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

DA Davidson reissued their neutral rating on shares of CarGurus (NASDAQ:CARG) in a research report report published on Tuesday, Benzinga reports. They currently have a $26.50 price target on the stock.

Other research analysts also recently issued reports about the stock. Royal Bank of Canada boosted their target price 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. Citigroup lifted their price objective on shares of CarGurus from $24.00 to $27.00 and gave the company a neutral rating in a report on Wednesday, July 3rd. B. Riley lifted their price objective on shares of CarGurus from $28.00 to $30.00 and gave the company a buy rating in a report on Friday, August 9th. BTIG Research lifted their price objective on shares of CarGurus from $28.00 to $30.00 and gave the company a buy rating in a report on Friday, August 9th. Finally, JMP Securities reaffirmed a market outperform rating and issued a $32.00 price objective on shares of CarGurus in a report on Monday, September 9th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $29.35.

CarGurus Price Performance

NASDAQ CARG opened at $29.12 on Tuesday. The company has a market capitalization of $3.01 billion, a PE ratio of 104.00, a P/E/G ratio of 1.33 and a beta of 1.56. The company has a fifty day moving average of $26.44 and a 200 day moving average of $24.60. CarGurus has a 1 year low of $16.70 and a 1 year high of $29.40.

CarGurus (NASDAQ:CARG) last posted its earnings results 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. The company had revenue of $218.69 million during the quarter, compared to the consensus estimate of $214.85 million. CarGurus had a negative net margin of 5.57% and a positive return on equity of 11.06%. Research analysts expect that CarGurus will post 1.18 earnings per share for the current year.

Insider Transactions at CarGurus

In other news, CMO Dafna Sarnoff sold 3,107 shares of the business’s stock in a transaction dated 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CMO Dafna Sarnoff sold 3,107 shares of the business’s stock in a transaction dated 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Samuel Zales sold 25,168 shares of the business’s stock in a transaction dated 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 in the company, valued at $13,619,722.22. The disclosure for this sale can be found here. Insiders sold 57,421 shares of company stock valued at $1,567,354 over the last 90 days. Corporate insiders own 17.20% of the company’s stock.

Hedge Funds Weigh In On CarGurus

Institutional investors and hedge funds have recently bought and sold shares of the business. CWM LLC boosted its position in CarGurus by 54.1% during the second quarter. CWM LLC now owns 1,381 shares of the company’s stock worth $36,000 after acquiring an additional 485 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in CarGurus by 43.5% during the second quarter. Nisa Investment Advisors LLC now owns 1,579 shares of the company’s stock worth $41,000 after acquiring an additional 479 shares during the last quarter. GAMMA Investing LLC boosted its position in CarGurus by 25.9% during the second quarter. GAMMA Investing LLC now owns 2,066 shares of the company’s stock worth $54,000 after acquiring an additional 425 shares during the last quarter. Headlands Technologies LLC acquired a new position in CarGurus during the first quarter worth about $49,000. Finally, Point72 DIFC Ltd acquired a new position in CarGurus in the 2nd quarter valued at about $87,000. 86.90% of the stock is currently owned by institutional investors and hedge funds.

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.