CarGurus, Inc. (NASDAQ:CARG) Receives $37.41 Consensus Target Price from Analysts

Shares of CarGurus, Inc. (NASDAQ:CARG) have earned an average rating of “Moderate Buy” from the eleven brokerages that are currently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $37.86.

CARG has been the subject of a number of research analyst reports. B. Riley increased their target price on shares of CarGurus from $30.00 to $40.00 and gave the company a “buy” rating in a report on Monday, November 11th. Oppenheimer increased their target price on shares of CarGurus from $32.00 to $44.00 and gave the company an “outperform” rating in a report on Friday, November 8th. JMP Securities increased their target price on shares of CarGurus from $41.00 to $46.00 and gave the company a “market outperform” rating in a report on Friday. Citigroup raised shares of CarGurus from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 11th. Finally, BTIG Research raised their price objective on shares of CarGurus from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd.

CarGurus Stock Down 0.3 %

Shares of NASDAQ:CARG opened at $35.62 on Friday. CarGurus has a 52 week low of $21.02 and a 52 week high of $37.94. The company has a market cap of $3.69 billion, a P/E ratio of -77.67, a PEG ratio of 1.87 and a beta of 1.55. The company has a 50-day moving average price of $31.73 and a 200 day moving average price of $27.70.

Insiders Place Their Bets

In other CarGurus news, CEO Jason Trevisan sold 10,000 shares of CarGurus stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $35.41, for a total value of $354,100.00. Following the completion of the sale, the chief executive officer now directly owns 779,606 shares of the company’s stock, valued at approximately $27,605,848.46. The trade was a 1.27 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Dafna Sarnoff sold 3,107 shares of CarGurus 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 completion of the transaction, the chief marketing officer now owns 128,952 shares in the company, valued at approximately $3,664,815.84. This trade represents a 2.35 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 71,065 shares of company stock valued at $2,356,336. Company insiders own 17.20% of the company’s stock.

Hedge Funds Weigh In On CarGurus

A number of hedge funds have recently made changes to their positions in CARG. Point72 Hong Kong Ltd acquired a new position in shares of CarGurus in the 3rd quarter valued at $28,000. Signaturefd LLC lifted its holdings in shares of CarGurus by 81.3% during the 3rd quarter. Signaturefd LLC now owns 959 shares of the company’s stock valued at $29,000 after acquiring an additional 430 shares in the last quarter. Kathleen S. Wright Associates Inc. acquired a new position in shares of CarGurus during the 3rd quarter valued at $30,000. CWM LLC lifted its holdings in shares of CarGurus by 54.1% during the 2nd quarter. CWM LLC now owns 1,381 shares of the company’s stock valued at $36,000 after acquiring an additional 485 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of 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 acquiring an additional 479 shares in the last quarter. 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.