In yesterday’s Wall Street session, CarGurus Inc. (NASDAQ:CARG) shares traded at $22.83, up 1.42% from the previous session.
12 analysts cover CarGurus Inc. (NASDAQ:CARG), according to research data. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $29.00 and a low of $15.00, we find $22.50. Given the previous closing price of $22.51, this indicates a potential downside of -0.04 percent. CARG stock price is now 15.41% away from the 50-day moving average and 37.55% away from the 200-day moving average. The market capitalization of the company currently stands at $2.54B.
The stock has received a hold rating from 2 analysts and a buy rating from 8. Brokers who have rated the stock have averaged $22.30 as their price target over the next twelve months.
With the price target of $29, JP Morgan recently initiated with Overweight rating for CarGurus Inc. (NASDAQ: CARG).
In other news, Zales Samuel, COO and President sold 17,707 shares of the company’s stock on Jul 21. The stock was sold for $443,029 at an average price of $25.02. Upon completion of the transaction, the COO and President now directly owns 392,587 shares in the company, valued at $8.96 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jul 20, COO and President Zales Samuel sold 2,293 shares of the business’s stock. A total of $57,348 was realized by selling the stock at an average price of $25.01. This leaves the insider owning 392,587 shares of the company worth $8.96 million. Insiders disposed of 181,533 shares of company stock worth roughly $4.14 million over the past 1 year. A total of 1.60% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in CARG stock. A new stake in CarGurus Inc. shares was purchased by ARROWSTREET CAPITAL, LIMITED PARTNERSHIP during the first quarter worth $17,375,000. KNIGHTSBRIDGE ASSET MANAGEMENT, LLC invested $16,295,000 in shares of CARG during the first quarter. In the first quarter, TUDOR INVESTMENT CORP ET AL acquired a new stake in CarGurus Inc. valued at approximately $3,367,000. EXODUSPOINT CAPITAL MANAGEMENT, LP acquired a new stake in CARG for approximately $3,150,000. STATE OF NEW JERSEY COMMON PENSION FUND D purchased a new stake in CARG valued at around $3,037,000 in the second quarter. In total, there are 287 active investors with 105.77% ownership of the company’s stock.
On Tuesday morning CarGurus Inc. (NASDAQ: CARG) stock kicked off with the opening price of $22.60. During the past 12 months, CarGurus Inc. has had a low of $9.14 and a high of $26.43. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 4.40, and a quick ratio of 4.40. According to the stock market information, the enterprise value for the company is $2.34B, which is based on a 11.70 price-to-earnings ratio, a 0.75 price-to-earnings-growth ratio, and a beta of 1.62. The fifty day moving average price for CARG is $19.91 and a two-hundred day moving average price translates $16.64 for the stock.
The latest earnings results from CarGurus Inc. (NASDAQ: CARG) was released for Mar, 2023. According to the Auto & Truck Dealerships Company, earnings per share came in at $0.26, beating analysts’ expectations of $0.17 by 0.09. This compares to $0.16 EPS in the same period last year. The net profit margin was 18.70% and return on equity was 44.00% for CARG. The company reported revenue of $231.96 million for the quarter, compared to $430.61 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -46.13 percent. For the current quarter, analysts expect CARG to generate $230.15M in revenue.
CarGurus Inc.(CARG) Company Profile
CarGurus, Inc. operates an online automotive marketplace connecting buyers and sellers of new and used cars in the United States and internationally. It operates through two segments, U.S. Marketplace and Digital Wholesale 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 to dealers and other consumers. Its marketplace connects dealers to a large audience of informed and engaged consumers. The company operates online marketplaces under the CarGurus brand in Canada and the United Kingdom; Autolist and CarOffer brands in the United States; and PistonHeads brand in the United Kingdom. CarGurus, Inc. was founded in 2005 and is headquartered in Cambridge, Massachusetts.
