JMP Securities Reiterates Market Perform Rating for CarGurus (NASDAQ:CARG)

CarGurus (NASDAQ:CARG)‘s stock had its “market perform” rating reiterated by stock analysts at JMP Securities in a research report issued to clients and investors on Wednesday, Benzinga reports.

Several other equities analysts also recently weighed in on the stock. UBS Group lifted their target price on shares of CarGurus from $26.00 to $27.00 and gave the stock a “neutral” rating in a research note on Friday, March 15th. Oppenheimer lifted their price objective on shares of CarGurus from $26.00 to $30.00 and gave the company an “outperform” rating in a research note on Tuesday, February 27th. Finally, Needham & Company LLC increased their target price on CarGurus from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, CarGurus presently has an average rating of “Moderate Buy” and a consensus price target of $24.90.

CarGurus Stock Performance

NASDAQ CARG traded down $0.34 on Wednesday, hitting $21.25. 406,602 shares of the stock traded hands, compared to its average volume of 1,011,608. The business’s fifty day moving average is $22.98 and its two-hundred day moving average is $21.75. CarGurus has a 12 month low of $15.34 and a 12 month high of $24.64. The firm has a market capitalization of $2.28 billion, a price-to-earnings ratio of 117.94, a PEG ratio of 1.32 and a beta of 1.58.

CarGurus (NASDAQ:CARG) last issued its quarterly earnings results on Monday, February 26th. The company reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. The firm had revenue of $223.12 million for the quarter, compared to analysts’ expectations of $220.05 million. CarGurus had a return on equity of 7.74% and a net margin of 3.40%. The business’s revenue for the quarter was down 22.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.25 EPS. Analysts expect that CarGurus will post 0.94 EPS for the current fiscal year.

Insider Transactions at CarGurus

In related news, CMO Dafna Sarnoff sold 4,301 shares of the stock in a transaction on Monday, April 1st. The stock was sold at an average price of $23.04, for a total value of $99,095.04. Following the transaction, the chief marketing officer now owns 163,798 shares of the company’s stock, valued at $3,773,905.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other CarGurus news, COO Samuel Zales sold 17,668 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $22.22, for a total value of $392,582.96. Following the transaction, the chief operating officer now owns 564,609 shares in the company, valued at $12,545,611.98. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Dafna Sarnoff sold 4,301 shares of the stock in a transaction dated Monday, April 1st. The stock was sold at an average price of $23.04, for a total transaction of $99,095.04. Following the sale, the chief marketing officer now owns 163,798 shares of the company’s stock, valued at $3,773,905.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 96,125 shares of company stock valued at $2,144,894. 15.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of CARG. Exchange Traded Concepts LLC purchased a new stake in CarGurus in the third quarter worth $30,000. Acadian Asset Management LLC bought a new position in CarGurus in the 3rd quarter worth $32,000. GAMMA Investing LLC purchased a new stake in shares of CarGurus in the 4th quarter worth about $32,000. First Horizon Advisors Inc. boosted its stake in shares of CarGurus by 56.8% during the 1st quarter. First Horizon Advisors Inc. now owns 1,741 shares of the company’s stock valued at $33,000 after purchasing an additional 631 shares in the last quarter. Finally, Quarry LP increased its position in shares of CarGurus by 32.5% during the first quarter. Quarry LP now owns 2,269 shares of the company’s stock valued at $42,000 after buying an additional 556 shares during the period. 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.