CarGurus (NASDAQ:CARG) Stock Price Expected to Rise, Oppenheimer Analyst Says

CarGurus (NASDAQ:CARG) had its target price boosted by Oppenheimer from $32.00 to $44.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Oppenheimer’s price target would indicate a potential upside of 26.18% from the company’s previous close.

A number of other equities research analysts also recently weighed in on the stock. Royal Bank of Canada lifted their price target on shares of CarGurus from $27.00 to $30.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. BTIG Research lifted their price objective on CarGurus from $30.00 to $35.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Needham & Company LLC increased their target price on CarGurus from $25.00 to $27.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Jefferies Financial Group raised their price target on CarGurus from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Finally, B. Riley upped their price objective on shares of CarGurus from $28.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, CarGurus presently has a consensus rating of “Moderate Buy” and an average target price of $32.77.

CarGurus Stock Up 4.5 %

Shares of CarGurus stock traded up $1.51 during trading on Friday, reaching $34.87. The company’s stock had a trading volume of 307,819 shares, compared to its average volume of 822,698. The business’s 50-day moving average price is $30.14 and its 200-day moving average price is $26.80. CarGurus has a 52 week low of $18.59 and a 52 week high of $37.89. The firm has a market cap of $3.60 billion, a PE ratio of -70.90, a P/E/G ratio of 1.74 and a beta of 1.55.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.23 by $0.07. CarGurus had a negative net margin of 5.57% and a positive return on equity of 11.06%. The firm had revenue of $218.69 million during the quarter, compared to the consensus estimate of $214.85 million. Equities analysts predict that CarGurus will post 1.16 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Samuel Zales sold 25,168 shares of the firm’s stock in a transaction that occurred on Friday, August 16th. The shares were sold at an average price of $28.34, for a total value of $713,261.12. Following the sale, the chief operating officer now directly owns 480,583 shares in the company, valued at approximately $13,619,722.22. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other CarGurus news, CMO Dafna Sarnoff sold 3,107 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $28.42, for a total transaction of $88,300.94. Following the sale, the chief marketing officer now owns 128,952 shares of the company’s stock, valued at approximately $3,664,815.84. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Samuel Zales sold 25,168 shares of the stock in a transaction on Friday, August 16th. The shares were sold at an average price of $28.34, for a total value of $713,261.12. Following the completion of the transaction, the chief operating officer now owns 480,583 shares of the company’s stock, valued at $13,619,722.22. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 61,065 shares of company stock valued at $1,823,794. 17.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On CarGurus

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Signaturefd LLC boosted its stake in shares of CarGurus by 81.3% during the third quarter. Signaturefd LLC now owns 959 shares of the company’s stock valued at $29,000 after purchasing an additional 430 shares in the last quarter. Kathleen S. Wright Associates Inc. bought a new position in CarGurus in the 3rd quarter valued at approximately $30,000. CWM LLC raised its holdings in CarGurus by 54.1% in the 2nd quarter. CWM LLC now owns 1,381 shares of the company’s stock valued at $36,000 after buying an additional 485 shares during the last quarter. Nisa Investment Advisors LLC boosted 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 worth $41,000 after buying an additional 479 shares during the period. Finally, Headlands Technologies LLC bought a new stake in CarGurus during the 1st quarter worth approximately $49,000. Institutional investors and hedge funds own 86.90% of the company’s stock.

About CarGurus

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.