CarGurus (NASDAQ:CARG) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Saturday.

CARG has been the subject of a number of other reports. Royal Bank of Canada raised shares of CarGurus from a “sector perform” rating to an “outperform” rating and set a $33.00 price target for the company in a research report on Wednesday, August 8th. Zacks Investment Research cut shares of CarGurus from a “buy” rating to a “hold” rating in a research report on Monday, August 13th. JMP Securities raised shares of CarGurus from a “market perform” rating to an “outperform” rating and set a $55.00 price target for the company in a research report on Wednesday, August 8th. DA Davidson set a $53.00 price target on shares of CarGurus and gave the stock a “buy” rating in a research report on Wednesday, August 8th. Finally, ValuEngine raised shares of CarGurus from a “hold” rating to a “buy” rating in a research report on Tuesday, August 28th. Four equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $44.17.

Shares of CarGurus stock opened at $42.86 on Friday. CarGurus has a twelve month low of $25.85 and a twelve month high of $57.25. The firm has a market cap of $6.10 billion and a P/E ratio of 357.17.

CarGurus (NASDAQ:CARG) last announced its quarterly earnings results on Tuesday, August 7th. The company reported $0.06 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.04. CarGurus had a net margin of 10.34% and a return on equity of 12.60%. The firm had revenue of $110.33 million during the quarter, compared to analysts’ expectations of $103.84 million. As a group, analysts anticipate that CarGurus will post 0.1 earnings per share for the current year.

In other CarGurus news, VP Oliver Ian Chrzan sold 6,000 shares of the company’s stock in a transaction dated Friday, July 20th. The shares were sold at an average price of $37.45, for a total value of $224,700.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Sarah Amory Welch sold 7,500 shares of the company’s stock in a transaction dated Monday, July 16th. The shares were sold at an average price of $37.07, for a total transaction of $278,025.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,590,535 shares of company stock valued at $280,006,838. 51.03% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the business. First Interstate Bank boosted its position in CarGurus by 100,560.0% in the 2nd quarter. First Interstate Bank now owns 5,033 shares of the company’s stock valued at $175,000 after buying an additional 5,028 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new position in CarGurus in the 2nd quarter valued at about $205,000. NEXT Financial Group Inc purchased a new position in CarGurus in the 3rd quarter valued at about $206,000. NumerixS Investment Technologies Inc purchased a new position in CarGurus in the 2nd quarter valued at about $227,000. Finally, Amalgamated Bank purchased a new position in CarGurus in the 2nd quarter valued at about $261,000. 63.33% of the stock is owned by institutional investors.

CarGurus Company Profile

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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Analyst Recommendations for CarGurus (NASDAQ:CARG)

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