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

CarGurus (NASDAQ:CARG) had its price target decreased by research analysts at Oppenheimer from $44.00 to $42.00 in a report issued on Monday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Oppenheimer’s price target points to a potential upside of 40.61% from the stock’s current price.

Other research analysts have also recently issued reports about the company. JMP Securities reissued a “market outperform” rating and set a $46.00 target price on shares of CarGurus in a research note on Monday, December 16th. B. Riley increased their price objective on shares of CarGurus from $30.00 to $40.00 and gave the stock a “buy” rating in a research note on Monday, November 11th. Royal Bank of Canada lifted their target price on CarGurus from $30.00 to $42.00 and gave the company an “outperform” rating in a research note on Monday, November 11th. Needham & Company LLC reissued a “buy” rating and issued a $45.00 price target on shares of CarGurus in a report on Friday. Finally, JPMorgan Chase & Co. boosted their price objective on CarGurus from $40.00 to $42.00 and gave the company an “overweight” rating in a research report on Friday. Two equities research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, CarGurus has a consensus rating of “Moderate Buy” and a consensus price target of $38.41.

CarGurus Stock Down 4.1 %

CARG stock traded down $1.28 during mid-day trading on Monday, hitting $29.87. 415,030 shares of the company were exchanged, compared to its average volume of 830,420. CarGurus has a 12-month low of $21.18 and a 12-month high of $41.33. The firm has a market capitalization of $3.10 billion, a P/E ratio of 165.95, a PEG ratio of 1.72 and a beta of 1.59. The business has a fifty day simple moving average of $37.81 and a 200-day simple moving average of $33.83.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings data on Thursday, February 20th. The company reported $0.44 earnings per share for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.06). The company had revenue of $228.54 million for the quarter, compared to analysts’ expectations of $231.72 million. CarGurus had a return on equity of 27.14% and a net margin of 2.34%. Research analysts predict that CarGurus will post 1.41 EPS for the current year.

Insider Activity

In related news, COO Samuel Zales sold 20,000 shares of CarGurus stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $38.36, for a total value of $767,200.00. Following the completion of the sale, the chief operating officer now directly owns 400,025 shares in the company, valued at approximately $15,344,959. This trade represents a 4.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CTO Matthew Todd Quinn sold 4,678 shares of the business’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $35.78, for a total transaction of $167,378.84. Following the completion of the sale, the chief technology officer now owns 195,795 shares in the company, valued at $7,005,545.10. This represents a 2.33 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 59,388 shares of company stock worth $2,204,338. 17.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Louisiana State Employees Retirement System boosted its stake in CarGurus by 0.7% during the fourth quarter. Louisiana State Employees Retirement System now owns 42,500 shares of the company’s stock worth $1,553,000 after buying an additional 300 shares during the period. Summit Investment Advisors Inc. lifted its holdings in shares of CarGurus by 4.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 9,075 shares of the company’s stock worth $332,000 after acquiring an additional 423 shares during the last quarter. Principal Securities Inc. grew its position in CarGurus by 82.7% during the 4th quarter. Principal Securities Inc. now owns 937 shares of the company’s stock worth $34,000 after purchasing an additional 424 shares during the last quarter. Signaturefd LLC lifted its position in CarGurus by 81.3% during the 3rd quarter. Signaturefd LLC now owns 959 shares of the company’s stock worth $29,000 after acquiring an additional 430 shares during the period. Finally, Fifth Third Bancorp grew its position in CarGurus by 100.0% in the 4th quarter. Fifth Third Bancorp now owns 912 shares of the company’s stock valued at $33,000 after buying an additional 456 shares during the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

About CarGurus

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.