CarGurus (NASDAQ:CARG) Upgraded at JMP Securities

JMP Securities upgraded shares of CarGurus (NASDAQ:CARGFree Report) from a market perform rating to an outperform rating in a research note published on Friday morning, Marketbeat Ratings reports. JMP Securities currently has $30.00 price objective on the stock.

A number of other analysts also recently commented on the stock. Royal Bank of Canada boosted their target price on shares of CarGurus from $26.00 to $27.00 and gave the stock an outperform rating in a report on Friday, May 10th. JPMorgan Chase & Co. increased their price objective on CarGurus from $27.00 to $29.00 and gave the company an overweight rating in a research report on Friday, May 10th. UBS Group lifted their target price on CarGurus from $26.00 to $27.00 and gave the stock a neutral rating in a report on Friday, March 15th. Needham & Company LLC upped their target price on CarGurus from $24.00 to $25.00 and gave the company a buy rating in a report on Friday, May 10th. Finally, Oppenheimer lifted their price target on CarGurus from $26.00 to $30.00 and gave the stock an outperform rating in a research note on Tuesday, February 27th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, CarGurus has a consensus rating of Moderate Buy and an average target price of $26.13.

Check Out Our Latest Report on CarGurus

CarGurus Stock Performance

Shares of NASDAQ CARG opened at $26.19 on Friday. CarGurus has a 1 year low of $16.70 and a 1 year high of $26.59. The firm has a market cap of $2.73 billion, a P/E ratio of 93.54, a PEG ratio of 1.52 and a beta of 1.55. The stock has a fifty day moving average price of $23.27 and a two-hundred day moving average price of $23.11.

CarGurus (NASDAQ:CARGGet Free Report) last announced its quarterly earnings data on Thursday, May 9th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.03. The business had revenue of $215.80 million during the quarter, compared to analyst estimates of $217.29 million. CarGurus had a return on equity of 8.80% and a net margin of 4.04%. On average, research analysts predict that CarGurus will post 0.98 earnings per share for the current fiscal year.

Insider Activity

In related news, 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 directly owns 548,845 shares in the company, valued at $11,756,259.90. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other CarGurus news, CMO Dafna Sarnoff sold 10,573 shares of the company’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $22.56, for a total value of $238,526.88. Following the transaction, the chief marketing officer now directly owns 168,099 shares of the company’s stock, valued at approximately $3,792,313.44. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Samuel Zales sold 17,668 shares of CarGurus stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $21.42, for a total value of $378,448.56. Following the sale, the chief operating officer now owns 548,845 shares of the company’s stock, valued at $11,756,259.90. The disclosure for this sale can be found here. Insiders have sold 104,558 shares of company stock worth $2,468,590 in the last 90 days. Company insiders own 17.20% of the company’s stock.

Hedge Funds Weigh In On CarGurus

A number of hedge funds have recently added to or reduced their stakes in CARG. SG Capital Management LLC bought a new stake in CarGurus in the first quarter worth approximately $4,222,000. Swedbank AB acquired a new stake in shares of CarGurus in the 1st quarter valued at $1,352,000. Price T Rowe Associates Inc. MD boosted its holdings in CarGurus by 4.9% in the first quarter. Price T Rowe Associates Inc. MD now owns 56,448 shares of the company’s stock worth $1,303,000 after purchasing an additional 2,655 shares in the last quarter. Lazard Asset Management LLC increased its position in CarGurus by 2.2% during the first quarter. Lazard Asset Management LLC now owns 19,510 shares of the company’s stock worth $450,000 after buying an additional 420 shares during the last quarter. Finally, EntryPoint Capital LLC increased its position in CarGurus by 358.2% during the first quarter. EntryPoint Capital LLC now owns 4,596 shares of the company’s stock worth $106,000 after buying an additional 3,593 shares during the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

CarGurus Company Profile

(Get Free Report)

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.

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Analyst Recommendations for CarGurus (NASDAQ:CARG)

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