According to Bloomberg Ratings, the stock has received an average recommendation of “Moderate Buy” from the fourteen rating agencies currently monitoring CarGurus, Inc. shares. These rating agencies are currently keeping an eye on the shares of CarGurus, Inc. (NASDAQ: CARG). These rating agencies are currently monitoring the stock of the company. Five financial analysts believe that an investor should buy the stock, while only three believe that an investor should hold on to the stock in their portfolio. Most brokerage firms that rated the stock in the previous year have set their price target at $22.79 for the next twelve months, which is the average price target for the stock.
Several specialists in this field have discussed the CARG stock and provided their insights. In a research note published on October 6, Jefferies Financial Group lowered its “buy” rating and target price for CarGurus from $32.00 to $20.00. Additionally, the target price remained the same. CarGurus’s price target was reduced to $11.50 by DA Davidson in a research note that was made public on November 15. The note was published on the website Research Notes. In a research note published on November 15, BTIG Research announced that they would be decreasing their target price for CarGurus to $19.00. This news came as a result of the company’s recent performance. CarGurus was the subject of a research study released by Raymond James on November 9. The study was given an “outperform” rating, and the price target was reduced from $20.00 to $16.00. The report included an announcement regarding the revised price target. In the end, but not least, Trust Financial stated in a research note distributed on November 9 that the company has decreased its price objective on CarGurus from $31.00 to $22.00.
Recently, the number of hedge funds and other institutional investors has either increased or decreased the amount of CARG they currently hold in their portfolios. Rosenberg CarGurus promoted Matthew Hamilton to a new position during the second quarter, which brought in approximately $41,000 in annual revenue for the company. Great West Life Assurance Company of Canada increased the amount of CarGurus stock owned by 23.3% during the third quarter. After making additional purchases totaling 932 shares throughout the quarter, Great West Life Assurance Company now holds 4,928 shares in its portfolio. The shares of stock in the company owned by Great West Life Assurance Co., Inc. have a value of $69 thousand. Point72 Hong Kong Ltd. increased the amount of CarGurus stock owned by 23.4% during the third quarter. Point72 Hong Kong Ltd. is now the owner of 8,013 shares of the company’s stock, which has a value of USD 114,000 thanks to the acquisition of an additional 1,522 shares during the most recent period. During the first three months of the year, Penserra Capital Management LLC made a fresh investment in CarGurus for approximately 117 thousand dollars. During the third quarter, Strs Ohio increased the percentage of ownership it held in CarGurus by 17.6%. This brings us to our last point. Strs Ohio now has a total of 8,700 shares, which are now worth $123,000 after purchasing an additional 1,300 shares during the most recent quarter. This brings Strs Ohio’s total number of shares to 8,700. To 89.37% of the company’s equity, hedge funds and other institutions hold ownership stakes in the business.
When trading started on Friday, a single share of CarGurus stock was valued at $16.13 per unit. The company has a market capitalization that is currently sitting at $1.92 billion, while its PE ratio is currently sitting at -13.91, its P/E/G ratio is currently sitting at 4.47, and its beta is currently sitting at 1.52, respectively. The company’s moving average over the previous 50 days is $13.98; over the previous 200 days, it is $16.74. A year ago, the stock price of CarGurus reached an all-time low of $9.14 and an all-time high of $50.03 on the same day.
On November 8, CarGurus (NASDAQ: CARG) disclosed the outcomes of its most recent financial report covering the preceding three months. The company announced earnings of $0.26 per share for the previous quarter, which was $0.23 more than the consensus estimate of $0.03 per share among industry experts. When CarGurus was examined, the company had a return on equity of 20.56 percent and a net margin of 3.76 percent. The most recent quarter’s actual sales for the company came in at $426.45 million, which is lower than the general average estimate of $463.18 million for that period. According to the forecasts provided by analysts working in this sector, CarGurus should be able to generate earnings of $0.44 per share for the current financial year.
CarGurus, Inc. is an online marketplace for vehicles that brings buyers and sellers of new and used automobiles in the United States and worldwide. The company provides its customers with access to an online vehicle marketplace, where they can look through listings of new and used cars for sale by the company’s dealers and sell their vehicles on the American market.
