CarGurus, Inc. (CARG) Updates Q4 Earnings Guidance
CarGurus, Inc. (NASDAQ:CARG) updated its fourth quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $0.01-0.02 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.01. The company issued revenue guidance of $85-86 million, compared to the consensus revenue estimate of $82.48 million.
Several brokerages have recently weighed in on CARG. JMP Securities began coverage on CarGurus in a research note on Monday, November 6th. They issued a market perform rating for the company. Royal Bank Of Canada assumed coverage on CarGurus in a research note on Monday, November 6th. They issued a sector perform rating and a $33.00 price target for the company. William Blair assumed coverage on CarGurus in a research note on Monday, November 6th. They set an outperform rating for the company. Raymond James Financial, Inc. assumed coverage on CarGurus in a research note on Monday, November 6th. They set a market perform rating for the company. Finally, Goldman Sachs Group, Inc. (The) assumed coverage on CarGurus in a research note on Monday, November 6th. They set a neutral rating and a $25.00 target price for the company. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $29.00.
CarGurus, Inc. (NASDAQ:CARG) traded up $0.58 during midday trading on Tuesday, reaching $29.55. The company had a trading volume of 830,200 shares, compared to its average volume of 658,305. CarGurus, Inc. has a fifty-two week low of $25.85 and a fifty-two week high of $35.00.
In related news, Director David Lambert Parker sold 269,871 shares of the firm’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $14.88, for a total transaction of $4,015,680.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Langley Steinert sold 3,390,524 shares of the firm’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $14.88, for a total value of $50,450,997.12. The disclosure for this sale can be found here. Insiders have sold 5,454,188 shares of company stock valued at $81,158,317 in the last ninety days.
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CarGurus Company Profile
CarGurus, Inc is an online automotive marketplace connecting buyers and sellers of new and used cars. Using proprietary technology, search algorithms, and data analytics. The Company’s marketplace empowers users with unbiased third-party validation on pricing and dealer reputation as well as other information that aids them in finding Great Deals from Great Dealers.
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