CarGurus, Inc. (NASDAQ:CARG) Receives $40.75 Average PT from Brokerages

CarGurus, Inc. (NASDAQ:CARG) has been assigned an average recommendation of “Moderate Buy” from the fifteen research firms that are currently covering the stock, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation, seven have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $40.75.

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their price target on CarGurus from $36.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, May 8th. UBS Group lifted their price objective on CarGurus from $37.00 to $40.00 and gave the company a “neutral” rating in a research note on Friday, August 7th. Citigroup upped their target price on CarGurus from $32.00 to $39.00 and gave the stock a “neutral” rating in a research note on Friday, August 14th. Needham & Company LLC lifted their price target on CarGurus from $43.00 to $44.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Finally, Royal Bank Of Canada increased their price target on shares of CarGurus from $35.00 to $42.00 and gave the stock an “outperform” rating in a report on Friday, August 7th.

Insiders Place Their Bets

In other news, Director Greg Schwartz sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, August 12th. The stock was sold at an average price of $36.07, for a total transaction of $360,700.00. Following the sale, the director directly owned 8,716 shares in the company, valued at $314,386.12. This trade represents a 53.43% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Matthew Quinn sold 3,824 shares of the company’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $35.03, for a total value of $133,954.72. Following the completion of the transaction, the chief technology officer directly owned 233,146 shares of the company’s stock, valued at $8,167,104.38. The trade was a 1.61% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 61,943 shares of company stock valued at $2,238,736. Insiders own 18.19% of the company’s stock.

Institutional Trading of CarGurus

Several large investors have recently added to or reduced their stakes in the stock. Public Employees Retirement System of Ohio purchased a new position in shares of CarGurus during the 2nd quarter worth $43,000. Brown Brothers Harriman & Co. acquired a new stake in CarGurus during the third quarter worth about $46,000. Torren Management LLC acquired a new stake in CarGurus during the fourth quarter worth about $49,000. EverSource Wealth Advisors LLC raised its stake in CarGurus by 491.7% during the second quarter. EverSource Wealth Advisors LLC now owns 1,639 shares of the company’s stock worth $55,000 after purchasing an additional 1,362 shares during the period. Finally, Clearstead Advisors LLC raised its stake in CarGurus by 321.2% during the fourth quarter. Clearstead Advisors LLC now owns 2,127 shares of the company’s stock worth $82,000 after purchasing an additional 1,622 shares during the period. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

CarGurus Stock Performance

Shares of NASDAQ:CARG opened at $34.23 on Friday. The firm has a fifty day moving average price of $35.68 and a 200 day moving average price of $33.36. CarGurus has a fifty-two week low of $26.39 and a fifty-two week high of $41.22. The firm has a market cap of $3.05 billion, a price-to-earnings ratio of 18.60, a P/E/G ratio of 1.23 and a beta of 1.16.

CarGurus (NASDAQ:CARG) last announced its quarterly earnings results on Thursday, August 6th. The company reported $0.66 EPS for the quarter, topping the consensus estimate of $0.61 by $0.05. The business had revenue of $250.97 million for the quarter, compared to analysts’ expectations of $249.85 million. CarGurus had a net margin of 18.06% and a return on equity of 62.88%. The business’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.57 EPS. CarGurus has set its Q3 2026 guidance at 0.630-0.690 EPS. As a group, research analysts predict that CarGurus will post 2.17 earnings per share for the current year.

About CarGurus

CarGurus, Inc operates an online automotive marketplace designed to connect buyers and sellers of new and used vehicles. Through its proprietary search engine and data-driven pricing tools, the platform enables consumers to compare listings, assess fair market values and locate local dealers offering competitive deals. CarGurus also provides detailed vehicle history reports, dealer reviews and financing options to streamline the car-shopping process for both private parties and franchised dealerships.

The company’s core product offerings include Instant Market Value (IMV), which leverages pricing algorithms to help buyers identify over- or under-priced vehicles, as well as dealer subscription services that grant automotive retailers access to lead generation tools, targeted advertising and dynamic pricing insights.