CarGurus Inc (CARG) Given Average Rating of “Hold” by Brokerages

CarGurus Inc (NASDAQ:CARG) has received a consensus recommendation of “Hold” from the seven ratings firms that are presently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, five have issued a hold recommendation and one has assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $29.50.

CARG has been the subject of several recent analyst reports. BidaskClub upgraded CarGurus from a “sell” rating to a “hold” rating in a report on Friday, January 26th. Zacks Investment Research cut CarGurus from a “buy” rating to a “hold” rating in a report on Monday, January 15th.

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Several large investors have recently modified their holdings of CARG. Spinnaker Capital LLC purchased a new stake in shares of CarGurus during the 4th quarter worth about $410,972,000. Bollard Group LLC purchased a new stake in shares of CarGurus during the 4th quarter worth about $318,223,000. The Manufacturers Life Insurance Company purchased a new stake in shares of CarGurus during the 4th quarter worth about $100,212,000. Abdiel Capital Advisors LP purchased a new stake in shares of CarGurus during the 4th quarter worth about $7,495,000. Finally, Clearbridge Investments LLC purchased a new stake in shares of CarGurus during the 4th quarter worth about $6,752,000. Institutional investors and hedge funds own 57.41% of the company’s stock.

CarGurus (NASDAQ:CARG) traded down $0.94 on Wednesday, reaching $34.56. The company’s stock had a trading volume of 70,141 shares, compared to its average volume of 164,776. CarGurus has a 52 week low of $25.85 and a 52 week high of $38.85.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings results on Thursday, March 1st. The company reported $0.02 EPS for the quarter, beating the consensus estimate of $0.01 by $0.01. The business had revenue of $87.71 million during the quarter, compared to analysts’ expectations of $86.22 million. The firm’s quarterly revenue was up 197.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.27 EPS. equities research analysts forecast that CarGurus will post 0.1 earnings per share for the current fiscal year.

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About CarGurus

CarGurus, Inc is an online automotive marketplace connecting buyers and sellers of new and used cars. Using proprietary technology, search algorithms, and data analytics. The Company’s marketplace empowers users with unbiased third-party validation on pricing and dealer reputation as well as other information that aids them in finding Great Deals from Great Dealers.

Analyst Recommendations for CarGurus (NASDAQ:CARG)

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