CarGurus (NASDAQ:CARG) Stock Rating Reaffirmed by DA Davidson

DA Davidson reaffirmed their neutral rating on shares of CarGurus (NASDAQ:CARG) in a report released on Tuesday, Benzinga reports. The brokerage currently has a $26.50 price target on the stock.

CARG has been the topic of a number of other reports. BTIG Research raised their target price 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. JMP Securities reaffirmed a market outperform rating and set a $32.00 target price on shares of CarGurus in a research report on Monday, September 9th. Citigroup raised their target price on shares of CarGurus from $24.00 to $27.00 and gave the stock a neutral rating in a research report on Wednesday, July 3rd. JPMorgan Chase & Co. raised their target price on shares of CarGurus from $29.00 to $32.00 and gave the stock an overweight rating in a research report on Monday, August 12th. Finally, B. Riley raised their target price 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 equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $29.35.

CarGurus Price Performance

CarGurus stock opened at $29.12 on Tuesday. CarGurus has a 1-year low of $16.70 and a 1-year high of $29.40. The firm has a market capitalization of $3.01 billion, a P/E ratio of 104.00, a price-to-earnings-growth ratio of 1.33 and a beta of 1.56. The company’s 50-day moving average is $26.44 and its 200 day moving average is $24.60.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.30 earnings per share for the quarter, topping 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 company had revenue of $218.69 million for the quarter, compared to analyst estimates of $214.85 million. Research analysts anticipate that CarGurus will post 1.18 earnings per share for the current fiscal year.

Insider Activity at CarGurus

In other CarGurus news, CMO Dafna Sarnoff sold 3,107 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $28.42, for a total value of $88,300.94. Following the completion of the sale, the chief marketing officer now directly owns 128,952 shares in the company, valued at $3,664,815.84. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other CarGurus news, CTO Matthew Todd Quinn sold 3,978 shares of the firm’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $24.91, for a total value of $99,091.98. Following the completion of the sale, the chief technology officer now directly owns 217,374 shares in the company, valued at $5,414,786.34. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CMO Dafna Sarnoff sold 3,107 shares of the firm’s stock in a transaction that occurred 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 sale, the chief marketing officer now owns 128,952 shares of the company’s stock, valued at $3,664,815.84. The disclosure for this sale can be found here. Insiders have sold a total of 57,421 shares of company stock valued at $1,567,354 over the last ninety days. 17.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On CarGurus

Several institutional investors have recently bought and sold shares of CARG. Prevatt Capital Ltd acquired a new stake in shares of CarGurus during the fourth quarter worth $24,160,000. Pale Fire Capital SE acquired a new stake in shares of CarGurus during the fourth quarter worth $1,800,000. UniSuper Management Pty Ltd acquired a new stake in shares of CarGurus during the first quarter worth $483,000. Capstone Investment Advisors LLC acquired a new stake in shares of CarGurus during the first quarter worth $1,315,000. Finally, Jennison Associates LLC acquired a new stake in shares of CarGurus during the first quarter worth $707,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

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.