CarGurus (NASDAQ:CARG) Given New $42.00 Price Target at Oppenheimer

CarGurus (NASDAQ:CARG) had its price objective reduced by Oppenheimer from $44.00 to $42.00 in a report released on Monday morning,Benzinga reports. They currently have an outperform rating on the stock.

Other research analysts have also issued reports about the company. Royal Bank of Canada increased their target price on CarGurus from $30.00 to $42.00 and gave the stock an “outperform” rating in a research report on Monday, November 11th. DA Davidson upped their price target on CarGurus from $26.50 to $38.50 and gave the stock a “neutral” rating in a research note on Friday, November 8th. JPMorgan Chase & Co. lifted their price objective on CarGurus from $40.00 to $42.00 and gave the company an “overweight” rating in a research note on Friday. Needham & Company LLC reiterated a “buy” rating and set a $45.00 target price on shares of CarGurus in a report on Friday. Finally, Citigroup upgraded shares of CarGurus from a “hold” rating to a “strong-buy” rating in a report on Monday, November 11th. Two analysts have rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $38.41.

CarGurus Trading Down 0.7 %

Shares of NASDAQ:CARG opened at $30.92 on Monday. The firm has a market cap of $3.21 billion, a price-to-earnings ratio of 171.79, a PEG ratio of 1.72 and a beta of 1.59. The stock’s 50-day moving average price is $37.65 and its two-hundred day moving average price is $33.89. CarGurus has a 12-month low of $21.18 and a 12-month high of $41.33.

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

Insider Buying and Selling

In other news, COO Samuel Zales sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $37.70, for a total transaction of $282,750.00. Following the completion of the sale, the chief operating officer now owns 434,821 shares of the company’s stock, valued at approximately $16,392,751.70. This trade represents a 1.70 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Zachary Emerson Hallowell sold 4,580 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $35.78, for a total transaction of $163,872.40. Following the completion of the sale, the chief executive officer now directly owns 120,051 shares in the company, valued at $4,295,424.78. This represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 59,388 shares of company stock valued at $2,204,338 in the last quarter. Company insiders own 17.20% of the company’s stock.

Institutional Investors Weigh In On CarGurus

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Point72 Hong Kong Ltd acquired a new position in CarGurus in the third quarter worth about $28,000. Signaturefd LLC increased its stake in CarGurus by 81.3% during the third quarter. Signaturefd LLC now owns 959 shares of the company’s stock valued at $29,000 after purchasing an additional 430 shares during the last quarter. Global Retirement Partners LLC raised its holdings in shares of CarGurus by 198.5% during the fourth quarter. Global Retirement Partners LLC now owns 800 shares of the company’s stock worth $29,000 after purchasing an additional 532 shares during the period. Fifth Third Bancorp raised its holdings in shares of CarGurus by 100.0% during the fourth quarter. Fifth Third Bancorp now owns 912 shares of the company’s stock worth $33,000 after purchasing an additional 456 shares during the period. Finally, Principal Securities Inc. lifted its position in shares of CarGurus by 82.7% in the 4th quarter. Principal Securities Inc. now owns 937 shares of the company’s stock worth $34,000 after buying an additional 424 shares during the last quarter. 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.