CarGurus (NASDAQ:CARG) Given New $44.00 Price Target at Oppenheimer

by · The Markets Daily

CarGurus (NASDAQ:CARG – Free Report) had its target price upped by Oppenheimer from $32.00 to $44.00 in a research report sent to investors on Friday morning,Benzinga reports. The firm currently has an outperform rating on the stock.

A number of other brokerages also recently weighed in on CARG. JMP Securities reissued a “market outperform” rating and issued a $32.00 price target on shares of CarGurus in a report on Monday, September 9th. JPMorgan Chase & Co. boosted their price target on shares of CarGurus from $29.00 to $32.00 and gave the stock an “overweight” rating in a report on Monday, August 12th. Jefferies Financial Group boosted their price target on shares of CarGurus from $35.00 to $38.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Royal Bank of Canada boosted their price target on shares of CarGurus from $27.00 to $30.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Finally, BTIG Research boosted their price target on shares of CarGurus from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Three research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $34.59.

View Our Latest Stock Report on CarGurus

CarGurus Stock Performance

Shares of NASDAQ CARG traded up $1.45 during trading on Friday, hitting $34.81. The stock had a trading volume of 1,309,888 shares, compared to its average volume of 478,031. CarGurus has a 12 month low of $18.59 and a 12 month high of $37.89. The firm has a fifty day moving average of $30.25 and a two-hundred day moving average of $26.89.

CarGurus (NASDAQ:CARG – Get Free Report) last posted its earnings results on Thursday, August 8th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.23 by $0.07. The firm had revenue of $218.69 million during the quarter, compared to analyst estimates 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 1.16 EPS for the current fiscal year.

Insider Transactions at CarGurus

In other news, CMO Dafna Sarnoff sold 3,107 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $28.42, for a total value of $88,300.94. Following the sale, the chief marketing officer now directly owns 128,952 shares of the company’s stock, 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 the SEC website. In other news, CMO Dafna Sarnoff sold 3,107 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $28.42, for a total value of $88,300.94. Following the sale, the chief marketing officer now directly owns 128,952 shares of the company’s stock, 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 the SEC website. Also, 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 completion of the transaction, the chief operating officer now owns 480,583 shares in the company, valued at approximately $13,619,722.22. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 61,065 shares of company stock valued at $1,823,794. 17.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Intech Investment Management LLC bought a new position in CarGurus during the third quarter valued at approximately $673,000. B. Metzler seel. Sohn & Co. Holding AG bought a new position in CarGurus during the third quarter valued at approximately $1,072,000. Prudent Man Advisors LLC bought a new position in CarGurus during the third quarter valued at approximately $206,000. Natixis Advisors LLC grew its position in CarGurus by 46.6% during the third quarter. Natixis Advisors LLC now owns 23,248 shares of the company’s stock valued at $698,000 after acquiring an additional 7,393 shares during the last quarter. Finally, KBC Group NV grew its position in CarGurus by 34.0% during the third quarter. KBC Group NV now owns 3,397 shares of the company’s stock valued at $102,000 after acquiring an additional 862 shares during the last quarter. 86.90% of the stock is currently owned by institutional investors.

CarGurus Company Profile

(Get Free Report)

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.

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