CarGurus (NASDAQ:CARG) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of CarGurus (NASDAQ:CARG) from a hold rating to a buy rating in a report issued on Saturday,Wall Street Zen reports.

Several other brokerages also recently weighed in on CARG. B. Riley Financial restated a “buy” rating on shares of CarGurus in a research report on Friday, August 7th. Citigroup raised their target price on shares of CarGurus from $32.00 to $39.00 and gave the company a “neutral” rating in a research report on Friday, August 14th. Oppenheimer boosted their price objective on CarGurus from $38.00 to $44.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 12th. Needham & Company LLC increased their target price on CarGurus from $43.00 to $44.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Finally, UBS Group dropped their target price on CarGurus from $40.00 to $35.00 and set a “neutral” rating for the company in a research report on Wednesday, October 7th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $39.95.

CarGurus Stock Up 5.0%

Shares of CarGurus stock opened at $33.79 on Friday. CarGurus has a 12-month low of $26.39 and a 12-month high of $41.22. The company has a market capitalization of $3.01 billion, a price-to-earnings ratio of 15.20, a PEG ratio of 1.11 and a beta of 1.22. The firm’s 50-day moving average price is $32.29 and its two-hundred day moving average price is $32.83.

CarGurus (NASDAQ:CARG) last issued its earnings results on Thursday, August 6th. The company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.61 by $0.05. The company had revenue of $250.97 million during the quarter, compared to analysts’ expectations of $249.85 million. CarGurus had a net margin of 18.06% and a return on equity of 62.88%. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.57 EPS. CarGurus has set its Q3 2026 guidance at 0.630-0.690 EPS. On average, sell-side analysts expect that CarGurus will post 2.17 earnings per share for the current year.

Insider Activity at CarGurus

In related news, Director Greg Schwartz sold 10,000 shares of the company’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $36.07, for a total value of $360,700.00. Following the sale, the director owned 8,716 shares in the company, valued at $314,386.12. This represents a 53.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Ismail Elshareef sold 2,673 shares of CarGurus stock in a transaction dated Friday, October 2nd. The shares were sold at an average price of $29.62, for a total value of $79,174.26. Following the transaction, the insider owned 127,933 shares of the company’s stock, valued at $3,789,375.46. This trade represents a 2.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 71,982 shares of company stock valued at $2,461,465 over the last quarter. 18.19% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Kestra Private Wealth Services LLC raised its position in CarGurus by 7.7% during the third quarter. Kestra Private Wealth Services LLC now owns 15,694 shares of the company’s stock valued at $489,000 after purchasing an additional 1,124 shares in the last quarter. Covestor Ltd grew its holdings in CarGurus by 16.5% in the 3rd quarter. Covestor Ltd now owns 4,542 shares of the company’s stock worth $142,000 after acquiring an additional 642 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. purchased a new position in CarGurus during the 3rd quarter valued at about $421,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in CarGurus in the 3rd quarter worth approximately $707,000. Finally, Vise Technologies Inc. lifted its stake in CarGurus by 19.7% in the third quarter. Vise Technologies Inc. now owns 7,846 shares of the company’s stock worth $244,000 after acquiring an additional 1,292 shares during the period. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

About CarGurus

CarGurus, Inc operates an online automotive marketplace that connects consumers with automobile dealers and private sellers. Its platform enables shoppers to search for new and used vehicles, compare listings, evaluate vehicle and dealer information, and contact sellers. CarGurus generates revenue primarily by providing dealers with digital listing, advertising and marketing products designed to help them reach potential buyers.

The company also offers tools intended to support automotive retailers’ online operations, including inventory merchandising, lead generation and digital retailing capabilities.