JMP Securities Reiterates Market Perform Rating for CarGurus (NASDAQ:CARG)

CarGurus (NASDAQ:CARG)‘s stock had its “market perform” rating reaffirmed by research analysts at JMP Securities in a report issued on Wednesday, Benzinga reports.

Several other research firms have also issued reports on CARG. Oppenheimer upped their target price on CarGurus from $26.00 to $30.00 and gave the stock an “outperform” rating in a report on Tuesday, February 27th. UBS Group upped their target price on CarGurus from $26.00 to $27.00 and gave the stock a “neutral” rating in a report on Friday, March 15th. Finally, Needham & Company LLC boosted their price target on CarGurus from $22.00 to $24.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $24.90.

CarGurus Price Performance

Shares of CarGurus stock opened at $21.54 on Wednesday. CarGurus has a one year low of $15.34 and a one year high of $24.64. The firm has a market cap of $2.31 billion, a price-to-earnings ratio of 119.67, a price-to-earnings-growth ratio of 1.32 and a beta of 1.58. The stock’s 50-day moving average is $22.91 and its 200-day moving average is $21.74.

CarGurus (NASDAQ:CARG) last released its earnings results on Monday, February 26th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.01. CarGurus had a return on equity of 7.74% and a net margin of 3.40%. The business had revenue of $223.12 million for the quarter, compared to analyst estimates of $220.05 million. During the same quarter in the prior year, the company posted $0.25 earnings per share. CarGurus’s revenue was down 22.2% on a year-over-year basis. On average, equities analysts expect that CarGurus will post 0.94 EPS for the current year.

Insider Activity

In other news, CMO Dafna Sarnoff sold 4,301 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $23.04, for a total value of $99,095.04. Following the transaction, the chief marketing officer now owns 163,798 shares of the company’s stock, valued at $3,773,905.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Andrea Lee Eldridge sold 22,358 shares of the company’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $22.13, for a total value of $494,782.54. Following the transaction, the insider now owns 117,432 shares of the company’s stock, valued at $2,598,770.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CMO Dafna Sarnoff sold 4,301 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $23.04, for a total value of $99,095.04. Following the completion of the sale, the chief marketing officer now owns 163,798 shares of the company’s stock, valued at $3,773,905.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 113,793 shares of company stock valued at $2,523,342. 15.70% of the stock is owned by insiders.

Institutional Investors Weigh In On CarGurus

Institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC bought a new stake in shares of CarGurus in the fourth quarter valued at approximately $32,000. Exchange Traded Concepts LLC bought a new stake in shares of CarGurus in the third quarter valued at approximately $30,000. First Horizon Advisors Inc. boosted its stake in shares of CarGurus by 56.8% in the first quarter. First Horizon Advisors Inc. now owns 1,741 shares of the company’s stock valued at $33,000 after buying an additional 631 shares during the period. Acadian Asset Management LLC bought a new stake in shares of CarGurus in the third quarter valued at approximately $32,000. Finally, Coppell Advisory Solutions LLC bought a new stake in shares of CarGurus in the second quarter valued at approximately $48,000. 86.90% of the stock is currently owned by institutional investors.

CarGurus Company Profile

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.