CarGurus, Inc. (NASDAQ:CARG) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

CarGurus, Inc. (NASDAQ:CARG) has been given an average rating of “Moderate Buy” by the eleven analysts that are currently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $37.86.

A number of equities analysts have weighed in on CARG shares. Needham & Company LLC upped their price objective on shares of CarGurus from $27.00 to $39.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Citigroup raised shares of CarGurus from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. upped their price objective on shares of CarGurus from $36.00 to $40.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. BTIG Research upped their price objective 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. Finally, Royal Bank of Canada upped their target price on shares of CarGurus from $30.00 to $42.00 and gave the company an “outperform” rating in a research note on Monday, November 11th.

Insider Activity

In related news, COO Samuel Zales sold 25,168 shares of the stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $31.62, for a total transaction of $795,812.16. Following the sale, the chief operating officer now owns 449,821 shares in the company, valued at $14,223,340.02. This represents a 5.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Dafna Sarnoff sold 3,107 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $28.42, for a total transaction of $88,300.94. Following the sale, the chief marketing officer now owns 128,952 shares in the company, valued at approximately $3,664,815.84. This trade represents a 2.35 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 71,065 shares of company stock worth $2,356,336. 17.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On CarGurus

Several institutional investors and hedge funds have recently bought and sold shares of CARG. Point72 Hong Kong Ltd bought a new position in CarGurus in the 3rd quarter worth about $28,000. Signaturefd LLC grew its position in CarGurus by 81.3% in the 3rd quarter. Signaturefd LLC now owns 959 shares of the company’s stock worth $29,000 after purchasing an additional 430 shares during the last quarter. Kathleen S. Wright Associates Inc. bought a new position in CarGurus in the 3rd quarter worth about $30,000. CWM LLC grew its position in CarGurus by 54.1% in the 2nd quarter. CWM LLC now owns 1,381 shares of the company’s stock worth $36,000 after purchasing an additional 485 shares during the last quarter. Finally, Quarry LP grew its position in CarGurus by 155.8% in the 3rd quarter. Quarry LP now owns 1,499 shares of the company’s stock worth $45,000 after purchasing an additional 913 shares during the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

CarGurus Price Performance

NASDAQ:CARG opened at $35.62 on Friday. The firm has a 50-day moving average of $31.73 and a two-hundred day moving average of $27.70. The stock has a market cap of $3.69 billion, a P/E ratio of -77.67, a PEG ratio of 1.87 and a beta of 1.55. CarGurus has a 1-year low of $21.02 and a 1-year high of $37.94.

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.