CarGurus (NASDAQ:CARG – Get Rating) had its price target reduced by analysts at Needham & Company LLC from $40.00 to $32.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Needham & Company LLC’s objective price indicates a potential upside of 46.65% from the company’s current price.
A number of other equities analysts also recently issued reports on the company. Royal Bank of Canada lowered their price target on CarGurus from $56.00 to $45.00 in a report on Tuesday, May 10th. Raymond James lowered their price target on CarGurus from $52.00 to $34.00 in a report on Tuesday, May 10th. Benchmark lowered their price target on CarGurus from $63.00 to $50.00 in a report on Tuesday, May 10th. BTIG Research lowered their price target on CarGurus from $40.00 to $33.00 and set a “buy” rating for the company in a report on Tuesday, June 21st. Finally, Oppenheimer lowered their price target on CarGurus from $45.00 to $38.00 in a report on Tuesday, May 10th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $42.73.
Shares of CarGurus stock traded down $0.60 on Tuesday, reaching $21.82. 4,984 shares of the company were exchanged, compared to its average volume of 843,273. CarGurus has a 1-year low of $20.15 and a 1-year high of $50.03. The company has a market cap of $2.58 billion, a P/E ratio of -29.99, a price-to-earnings-growth ratio of 2.93 and a beta of 1.56. The stock’s 50 day moving average price is $25.63 and its 200-day moving average price is $33.05.
CarGurus (NASDAQ:CARG – Get Rating) last announced its quarterly earnings data on Monday, May 9th. The company reported $0.36 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. The business had revenue of $430.60 million during the quarter, compared to the consensus estimate of $392.66 million. CarGurus had a return on equity of 22.94% and a net margin of 2.05%. The business’s revenue for the quarter was up 151.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.24 earnings per share. On average, equities research analysts expect that CarGurus will post 0.59 EPS for the current year.
In other news, COO Samuel Zales sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, April 18th. The stock was sold at an average price of $41.74, for a total transaction of $417,400.00. Following the completion of the sale, the chief operating officer now owns 403,403 shares in the company, valued at $16,838,041.22. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 14.80% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the stock. Teachers Retirement System of The State of Kentucky grew its holdings in CarGurus by 2.4% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 125,208 shares of the company’s stock worth $5,316,000 after acquiring an additional 2,880 shares during the period. Bank of America Corp DE grew its holdings in CarGurus by 3.3% during the first quarter. Bank of America Corp DE now owns 1,179,269 shares of the company’s stock worth $50,072,000 after acquiring an additional 37,893 shares during the period. Sawtooth Solutions LLC acquired a new position in CarGurus during the first quarter worth $226,000. Avalon Investment & Advisory grew its holdings in CarGurus by 12.4% in the first quarter. Avalon Investment & Advisory now owns 177,582 shares of the company’s stock valued at $7,540,000 after purchasing an additional 19,656 shares during the last quarter. Finally, Virtu Financial LLC grew its holdings in CarGurus by 17.7% in the first quarter. Virtu Financial LLC now owns 7,257 shares of the company’s stock valued at $308,000 after purchasing an additional 1,093 shares during the last quarter.
CarGurus Company Profile (Get Rating)
CarGurus, Inc operates an online automotive marketplace connecting buyers and sellers of new and used cars in the United States and internationally. The company provides consumers an online automotive marketplace where they can search for new and used car listings from its dealers, as well as sell their car in the United States marketplace.
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