Oppenheimer Increases CarGurus (NASDAQ:CARG) Price Target to $44.00

CarGurus (NASDAQ:CARG) had its price target increased by Oppenheimer from $32.00 to $44.00 in a research note issued to investors on Friday,Benzinga reports. They currently have an outperform rating on the stock.

CARG has been the topic of several other research reports. B. Riley lifted their price target on shares of CarGurus from $28.00 to $30.00 and gave the company a “buy” rating in a report on Friday, August 9th. Royal Bank of Canada boosted their target price on shares of CarGurus from $27.00 to $30.00 and gave the company an “outperform” rating in a report on Friday, August 9th. JPMorgan Chase & Co. boosted their target price on shares of CarGurus from $29.00 to $32.00 and gave the company an “overweight” rating in a report on Monday, August 12th. JMP Securities restated a “market outperform” rating and set a $32.00 target price on shares of CarGurus in a report on Monday, September 9th. Finally, DA Davidson boosted their target price on shares of CarGurus from $26.50 to $38.50 and gave the company a “neutral” rating in a report on Friday. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $34.59.

CarGurus Stock Up 4.3 %

Shares of NASDAQ CARG traded up $1.45 during mid-day trading on Friday, hitting $34.81. The stock had a trading volume of 1,309,888 shares, compared to its average volume of 478,031. CarGurus has a 1 year low of $18.59 and a 1 year high of $37.89. The business has a 50 day moving average price of $30.25 and a two-hundred day moving average price of $26.89.

CarGurus (NASDAQ:CARG) last released its quarterly earnings results on Thursday, August 8th. The company reported $0.30 earnings per share 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 negative net margin of 5.57% and a positive return on equity of 11.06%. On average, equities research analysts expect that CarGurus will post 1.16 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Samuel Zales sold 25,168 shares of the company’s stock in a transaction dated Friday, August 16th. The shares were sold at an average price of $28.34, for a total value of $713,261.12. Following the transaction, the chief operating officer now owns 480,583 shares in the company, valued at $13,619,722.22. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other CarGurus news, COO Samuel Zales sold 25,168 shares of the business’s stock in a transaction dated Friday, August 16th. The stock was sold at an average price of $28.34, for a total value of $713,261.12. Following the completion of the transaction, the chief operating officer now owns 480,583 shares of the company’s stock, valued at approximately $13,619,722.22. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CTO Matthew Todd Quinn sold 3,495 shares of the business’s stock in a transaction dated 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 transaction, the chief technology officer now directly 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 61,065 shares of company stock worth $1,823,794 in the last quarter. Corporate insiders own 17.20% of the company’s stock.

Hedge Funds Weigh In On CarGurus

Hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC increased its position in shares of CarGurus by 19.0% during the 3rd quarter. GAMMA Investing LLC now owns 2,459 shares of the company’s stock valued at $74,000 after purchasing an additional 393 shares during the last quarter. Lazard Asset Management LLC increased its position in shares of CarGurus by 2.2% during the 1st quarter. Lazard Asset Management LLC now owns 19,510 shares of the company’s stock valued at $450,000 after purchasing an additional 420 shares during the last quarter. Signaturefd LLC increased its position in shares of CarGurus by 81.3% during the 3rd quarter. Signaturefd LLC now owns 959 shares of the company’s stock valued at $29,000 after purchasing an additional 430 shares during the last quarter. Raymond James Trust N.A. increased its position in shares of CarGurus by 1.9% during the 2nd quarter. Raymond James Trust N.A. now owns 24,566 shares of the company’s stock valued at $644,000 after purchasing an additional 450 shares during the last quarter. Finally, Nisa Investment Advisors LLC increased its position in shares of CarGurus by 43.5% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,579 shares of the company’s stock valued at $41,000 after purchasing an additional 479 shares during the last quarter. Hedge funds and other institutional investors own 86.90% of the company’s stock.

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.