Analysts Set CarGurus, Inc. (NASDAQ:CARG) Target Price at $37.14

CarGurus, Inc. (NASDAQ:CARG) has been assigned a consensus recommendation of “Moderate Buy” from the eleven ratings firms that are presently covering the company, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $37.14.

Several equities research analysts have recently issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $45.00 target price on shares of CarGurus in a report on Friday, February 21st. JPMorgan Chase & Co. downgraded CarGurus from an “overweight” rating to a “neutral” rating and lowered their target price for the company from $42.00 to $34.00 in a research report on Thursday, March 27th. Oppenheimer decreased their price target on shares of CarGurus from $44.00 to $42.00 and set an “outperform” rating on the stock in a research note on Monday, February 24th. JMP Securities dropped their price objective on shares of CarGurus from $43.00 to $38.00 and set a “market outperform” rating for the company in a research note on Wednesday, April 9th. Finally, UBS Group decreased their target price on shares of CarGurus from $36.00 to $29.00 and set a “neutral” rating on the stock in a research report on Thursday, April 10th.

Insider Buying and Selling at CarGurus

In other CarGurus news, COO Samuel Zales sold 20,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $38.36, for a total transaction of $767,200.00. Following the transaction, the chief operating officer now directly owns 400,025 shares in the company, valued at $15,344,959. This represents a 4.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 40,000 shares of company stock valued at $1,343,400 in the last ninety days. Corporate insiders own 17.20% of the company’s stock.

Institutional Investors Weigh In On CarGurus

Hedge funds have recently modified their holdings of the business. FMR LLC raised its stake in CarGurus by 91.1% in the third quarter. FMR LLC now owns 13,840 shares of the company’s stock worth $416,000 after buying an additional 6,599 shares in the last quarter. State Street Corp raised its position in shares of CarGurus by 4.8% in 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 in the last quarter. Barclays PLC lifted its stake in shares of CarGurus by 252.2% during the 3rd quarter. Barclays PLC now owns 169,461 shares of the company’s stock worth $5,089,000 after purchasing an additional 121,341 shares during the last quarter. Geode Capital Management LLC boosted its position in CarGurus by 3.8% during the third quarter. Geode Capital Management LLC now owns 2,055,145 shares of the company’s stock valued at $61,728,000 after purchasing an additional 74,730 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in CarGurus by 0.8% during the third quarter. Franklin Resources Inc. now owns 261,890 shares of the company’s stock valued at $8,150,000 after purchasing an additional 2,051 shares in the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

CarGurus Trading Down 1.4 %

NASDAQ:CARG opened at $26.24 on Tuesday. The stock has a 50-day moving average price of $30.55 and a 200 day moving average price of $34.02. CarGurus has a 12-month low of $21.65 and a 12-month high of $41.33. The stock has a market capitalization of $2.74 billion, a P/E ratio of 145.79, a P/E/G ratio of 1.72 and a beta of 1.46.

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

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.