CarGurus (NASDAQ:CARG – Get Free Report) updated its third quarter 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 0.380-0.440 for the period, compared to the consensus earnings per share estimate of 0.360. The company issued revenue guidance of $212.0 million-$232.0 million, compared to the consensus revenue estimate of $220.6 million. CarGurus also updated its Q3 guidance to $0.38-$0.44 EPS.
CarGurus Stock Up 20.3 %
Shares of CARG stock traded up $4.54 during trading hours on Friday, hitting $26.94. 2,005,431 shares of the company’s stock traded hands, compared to its average volume of 904,858. The stock has a market cap of $2.81 billion, a price-to-earnings ratio of 96.21, a PEG ratio of 1.40 and a beta of 1.57. The stock’s fifty day simple moving average is $25.10 and its two-hundred day simple moving average is $23.81. CarGurus has a 12-month low of $16.70 and a 12-month high of $27.00.
CarGurus (NASDAQ:CARG – Get Free Report) last released its earnings results on Thursday, May 9th. The company reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.03. CarGurus had a return on equity of 8.80% and a net margin of 4.04%. The firm had revenue of $215.80 million for the quarter, compared to analysts’ expectations of $217.29 million. On average, equities analysts forecast that CarGurus will post 0.98 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
Read Our Latest Analysis on CARG
Insider Buying and Selling
In other CarGurus news, CTO Matthew Todd Quinn sold 3,978 shares of the stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $24.91, for a total value of $99,091.98. Following the transaction, the chief technology officer now owns 217,374 shares of the company’s stock, valued at $5,414,786.34. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, COO Samuel Zales sold 17,668 shares of the business’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $24.73, for a total transaction of $436,929.64. Following the completion of the sale, the chief operating officer now owns 548,845 shares of the company’s stock, valued at approximately $13,572,936.85. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Matthew Todd Quinn sold 3,978 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $24.91, for a total value of $99,091.98. Following the completion of the transaction, the chief technology officer now directly owns 217,374 shares in the company, valued at $5,414,786.34. The disclosure for this sale can be found here. Insiders sold 83,494 shares of company stock valued at $2,119,722 over the last 90 days. Company insiders own 17.20% 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.
Further Reading
- Five stocks we like better than CarGurus
- When to Sell a Stock for Profit or Loss
- Cassava Sciences: A Hot Stock to Trade, Invest, or Avoid?
- Consumer Discretionary Stocks Explained
- MarketBeat Week in Review – 8/5 – 8/9
- Low PE Growth Stocks: Unlocking Investment Opportunities
- The Cannabis Sector: Profitability Takes Center Stage
Receive News & Ratings for CarGurus Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CarGurus and related companies with MarketBeat.com's FREE daily email newsletter.