CarGurus (NASDAQ:CARG) Price Target Increased to $30.00 by Analysts at BTIG Research

CarGurus (NASDAQ:CARG) had its target price raised by BTIG Research from $28.00 to $30.00 in a research report released on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other analysts have also issued reports on CARG. Oppenheimer increased their target price on CarGurus from $30.00 to $32.00 and gave the stock an outperform rating in a report on Friday. DA Davidson increased their target price on CarGurus from $22.00 to $25.50 and gave the stock a neutral rating in a report on Monday, May 13th. Citigroup upped their price objective on CarGurus from $24.00 to $27.00 and gave the stock a neutral rating in a research report on Wednesday, July 3rd. JMP Securities restated a market outperform rating and set a $30.00 price objective on shares of CarGurus in a research report on Wednesday, July 10th. Finally, Royal Bank of Canada upped their price objective on CarGurus from $26.00 to $27.00 and gave the stock an outperform rating in a research report on Friday, May 10th. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and an average target price of $28.75.

CarGurus Stock Up 20.3 %

Shares of CARG traded up $4.54 during trading hours on Friday, hitting $26.94. 2,005,431 shares of the company were exchanged, compared to its average volume of 904,858. The company has a market cap of $2.81 billion, a price-to-earnings ratio of 96.21, a P/E/G ratio of 1.40 and a beta of 1.57. CarGurus has a fifty-two week low of $16.70 and a fifty-two week high of $27.00. The firm’s fifty day moving average is $25.10 and its 200 day moving average is $23.82.

CarGurus (NASDAQ:CARG) last released its earnings results on Thursday, May 9th. The company reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.03. The company had revenue of $215.80 million for the quarter, compared to analyst estimates of $217.29 million. CarGurus had a return on equity of 8.80% and a net margin of 4.04%. Analysts anticipate that CarGurus will post 0.98 EPS for the current year.

Insider Buying and Selling at CarGurus

In other CarGurus news, COO Samuel Zales sold 25,168 shares of the stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $26.49, for a total value of $666,700.32. Following the completion of the transaction, the chief operating officer now directly owns 488,083 shares in the company, valued at $12,929,318.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO Samuel Zales sold 25,168 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $26.49, for a total transaction of $666,700.32. Following the completion of the transaction, the chief operating officer now directly owns 488,083 shares in the company, valued at $12,929,318.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CTO Matthew Todd Quinn sold 3,978 shares of the firm’s 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 disclosure for this sale can be found here. Over the last three months, insiders sold 83,494 shares of company stock worth $2,119,722. 17.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CarGurus

A number of hedge funds have recently made changes to their positions in the stock. Lazard Asset Management LLC raised its position in shares of CarGurus by 2.2% during the first quarter. Lazard Asset Management LLC now owns 19,510 shares of the company’s stock worth $450,000 after acquiring an additional 420 shares during the last quarter. GAMMA Investing LLC grew its stake in CarGurus by 25.9% during the second quarter. GAMMA Investing LLC now owns 2,066 shares of the company’s stock worth $54,000 after purchasing an additional 425 shares during the period. Raymond James Trust N.A. grew its stake in CarGurus by 1.9% during the second quarter. Raymond James Trust N.A. now owns 24,566 shares of the company’s stock worth $644,000 after purchasing an additional 450 shares during the period. Nisa Investment Advisors LLC grew its stake in CarGurus by 43.5% during the second quarter. Nisa Investment Advisors LLC now owns 1,579 shares of the company’s stock worth $41,000 after purchasing an additional 479 shares during the period. Finally, CWM LLC grew its stake in CarGurus by 54.1% during the second quarter. CWM LLC now owns 1,381 shares of the company’s stock worth $36,000 after purchasing an additional 485 shares during the period. 86.90% of the stock is currently owned by institutional investors.

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.