CarGurus (NASDAQ:CARG) Given New $42.00 Price Target at JPMorgan Chase & Co.

CarGurus (NASDAQ:CARG) had its target price increased by JPMorgan Chase & Co. from $40.00 to $42.00 in a research report sent to investors on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other equities analysts have also recently weighed in on CARG. B. Riley lifted their price target on CarGurus from $30.00 to $40.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Oppenheimer lifted their price target on CarGurus from $32.00 to $44.00 and gave the company an “outperform” rating in a research report on Friday, November 8th. Citigroup upgraded CarGurus from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 11th. Needham & Company LLC reiterated a “buy” rating and issued a $45.00 price target on shares of CarGurus in a research report on Friday. Finally, JMP Securities reiterated a “market outperform” rating and issued a $46.00 price target on shares of CarGurus in a research report on Monday, December 16th. Two research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $38.59.

CarGurus Price Performance

Shares of CARG opened at $31.15 on Friday. The firm has a market cap of $3.23 billion, a PE ratio of -67.72, a PEG ratio of 1.74 and a beta of 1.59. The stock’s fifty day moving average price is $37.81 and its two-hundred day moving average price is $33.67. CarGurus has a 1 year low of $21.18 and a 1 year high of $41.33.

CarGurus (NASDAQ:CARG) last issued its earnings results on Thursday, February 20th. The company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.06). The firm had revenue of $228.54 million during the quarter, compared to the consensus estimate of $231.72 million. CarGurus had a negative net margin of 5.47% and a positive return on equity of 13.96%. Sell-side analysts anticipate that CarGurus will post 1.25 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, COO Samuel Zales sold 20,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $38.36, for a total value of $767,200.00. Following the completion of the transaction, the chief operating officer now directly owns 400,025 shares in the company, valued at approximately $15,344,959. This represents a 4.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CTO Matthew Todd Quinn sold 4,678 shares of the company’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $35.78, for a total value of $167,378.84. Following the completion of the transaction, the chief technology officer now owns 195,795 shares of the company’s stock, valued at $7,005,545.10. The trade was a 2.33 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 59,388 shares of company stock worth $2,204,338 over the last ninety days. 17.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CarGurus

A number of hedge funds and other institutional investors have recently modified their holdings of CARG. Arrowstreet Capital Limited Partnership lifted its stake in shares of CarGurus by 168.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,524,478 shares of the company’s stock valued at $55,704,000 after acquiring an additional 957,035 shares during the last quarter. Wellington Management Group LLP raised its position in CarGurus by 12.7% during the 4th quarter. Wellington Management Group LLP now owns 7,145,350 shares of the company’s stock valued at $261,091,000 after purchasing an additional 802,602 shares during the last quarter. Loomis Sayles & Co. L P bought a new position in CarGurus during the 3rd quarter valued at approximately $21,052,000. No Street GP LP bought a new position in CarGurus during the 4th quarter valued at approximately $25,578,000. Finally, Raymond James Financial Inc. bought a new position in CarGurus during the 4th quarter valued at approximately $19,465,000. Institutional investors own 86.90% of the company’s stock.

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.