CarGurus (NASDAQ:CARG) Releases Q4 2024 Earnings Guidance

CarGurus (NASDAQ:CARG) issued an update on its fourth quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 0.500-0.550 for the period, compared to the consensus 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.

Wall Street Analysts Forecast Growth

CARG has been the subject of a number of analyst reports. Royal Bank of Canada upped their price target on CarGurus from $27.00 to $30.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. DA Davidson lifted their target price on CarGurus from $26.50 to $38.50 and gave the stock a “neutral” rating in a research report on Friday. BTIG Research boosted their price target on CarGurus from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. upped their target price on CarGurus from $36.00 to $40.00 and gave the company an “overweight” rating in a research report on Friday. Finally, B. Riley upped their price target on shares of CarGurus from $28.00 to $30.00 and gave the company a “buy” rating in a report on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $34.59.

CarGurus Trading Up 4.3 %

CARG traded up $1.45 on Friday, reaching $34.81. The company had a trading volume of 1,309,888 shares, compared to its average volume of 478,031. The company has a market capitalization of $3.60 billion, a P/E ratio of -75.67, a PEG ratio of 1.83 and a beta of 1.55. The company has a fifty day moving average of $30.25 and a 200-day moving average of $26.94. CarGurus has a one year low of $18.59 and a one year high of $37.89.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings data on Thursday, August 8th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.07. The business had revenue of $218.69 million during the quarter, compared to analysts’ expectations of $214.85 million. CarGurus had a negative net margin of 5.57% and a positive return on equity of 11.06%. Research analysts predict that CarGurus will post 1.16 EPS for the current year.

Insider Transactions at CarGurus

In other 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 sale, the chief operating officer now directly owns 480,583 shares of the company’s stock, valued at $13,619,722.22. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, COO Samuel Zales sold 25,168 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $28.34, for a total value of $713,261.12. Following the transaction, the chief operating officer now directly owns 480,583 shares of the company’s stock, valued at approximately $13,619,722.22. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CTO Matthew Todd Quinn sold 3,495 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $29.43, for a total value of $102,857.85. Following the completion of the transaction, the chief technology officer now owns 205,696 shares in the company, valued at $6,053,633.28. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 61,065 shares of company stock valued at $1,823,794. Corporate 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.