CarGurus, Inc. (NASDAQ:CARG) Receives $20.82 Average Price Target from Analysts

Posted by on Apr 24th, 2023

CarGurus, Inc. (NASDAQ:CARG – Get Rating) has received an average rating of “Hold” from the twelve research firms that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and five have given a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $20.82.

A number of research firms have recently commented on CARG. Royal Bank of Canada raised their price objective on CarGurus from $19.00 to $22.00 and gave the stock an “outperform” rating in a report on Wednesday, March 1st. Oppenheimer raised their price objective on CarGurus from $16.00 to $21.00 and gave the stock an “outperform” rating in a report on Wednesday, March 1st. Needham & Company LLC restated a “buy” rating and issued a $20.00 price objective on shares of CarGurus in a report on Wednesday, March 1st. Raymond James raised their price objective on CarGurus from $16.00 to $20.00 and gave the stock an “outperform” rating in a report on Wednesday, March 1st. Finally, Piper Sandler downgraded CarGurus from a “neutral” rating to an “underweight” rating and set a $12.00 price objective on the stock. in a report on Thursday, February 16th.

CarGurus Trading Down 1.2 %

NASDAQ CARG opened at $16.99 on Friday. The business’s 50-day moving average price is $17.51 and its 200 day moving average price is $15.56. CarGurus has a twelve month low of $9.14 and a twelve month high of $37.09. The company has a market capitalization of $1.95 billion, a PE ratio of -60.68, a price-to-earnings-growth ratio of 30.51 and a beta of 1.63.

CarGurus (NASDAQ:CARG – Get Rating) last released its earnings results on Tuesday, February 28th. The company reported $0.25 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.29. CarGurus had a return on equity of 20.16% and a net margin of 11.71%. The firm had revenue of $286.74 million for the quarter, compared to the consensus estimate of $279.28 million. Equities analysts predict that CarGurus will post 0.04 EPS for the current year.

Institutional Investors Weigh In On CarGurus

A number of hedge funds have recently bought and sold shares of the business. State Board of Administration of Florida Retirement System grew its stake in CarGurus by 2.2% during the 4th quarter. State Board of Administration of Florida Retirement System now owns 27,074 shares of the company’s stock valued at $379,000 after purchasing an additional 580 shares in the last quarter. Macquarie Group Ltd. grew its position in shares of CarGurus by 11.2% in the 2nd quarter. Macquarie Group Ltd. now owns 8,148 shares of the company’s stock worth $175,000 after acquiring an additional 818 shares in the last quarter. Great West Life Assurance Co. Can grew its position in shares of CarGurus by 23.3% in the 3rd quarter. Great West Life Assurance Co. Can now owns 4,928 shares of the company’s stock worth $69,000 after acquiring an additional 932 shares in the last quarter. Point72 Hong Kong Ltd grew its position in shares of CarGurus by 16.8% in the 2nd quarter. Point72 Hong Kong Ltd now owns 6,491 shares of the company’s stock worth $139,000 after acquiring an additional 934 shares in the last quarter. Finally, Arizona State Retirement System grew its position in shares of CarGurus by 4.1% in the 4th quarter. Arizona State Retirement System now owns 24,630 shares of the company’s stock worth $345,000 after acquiring an additional 981 shares in the last quarter. Institutional investors and hedge funds own 89.37% of the company’s stock.

About CarGurus

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Cargurus, Inc is an online automotive platform, which engages in buying and selling vehicles that is building upon its listings marketplace with digital retail solutions and the CarOffer digital wholesale platform. It operates through the following segments: U.S. Marketplace, Digital Wholesale, and Other.

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