Analysts expect that CarGurus Inc (NASDAQ:CARG) will report earnings of $0.04 per share for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for CarGurus’ earnings, with the lowest EPS estimate coming in at $0.03 and the highest estimate coming in at $0.04. The company is expected to announce its next earnings report on Thursday, August 2nd.

According to Zacks, analysts expect that CarGurus will report full-year earnings of $0.20 per share for the current year. For the next fiscal year, analysts forecast that the firm will report earnings of $0.25 per share, with EPS estimates ranging from $0.23 to $0.27. Zacks’ EPS calculations are a mean average based on a survey of research analysts that that provide coverage for CarGurus.

CarGurus (NASDAQ:CARG) last issued its earnings results on Thursday, May 3rd. The company reported $0.06 EPS for the quarter, topping the consensus estimate of $0.02 by $0.04. The firm had revenue of $98.70 million during the quarter, compared to analysts’ expectations of $94.15 million. The firm’s revenue for the quarter was up 47.3% compared to the same quarter last year.

CARG has been the topic of several analyst reports. Benchmark initiated coverage on shares of CarGurus in a research note on Thursday, March 22nd. They issued a “buy” rating and a $42.00 target price on the stock. Zacks Investment Research raised shares of CarGurus from a “sell” rating to a “buy” rating and set a $35.00 target price on the stock in a research note on Tuesday, May 1st. DA Davidson raised shares of CarGurus from a “neutral” rating to a “buy” rating and set a $41.00 target price on the stock in a research note on Tuesday, May 1st. They noted that the move was a valuation call. BidaskClub raised shares of CarGurus from a “hold” rating to a “buy” rating in a research note on Thursday, June 21st. Finally, ValuEngine downgraded shares of CarGurus from a “hold” rating to a “sell” rating in a research note on Tuesday, May 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $35.80.

In related news, CEO Langley Steinert sold 117,406 shares of CarGurus stock in a transaction on Wednesday, May 16th. The shares were sold at an average price of $31.98, for a total value of $3,754,643.88. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Thomas Michael Caputo sold 6,850 shares of CarGurus stock in a transaction on Thursday, April 12th. The shares were sold at an average price of $33.89, for a total transaction of $232,146.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,421,775 shares of company stock worth $143,883,387. 51.03% of the stock is currently owned by company insiders.

A number of large investors have recently added to or reduced their stakes in CARG. The Manufacturers Life Insurance Company boosted its holdings in CarGurus by 13.9% in the first quarter. The Manufacturers Life Insurance Company now owns 3,808,722 shares of the company’s stock valued at $146,522,000 after acquiring an additional 466,106 shares in the last quarter. Lord Abbett & CO. LLC boosted its holdings in shares of CarGurus by 55.6% during the 1st quarter. Lord Abbett & CO. LLC now owns 970,288 shares of the company’s stock valued at $37,327,000 after buying an additional 346,567 shares in the last quarter. Clearbridge Investments LLC bought a new stake in shares of CarGurus during the 4th quarter valued at $6,752,000. Geode Capital Management LLC bought a new stake in shares of CarGurus during the 4th quarter valued at $5,533,000. Finally, ArrowMark Colorado Holdings LLC bought a new stake in shares of CarGurus during the 4th quarter valued at $4,054,000. Institutional investors and hedge funds own 50.56% of the company’s stock.

Shares of NASDAQ CARG traded up $0.35 during mid-day trading on Friday, hitting $35.83. The stock had a trading volume of 338,553 shares, compared to its average volume of 545,984. CarGurus has a 1 year low of $25.85 and a 1 year high of $40.60. The company has a market cap of $3.94 billion and a price-to-earnings ratio of 298.75.

About CarGurus

CarGurus, Inc operates an online automotive marketplace connecting buyers and sellers of new and used cars worldwide. The company's marketplace enables users with third-party validation on pricing, dealer reputation, and other information. As of June 30, 2017, it had an active dealer network of approximately 40,000 dealers; and approximately 5.4 million car listings.

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Earnings History and Estimates for CarGurus (NASDAQ:CARG)

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