CarGurus (NASDAQ:CARG) Issues Q4 2024 Earnings Guidance

CarGurus (NASDAQ:CARG) updated its fourth quarter 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 0.500-0.550 for the period, compared to the consensus earnings per share estimate of 0.460. The company issued revenue guidance of $219.0 million-$239.0 million, compared to the consensus revenue estimate of $225.6 million. CarGurus also updated its FY 2024 guidance to 1.670-1.730 EPS.

CarGurus Stock Up 4.3 %

Shares of CARG stock traded up $1.45 on Friday, hitting $34.81. The company had a trading volume of 1,309,888 shares, compared to its average volume of 478,031. CarGurus has a twelve month low of $18.59 and a twelve month high of $37.89. The firm has a market cap of $3.60 billion, a P/E ratio of -75.67, a price-to-earnings-growth ratio of 1.83 and a beta of 1.55. The company has a 50-day moving average price of $30.25 and a 200-day moving average price of $26.94.

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

Analyst Ratings Changes

Several analysts recently commented on CARG shares. BTIG Research raised their price target on shares of CarGurus from $30.00 to $35.00 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Royal Bank of Canada lifted their price target on CarGurus from $27.00 to $30.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Jefferies Financial Group upped their price target on CarGurus from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. JMP Securities reissued a “market outperform” rating and issued a $32.00 price objective on shares of CarGurus in a report on Monday, September 9th. Finally, Needham & Company LLC upped their target price on CarGurus from $27.00 to $39.00 and gave the stock a “buy” rating in a research note on Friday. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, CarGurus has a consensus rating of “Moderate Buy” and a consensus target price of $34.59.

Insider Transactions at CarGurus

In other news, CMO Dafna Sarnoff sold 3,107 shares of the company’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 completion of the sale, the chief marketing officer now owns 128,952 shares of the company’s stock, valued at $3,664,815.84. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other CarGurus news, COO Samuel Zales sold 25,168 shares of the business’s stock in a transaction on Friday, August 16th. The stock was sold at an average price of $28.34, for a total transaction of $713,261.12. Following the transaction, the chief operating officer now owns 480,583 shares of the company’s stock, valued at approximately $13,619,722.22. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CMO Dafna Sarnoff sold 3,107 shares of the company’s stock in a transaction 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 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 disclosure for this sale can be found here. Insiders have sold 61,065 shares of company stock valued at $1,823,794 over the last ninety days. Insiders own 17.20% 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.