CarGurus (NASDAQ:CARG) Price Target Increased to $35.00 by Analysts at BTIG Research

CarGurus (NASDAQ:CARG) had its target price upped by equities research analysts at BTIG Research from $30.00 to $35.00 in a research report issued to clients and investors on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the stock. BTIG Research’s price objective would suggest a potential upside of 9.58% from the stock’s current price.

A number of other analysts also recently weighed in on CARG. JMP Securities restated a “market outperform” rating and issued a $32.00 target price on shares of CarGurus in a research report on Monday, September 9th. Citigroup boosted their price objective on shares of CarGurus from $24.00 to $27.00 and gave the stock a “neutral” rating in a report on Wednesday, July 3rd. Jefferies Financial Group lifted their target price on shares of CarGurus from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Tuesday. B. Riley raised their price objective on CarGurus from $28.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, Oppenheimer boosted their target price on CarGurus from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, CarGurus presently has a consensus rating of “Moderate Buy” and an average target price of $30.59.

CarGurus Stock Performance

CARG traded up $0.28 on Tuesday, reaching $31.94. The company had a trading volume of 143,439 shares, compared to its average volume of 839,272. CarGurus has a 52-week low of $16.70 and a 52-week high of $32.19. The company has a market cap of $3.33 billion, a price-to-earnings ratio of 113.96, a P/E/G ratio of 1.48 and a beta of 1.56. The business has a 50 day simple moving average of $29.24 and a 200 day simple moving average of $26.01.

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, topping analysts’ consensus estimates of $0.23 by $0.07. The company had revenue of $218.69 million during the quarter, compared to the consensus estimate of $214.85 million. CarGurus had a negative net margin of 5.57% and a positive return on equity of 11.06%. As a group, equities research analysts predict that CarGurus will post 1.18 EPS for the current fiscal year.

Insider Activity at CarGurus

In other CarGurus news, COO Samuel Zales sold 25,168 shares of the business’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $28.34, for a total transaction 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other CarGurus news, COO Samuel Zales sold 25,168 shares of the company’s stock in a transaction that occurred 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 transaction, the chief operating officer now owns 480,583 shares in the company, valued at approximately $13,619,722.22. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Matthew Todd Quinn sold 3,495 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was 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 directly owns 205,696 shares of the company’s stock, valued at $6,053,633.28. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 61,065 shares of company stock worth $1,823,794 over the last quarter. 17.20% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On CarGurus

Hedge funds have recently bought and sold shares of the business. Signaturefd LLC raised its holdings in CarGurus by 81.3% in the third quarter. Signaturefd LLC now owns 959 shares of the company’s stock worth $29,000 after buying an additional 430 shares during the last quarter. Kathleen S. Wright Associates Inc. purchased a new position in CarGurus in the 3rd quarter worth approximately $30,000. CWM LLC lifted its position in CarGurus by 54.1% in the 2nd quarter. CWM LLC now owns 1,381 shares of the company’s stock valued at $36,000 after acquiring an additional 485 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in CarGurus by 43.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,579 shares of the company’s stock valued at $41,000 after purchasing an additional 479 shares during the last quarter. Finally, Headlands Technologies LLC bought a new stake in shares of CarGurus in the 1st quarter worth $49,000. 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.