CarGurus (NASDAQ:CARG) PT Raised to $32.00

CarGurus (NASDAQ:CARG) had its price objective upped by stock analysts at Oppenheimer from $30.00 to $32.00 in a research report issued on Friday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Oppenheimer’s price target suggests a potential upside of 18.78% from the company’s current price.

A number of other analysts have also issued reports on CARG. Citigroup boosted their target price on shares of CarGurus from $24.00 to $27.00 and gave the company a “neutral” rating in a research note on Wednesday, July 3rd. DA Davidson boosted their price objective on shares of CarGurus from $22.00 to $25.50 and gave the company a “neutral” rating in a research report on Monday, May 13th. JPMorgan Chase & Co. raised their target price on shares of CarGurus from $27.00 to $29.00 and gave the stock an “overweight” rating in a research report on Friday, May 10th. Royal Bank of Canada lifted their price target on shares of CarGurus from $26.00 to $27.00 and gave the company an “outperform” rating in a research note on Friday, May 10th. Finally, Needham & Company LLC increased their price objective on CarGurus from $25.00 to $27.00 and gave the stock a “buy” rating in a research note on Friday. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, CarGurus presently has an average rating of “Moderate Buy” and a consensus price target of $28.75.

CarGurus Price Performance

Shares of NASDAQ:CARG traded up $4.54 during trading hours on Friday, hitting $26.94. 2,005,431 shares of the company’s stock traded hands, compared to its average volume of 904,858. The firm has a market capitalization of $2.81 billion, a P/E ratio of 96.21, a price-to-earnings-growth ratio of 1.40 and a beta of 1.57. The business has a fifty day moving average price of $25.10 and a 200-day moving average price of $23.82. CarGurus has a 1 year low of $16.70 and a 1 year high of $27.00.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings data on Thursday, May 9th. The company reported $0.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.19 by $0.03. The company had revenue of $215.80 million during the quarter, compared to analysts’ expectations of $217.29 million. CarGurus had a return on equity of 8.80% and a net margin of 4.04%. As a group, equities analysts predict that CarGurus will post 0.98 earnings per share for the current year.

Insider Activity at CarGurus

In other CarGurus news, COO Samuel Zales sold 17,668 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $24.73, for a total transaction of $436,929.64. Following the completion of the sale, the chief operating officer now owns 548,845 shares in the company, valued at $13,572,936.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other CarGurus news, COO Samuel Zales sold 17,668 shares of CarGurus stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $24.73, for a total value of $436,929.64. Following the transaction, the chief operating officer now owns 548,845 shares in the company, valued at $13,572,936.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, General Counsel Javier Esquivel Zamora sold 6,680 shares of the stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $25.00, for a total transaction of $167,000.00. Following the sale, the general counsel now directly owns 102,130 shares of the company’s stock, valued at $2,553,250. The disclosure for this sale can be found here. Insiders have sold a total of 83,494 shares of company stock valued at $2,119,722 over the last ninety days. 17.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On CarGurus

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC acquired a new position in shares of CarGurus during the fourth quarter worth $32,000. CWM LLC grew its stake in CarGurus by 54.1% during the 2nd quarter. CWM LLC now owns 1,381 shares of the company’s stock worth $36,000 after buying an additional 485 shares during the last quarter. Nisa Investment Advisors LLC increased its position in CarGurus by 43.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,579 shares of the company’s stock valued at $41,000 after buying an additional 479 shares in the last quarter. Headlands Technologies LLC purchased a new stake in CarGurus in the first quarter valued at about $49,000. Finally, Daiwa Securities Group Inc. acquired a new stake in CarGurus in the fourth quarter worth about $65,000. Hedge funds and other institutional investors own 86.90% of the company’s stock.

CarGurus Company Profile

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.