CarGurus (NASDAQ:CARG) Price Target Lowered to $42.00 at Oppenheimer

CarGurus (NASDAQ:CARG) had its price objective trimmed by Oppenheimer from $44.00 to $42.00 in a research note released on Monday,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other research analysts have also weighed in on the company. Royal Bank of Canada raised their price objective on CarGurus from $30.00 to $42.00 and gave the company an “outperform” rating in a report on Monday, November 11th. B. Riley upped their target price on CarGurus from $30.00 to $40.00 and gave the company a “buy” rating in a report on Monday, November 11th. DA Davidson raised their target price on CarGurus from $26.50 to $38.50 and gave the stock a “neutral” rating in a research note on Friday, November 8th. Needham & Company LLC reissued a “buy” rating and set a $45.00 price target on shares of CarGurus in a research report on Friday, February 21st. Finally, JMP Securities restated a “market outperform” rating and set a $46.00 price objective 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 assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $38.41.

CarGurus Price Performance

CarGurus stock opened at $31.21 on Monday. The company’s 50-day moving average is $37.43 and its 200 day moving average is $33.90. The firm has a market capitalization of $3.24 billion, a P/E ratio of 173.40, a price-to-earnings-growth ratio of 1.72 and a beta of 1.59. CarGurus has a 1-year low of $21.18 and a 1-year high of $41.33.

CarGurus (NASDAQ:CARG) last released its quarterly earnings results on Thursday, February 20th. The company reported $0.44 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.06). CarGurus had a net margin of 2.34% and a return on equity of 27.14%. The business had revenue of $228.54 million during the quarter, compared to analysts’ expectations of $231.72 million. Research analysts anticipate that CarGurus will post 1.41 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Zachary Emerson Hallowell sold 4,580 shares of the business’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $35.78, for a total transaction of $163,872.40. Following the completion of the sale, the chief executive officer now owns 120,051 shares in the company, valued at approximately $4,295,424.78. The trade was a 3.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Samuel Zales sold 7,500 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $37.70, for a total value of $282,750.00. Following the transaction, the chief operating officer now owns 434,821 shares in the company, valued at approximately $16,392,751.70. This represents a 1.70 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 59,388 shares of company stock valued at $2,204,338. 17.20% of the stock is owned by insiders.

Institutional Trading of CarGurus

A number of hedge funds and other institutional investors have recently modified their holdings of CARG. Allspring Global Investments Holdings LLC boosted its holdings in shares of CarGurus by 16.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 244,828 shares of the company’s stock worth $8,748,000 after buying an additional 34,555 shares during the period. State Street Corp boosted its position in CarGurus by 4.8% during the 3rd quarter. State Street Corp now owns 3,298,894 shares of the company’s stock worth $99,066,000 after acquiring an additional 151,862 shares during the period. Charles Schwab Investment Management Inc. grew its stake in CarGurus by 9.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,043,217 shares of the company’s stock valued at $31,328,000 after acquiring an additional 89,815 shares in the last quarter. Alpha DNA Investment Management LLC acquired a new position in shares of CarGurus in the 3rd quarter valued at about $503,000. Finally, Los Angeles Capital Management LLC increased its stake in CarGurus by 51.9% in the 3rd quarter. Los Angeles Capital Management LLC now owns 64,417 shares of the company’s stock valued at $1,934,000 after buying an additional 22,004 shares during the period. 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.