Oppenheimer started coverage on shares of CarGurus (NASDAQ:CARG) in a report issued on Tuesday, Marketbeat reports. The firm issued a buy rating and a $42.00 price target on the stock.

A number of other research firms have also issued reports on CARG. SunTrust Banks assumed coverage on shares of CarGurus in a research note on Monday, November 19th. They issued a buy rating and a $49.00 target price on the stock. BidaskClub lowered shares of CarGurus from a strong-buy rating to a buy rating in a research note on Wednesday, October 3rd. Citigroup assumed coverage on shares of CarGurus in a research note on Friday, December 7th. They issued a buy rating and a $45.00 target price on the stock. BTIG Research assumed coverage on shares of CarGurus in a research note on Tuesday, November 13th. They issued a buy rating and a $48.00 target price on the stock. Finally, Zacks Investment Research upgraded shares of CarGurus from a hold rating to a buy rating and set a $47.00 target price on the stock in a research note on Wednesday, November 14th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $49.00.

Shares of CARG traded down $0.06 during mid-day trading on Tuesday, hitting $36.02. 676,708 shares of the company’s stock were exchanged, compared to its average volume of 565,775. CarGurus has a twelve month low of $28.52 and a twelve month high of $57.25. The firm has a market cap of $3.96 billion, a price-to-earnings ratio of 300.17, a price-to-earnings-growth ratio of 38.94 and a beta of 1.74.

CarGurus (NASDAQ:CARG) last announced its quarterly earnings results on Wednesday, November 7th. The company reported $0.08 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.05 by $0.03. CarGurus had a net margin of 11.78% and a return on equity of 9.82%. The company had revenue of $119.04 million for the quarter, compared to analyst estimates of $112.70 million. During the same quarter in the prior year, the business posted $0.02 EPS. CarGurus’s quarterly revenue was up 43.4% on a year-over-year basis. Research analysts anticipate that CarGurus will post 0.13 EPS for the current year.

In related news, Director Steven Conine purchased 5,000 shares of the firm’s stock in a transaction on Monday, November 26th. The shares were bought at an average cost of $38.27 per share, for a total transaction of $191,350.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Oliver Ian Chrzan sold 30,000 shares of the firm’s stock in a transaction on Monday, October 15th. The stock was sold at an average price of $41.87, for a total transaction of $1,256,100.00. The disclosure for this sale can be found here. Insiders sold a total of 2,090,170 shares of company stock worth $81,199,238 over the last 90 days. Company insiders own 51.03% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Schwab Charles Investment Management Inc. lifted its holdings in shares of CarGurus by 347.8% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 124,871 shares of the company’s stock worth $4,339,000 after acquiring an additional 96,985 shares during the period. Allen Investment Management LLC bought a new position in shares of CarGurus during the 3rd quarter worth about $371,000. BlackRock Inc. lifted its holdings in shares of CarGurus by 19.6% during the 3rd quarter. BlackRock Inc. now owns 3,138,323 shares of the company’s stock worth $174,772,000 after acquiring an additional 513,304 shares during the period. Prudential Financial Inc. bought a new position in shares of CarGurus during the 3rd quarter worth about $1,256,000. Finally, Calamos Advisors LLC bought a new position in shares of CarGurus during the 3rd quarter worth about $292,000. Institutional investors own 68.67% of the company’s stock.

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.

Featured Article: How do candlesticks reflect price movement?

Analyst Recommendations for CarGurus (NASDAQ:CARG)

Receive News & Ratings for CarGurus Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CarGurus and related companies with MarketBeat.com's FREE daily email newsletter.