CarGurus (NASDAQ:CARG) PT Lowered to $38.00

CarGurus (NASDAQ:CARGGet Rating) had its target price decreased by Oppenheimer from $45.00 to $38.00 in a research note issued to investors on Tuesday, The Fly reports.

Other research analysts also recently issued research reports about the company. DA Davidson increased their price objective on CarGurus from $42.00 to $52.00 and gave the company a neutral rating in a report on Friday, March 4th. Northcoast Research initiated coverage on CarGurus in a research report on Wednesday, February 2nd. They set a buy rating and a $43.00 price objective for the company. TheStreet cut CarGurus from a b rating to a c rating in a research report on Tuesday, March 22nd. Needham & Company LLC increased their price objective on CarGurus from $46.00 to $52.00 and gave the stock a buy rating in a research report on Friday, February 25th. Finally, Raymond James increased their price objective on CarGurus from $41.00 to $52.00 and gave the stock an outperform rating in a research report on Monday, February 28th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Buy and an average target price of $43.75.

Shares of NASDAQ:CARG opened at $25.37 on Tuesday. The business’s 50 day moving average price is $38.64 and its 200-day moving average price is $36.31. The firm has a market capitalization of $3.00 billion, a PE ratio of -34.28, a P/E/G ratio of 1.72 and a beta of 1.54. CarGurus has a 1 year low of $20.15 and a 1 year high of $50.03.

CarGurus (NASDAQ:CARGGet Rating) last announced its quarterly earnings results on Monday, May 9th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.35 by $0.01. CarGurus had a return on equity of 22.94% and a net margin of 2.05%. The business had revenue of $430.60 million for the quarter, compared to analyst estimates of $392.66 million. During the same quarter in the prior year, the company posted $0.24 EPS. The company’s quarterly revenue was up 151.2% on a year-over-year basis. On average, analysts forecast that CarGurus will post 1.03 earnings per share for the current year.

In other news, COO Samuel Zales sold 10,000 shares of the company’s stock in a transaction dated Monday, April 18th. The stock was sold at an average price of $41.74, for a total value of $417,400.00. Following the completion of the sale, the chief operating officer now owns 403,403 shares of the company’s stock, valued at $16,838,041.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Scot Christopher Fredo sold 3,580 shares of the company’s stock in a transaction dated Friday, February 25th. The stock was sold at an average price of $39.00, for a total value of $139,620.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 39,185 shares of company stock valued at $1,615,924. 21.72% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. The Manufacturers Life Insurance Company boosted its holdings in CarGurus by 1.3% in the fourth quarter. The Manufacturers Life Insurance Company now owns 9,312,123 shares of the company’s stock valued at $312,940,000 after purchasing an additional 115,026 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in CarGurus by 31.3% during the third quarter. The Manufacturers Life Insurance Company now owns 9,197,097 shares of the company’s stock valued at $288,881,000 after buying an additional 2,191,237 shares in the last quarter. Wellington Management Group LLP raised its stake in CarGurus by 23.3% during the third quarter. Wellington Management Group LLP now owns 9,120,472 shares of the company’s stock valued at $286,473,000 after buying an additional 1,725,266 shares in the last quarter. BlackRock Inc. raised its stake in CarGurus by 2.6% during the fourth quarter. BlackRock Inc. now owns 6,100,334 shares of the company’s stock valued at $205,215,000 after buying an additional 153,236 shares in the last quarter. Finally, Contour Asset Management LLC raised its stake in CarGurus by 34.8% during the fourth quarter. Contour Asset Management LLC now owns 4,815,767 shares of the company’s stock valued at $162,002,000 after buying an additional 1,241,975 shares in the last quarter.

About CarGurus (Get Rating)

CarGurus, Inc operates an online automotive marketplace connecting buyers and sellers of new and used cars in the United States and internationally. 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 in the United States marketplace.

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