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

CarGurus, Inc. (NASDAQ:CARG) has been given an average rating of “Moderate Buy” by the eleven analysts that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $38.41.

Several equities analysts have issued reports on CARG shares. JMP Securities reiterated a “market outperform” rating and issued a $46.00 price objective on shares of CarGurus in a research report on Monday, December 16th. JPMorgan Chase & Co. upped their price target on shares of CarGurus from $40.00 to $42.00 and gave the stock an “overweight” rating in a research report on Friday, February 21st. Oppenheimer lowered their price objective on shares of CarGurus from $44.00 to $42.00 and set an “outperform” rating for the company in a research report on Monday, February 24th. Citigroup upgraded shares of CarGurus from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Finally, DA Davidson raised their price target on shares of CarGurus from $26.50 to $38.50 and gave the company a “neutral” rating in a report on Friday, November 8th.

Insider Buying and Selling at CarGurus

In related news, COO Samuel Zales sold 7,500 shares of the stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $37.70, for a total value of $282,750.00. Following the sale, the chief operating officer now directly owns 434,821 shares in the company, valued at $16,392,751.70. This trade represents a 1.70 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CMO Dafna Sarnoff sold 10,570 shares of CarGurus stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $35.78, for a total transaction of $378,194.60. Following the transaction, the chief marketing officer now directly owns 95,261 shares in the company, valued at $3,408,438.58. The trade was a 9.99 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 59,388 shares of company stock worth $2,204,338. Insiders own 17.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Global Retirement Partners LLC grew its position in shares of CarGurus by 198.5% in the fourth quarter. Global Retirement Partners LLC now owns 800 shares of the company’s stock valued at $29,000 after purchasing an additional 532 shares during the last quarter. Fifth Third Bancorp grew its stake in shares of CarGurus by 100.0% in the fourth quarter. Fifth Third Bancorp now owns 912 shares of the company’s stock valued at $33,000 after acquiring an additional 456 shares in the last quarter. Point72 Hong Kong Ltd bought a new position in CarGurus during the third quarter worth about $28,000. Principal Securities Inc. raised its stake in CarGurus by 82.7% in the 4th quarter. Principal Securities Inc. now owns 937 shares of the company’s stock worth $34,000 after purchasing an additional 424 shares in the last quarter. Finally, USA Financial Formulas acquired a new position in shares of CarGurus during the 4th quarter worth approximately $35,000. 86.90% of the stock is owned by institutional investors.

CarGurus Trading Up 4.7 %

CARG opened at $32.19 on Monday. CarGurus has a 1 year low of $21.18 and a 1 year high of $41.33. The stock has a market cap of $3.34 billion, a PE ratio of 178.84, a P/E/G ratio of 1.72 and a beta of 1.59. The stock’s 50 day simple moving average is $37.33 and its 200-day simple moving average is $33.88.

CarGurus (NASDAQ:CARG) last posted its earnings results on Thursday, February 20th. The company reported $0.44 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.06). CarGurus had a return on equity of 27.14% and a net margin of 2.34%. The company had revenue of $228.54 million for the quarter, compared to the consensus estimate of $231.72 million. Equities analysts forecast that CarGurus will post 1.41 earnings per share for the current fiscal 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.