CarGurus (NASDAQ:CARG) Issues Q4 2024 Earnings Guidance

by · The Cerbat Gem

CarGurus (NASDAQ:CARG – Get Free Report) issued an update on its fourth quarter 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 0.500-0.550 for the period, compared to the consensus EPS estimate of 0.460. The company issued revenue guidance of $219.0 million-$239.0 million, compared to the consensus revenue estimate of $225.6 million. CarGurus also updated its FY 2024 guidance to 1.670-1.730 EPS.

CarGurus Stock Performance

CarGurus stock traded up $1.45 on Friday, reaching $34.81. The company’s stock had a trading volume of 1,309,888 shares, compared to its average volume of 478,031. The business’s fifty day moving average price is $30.25 and its 200 day moving average price is $26.94. CarGurus has a twelve month low of $18.59 and a twelve month high of $37.89. The company has a market cap of $3.60 billion, a price-to-earnings ratio of -75.67, a PEG ratio of 1.83 and a beta of 1.55.

CarGurus (NASDAQ:CARG – Get Free Report) last posted its quarterly earnings results on Thursday, August 8th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.23 by $0.07. The business had revenue of $218.69 million for the quarter, compared to analysts’ expectations of $214.85 million. CarGurus had a positive return on equity of 11.06% and a negative net margin of 5.57%. As a group, equities analysts forecast that CarGurus will post 1.16 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on CARG. Royal Bank of Canada boosted their price objective on shares of CarGurus from $27.00 to $30.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Needham & Company LLC upped their price objective on CarGurus from $27.00 to $39.00 and gave the stock a “buy” rating in a research report on Friday. Jefferies Financial Group boosted their target price on CarGurus from $35.00 to $38.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. B. Riley lifted their price objective on shares of CarGurus from $28.00 to $30.00 and gave the company a “buy” rating in a report on Friday, August 9th. Finally, DA Davidson increased their target price on shares of CarGurus from $26.50 to $38.50 and gave the stock a “neutral” rating in a report on Friday. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $34.59.

Get Our Latest Research Report on CarGurus

Insider Buying and Selling

In other news, CTO Matthew Todd Quinn sold 3,495 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $29.43, for a total transaction of $102,857.85. Following the completion of the transaction, the chief technology officer now owns 205,696 shares of the company’s stock, valued at approximately $6,053,633.28. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, COO Samuel Zales sold 25,168 shares of the business’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $31.62, for a total value of $795,812.16. Following the transaction, the chief operating officer now directly owns 449,821 shares of the company’s stock, valued at $14,223,340.02. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CTO Matthew Todd Quinn sold 3,495 shares of CarGurus stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $29.43, for a total value of $102,857.85. Following the completion of the sale, the chief technology officer now owns 205,696 shares of the company’s stock, valued at approximately $6,053,633.28. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 61,065 shares of company stock worth $1,823,794 in the last three months. 17.20% of the stock is owned by corporate insiders.

About CarGurus

(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.

Featured Stories