CarGurus’ (CARG) “Market Outperform” Rating Reiterated at JMP Securities

JMP Securities reissued their market outperform rating on shares of CarGurus (NASDAQ:CARG) in a research report report published on Wednesday morning, Benzinga reports. JMP Securities currently has a $30.00 target price on the stock.

CARG has been the topic of several other reports. UBS Group lifted their target price on CarGurus from $26.00 to $27.00 and gave the stock a neutral rating in a report on Friday, March 15th. DA Davidson lifted their target price on CarGurus from $22.00 to $25.50 and gave the stock a neutral rating in a report on Monday, May 13th. JPMorgan Chase & Co. lifted their target price on CarGurus from $27.00 to $29.00 and gave the stock an overweight rating in a report on Friday, May 10th. Citigroup lifted their target price on CarGurus from $24.00 to $27.00 and gave the stock a neutral rating in a report on Wednesday, July 3rd. Finally, Royal Bank of Canada lifted their price objective on CarGurus from $26.00 to $27.00 and gave the stock an outperform rating in a research report on Friday, May 10th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $27.55.

CarGurus Stock Down 0.7 %

NASDAQ CARG opened at $25.30 on Wednesday. CarGurus has a twelve month low of $16.70 and a twelve month high of $26.90. The company has a market cap of $2.64 billion, a price-to-earnings ratio of 90.36, a price-to-earnings-growth ratio of 1.45 and a beta of 1.57. The business’s fifty day moving average is $24.63 and its 200 day moving average is $23.61.

CarGurus (NASDAQ:CARG) last released its quarterly earnings data on Thursday, May 9th. The company reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.03. CarGurus had a return on equity of 8.80% and a net margin of 4.04%. The company had revenue of $215.80 million for the quarter, compared to the consensus estimate of $217.29 million. On average, research analysts anticipate that CarGurus will post 0.98 earnings per share for the current fiscal year.

Insider Activity at CarGurus

In related news, COO Samuel Zales sold 17,668 shares of the business’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $21.42, for a total value of $378,448.56. Following the completion of the sale, the chief operating officer now directly owns 548,845 shares of the company’s stock, valued at approximately $11,756,259.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other CarGurus news, General Counsel Javier Esquivel Zamora sold 6,680 shares of CarGurus stock in a transaction dated Thursday, June 6th. The stock was sold at an average price of $25.00, for a total transaction of $167,000.00. Following the completion of the transaction, the general counsel now owns 102,130 shares in the company, valued at approximately $2,553,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Samuel Zales sold 17,668 shares of CarGurus stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $21.42, for a total value of $378,448.56. Following the transaction, the chief operating officer now owns 548,845 shares of the company’s stock, valued at approximately $11,756,259.90. The disclosure for this sale can be found here. Insiders sold 75,994 shares of company stock valued at $1,831,470 in the last three months. Corporate insiders own 17.20% of the company’s stock.

Hedge Funds Weigh In On CarGurus

A number of hedge funds have recently added to or reduced their stakes in CARG. Wellington Management Group LLP boosted its stake in shares of CarGurus by 39.6% in the 4th quarter. Wellington Management Group LLP now owns 5,705,962 shares of the company’s stock worth $137,856,000 after buying an additional 1,619,076 shares during the last quarter. Prevatt Capital Ltd purchased a new position in shares of CarGurus in the 4th quarter worth approximately $24,160,000. Inflection Point Investments LLP purchased a new position in shares of CarGurus in the 4th quarter worth approximately $17,154,000. Norges Bank purchased a new position in shares of CarGurus in the 4th quarter worth approximately $17,042,000. Finally, Pacer Advisors Inc. boosted its stake in shares of CarGurus by 20.3% in the 4th quarter. Pacer Advisors Inc. now owns 1,993,523 shares of the company’s stock worth $48,164,000 after buying an additional 336,245 shares during the last quarter. Institutional investors and hedge funds 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.