CarGurus (NASDAQ:CARG) Given New $38.00 Price Target at Jefferies Financial Group

CarGurus (NASDAQ:CARG) had its target price boosted by Jefferies Financial Group from $35.00 to $38.00 in a research report report published on Tuesday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts have also issued reports on CARG. Needham & Company LLC boosted their price target on CarGurus from $25.00 to $27.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Royal Bank of Canada upped their target price on CarGurus from $27.00 to $30.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. B. Riley upped their target price on CarGurus from $28.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. upped their target price on CarGurus from $29.00 to $32.00 and gave the stock an “overweight” rating in a research report on Monday, August 12th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $32.00 target price on shares of CarGurus in a research report on Monday, September 9th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $30.59.

CarGurus Trading Up 1.2 %

NASDAQ:CARG opened at $32.04 on Tuesday. The stock has a market cap of $3.34 billion, a P/E ratio of 114.43, a price-to-earnings-growth ratio of 1.48 and a beta of 1.56. The stock’s 50-day moving average is $29.32 and its 200-day moving average is $26.07. CarGurus has a 1-year low of $16.70 and a 1-year high of $32.36.

CarGurus (NASDAQ:CARG) last announced its earnings results on Thursday, August 8th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.23 by $0.07. CarGurus had a positive return on equity of 11.06% and a negative net margin of 5.57%. The business had revenue of $218.69 million for the quarter, compared to analysts’ expectations of $214.85 million. As a group, equities analysts forecast that CarGurus will post 1.18 EPS for the current year.

Insider Buying and Selling

In related news, CMO Dafna Sarnoff sold 3,107 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $28.42, for a total transaction of $88,300.94. Following the completion of the sale, the chief marketing officer now owns 128,952 shares in the company, valued at approximately $3,664,815.84. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other CarGurus news, CMO Dafna Sarnoff sold 3,107 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $28.42, for a total value of $88,300.94. Following the completion of the transaction, the chief marketing officer now owns 128,952 shares in the company, valued at $3,664,815.84. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Samuel Zales sold 25,168 shares of the company’s stock in a transaction on Friday, August 16th. The shares were sold at an average price of $28.34, for a total value of $713,261.12. Following the completion of the transaction, the chief operating officer now owns 480,583 shares of the company’s stock, valued at $13,619,722.22. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 61,065 shares of company stock worth $1,823,794. 17.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. UniSuper Management Pty Ltd bought a new position in CarGurus in the 1st quarter valued at $483,000. Capstone Investment Advisors LLC bought a new position in CarGurus in the 1st quarter valued at $1,315,000. Jennison Associates LLC bought a new position in shares of CarGurus during the 1st quarter worth $707,000. Swedbank AB bought a new position in shares of CarGurus during the 1st quarter worth $1,352,000. Finally, SG Capital Management LLC bought a new position in shares of CarGurus during the 1st quarter worth $4,222,000. Institutional investors own 86.90% of the company’s stock.

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.