The stock of CarGurus Inc. (NASDAQ:CARG) last traded at $21.49, down -3.89% from the previous session.
Data from the available sources indicates that CarGurus Inc. (NASDAQ:CARG) is covered by 13 analysts. 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 $24.00. Given the previous closing price of $22.36, this indicates a potential upside of 7.33 percent. CARG stock price is now -0.47% away from the 50-day moving average and 24.15% away from the 200-day moving average. The market capitalization of the company currently stands at $2.39B.
In total, 3 analysts have assigned it a hold rating, and 9 have given it a buy rating. Brokers who have rated the stock have averaged $23.36 as their price target over the next twelve months.
With the price target of $28, B. Riley Securities recently initiated with Buy rating for CarGurus Inc. (NASDAQ: CARG).
Insiders disposed of 217,178 shares of company stock worth roughly $4.67 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 PACER ADVISORS, INC. during the first quarter worth $20,124,000. ARROWSTREET CAPITAL, LIMITED PARTNERSHIP invested $16,356,000 in shares of CARG during the first quarter. In the first quarter, KNIGHTSBRIDGE ASSET MANAGEMENT, LLC acquired a new stake in CarGurus Inc. valued at approximately $15,338,000. TUDOR INVESTMENT CORP ET AL acquired a new stake in CARG for approximately $3,169,000. EXODUSPOINT CAPITAL MANAGEMENT, LP purchased a new stake in CARG valued at around $2,965,000 in the second quarter. In total, there are 299 active investors with 106.20% ownership of the company’s stock.
With an opening price of $21.82 on Thursday morning, CarGurus Inc. (NASDAQ: CARG) set off the trading day. 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 $2.28B, which is based on a 11.01 price-to-earnings ratio, a 0.71 price-to-earnings-growth ratio, and a beta of 1.60. The fifty day moving average price for CARG is $21.64 and a two-hundred day moving average price translates $17.35 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 $230.36M 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.
