CarGurus, Inc. (NASDAQ:CARG) Given Average Rating of “Moderate Buy” by Analysts

Shares of CarGurus, Inc. (NASDAQ:CARG) have been given a consensus recommendation of “Moderate Buy” by the nine analysts that are currently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $24.90.

CARG has been the subject of a number of recent research reports. JMP Securities reissued a “market perform” rating on shares of CarGurus in a report on Wednesday, April 17th. Oppenheimer increased their price target on CarGurus from $26.00 to $30.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 27th. UBS Group lifted their price objective on CarGurus from $26.00 to $27.00 and gave the company a “neutral” rating in a report on Friday, March 15th. Finally, Needham & Company LLC increased their target price on CarGurus from $22.00 to $24.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th.

Insider Buying and Selling at CarGurus

In other news, CMO Dafna Sarnoff sold 4,301 shares of the stock in a transaction dated Monday, April 1st. The shares were sold at an average price of $23.04, for a total value of $99,095.04. Following the completion of the transaction, the chief marketing officer now owns 163,798 shares of the company’s stock, valued at $3,773,905.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CMO Dafna Sarnoff sold 4,301 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $23.04, for a total transaction of $99,095.04. Following the completion of the transaction, the chief marketing officer now directly owns 163,798 shares in the company, valued at approximately $3,773,905.92. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Samuel Zales sold 17,668 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $21.42, for a total transaction of $378,448.56. Following the completion of the sale, the chief operating officer now owns 548,845 shares in the company, valued at approximately $11,756,259.90. The disclosure for this sale can be found here. Insiders have sold a total of 113,793 shares of company stock worth $2,523,342 over the last 90 days. Insiders own 15.70% of the company’s stock.

Hedge Funds Weigh In On CarGurus

A number of institutional investors and hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC bought a new stake in shares of CarGurus during the fourth quarter worth about $32,000. Exchange Traded Concepts LLC bought a new stake in CarGurus during the 3rd quarter worth approximately $30,000. Acadian Asset Management LLC acquired a new position in CarGurus in the 3rd quarter valued at approximately $32,000. Daiwa Securities Group Inc. bought a new position in shares of CarGurus during the fourth quarter valued at $65,000. Finally, PNC Financial Services Group Inc. lifted its holdings in shares of CarGurus by 298.2% during the third quarter. PNC Financial Services Group Inc. now owns 2,951 shares of the company’s stock worth $52,000 after purchasing an additional 2,210 shares during the period. Institutional investors and hedge funds own 86.90% of the company’s stock.

CarGurus Trading Down 1.6 %

Shares of NASDAQ CARG opened at $22.85 on Tuesday. The firm has a market cap of $2.45 billion, a P/E ratio of 126.94, a price-to-earnings-growth ratio of 1.41 and a beta of 1.58. The business’s 50 day moving average is $22.86 and its 200-day moving average is $22.07. CarGurus has a 1-year low of $15.34 and a 1-year high of $24.64.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings data on Monday, February 26th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.01. CarGurus had a return on equity of 7.74% and a net margin of 3.40%. The firm had revenue of $223.12 million for the quarter, compared to analysts’ expectations of $220.05 million. During the same quarter last year, the business earned $0.25 EPS. The company’s quarterly revenue was down 22.2% compared to the same quarter last year. Analysts forecast that CarGurus will post 0.94 EPS for the current year.

About CarGurus

CarGurus, Inc operates an online automotive platform for buying and selling vehicles in the United States and internationally. It operates through two segments, U.S. Marketplace and Digital Wholesale. The company provides an online automotive marketplace where customers can search for new and used car listings from its dealers and sell their car to dealers and other consumers; and paid listings subscriptions for enhanced access to its marketplace that connects dealers to a large audience of informed and engaged consumers.