CarGurus (NASDAQ:CARG) Price Target Raised to $38.00

CarGurus (NASDAQ:CARG) had its price objective increased by JPMorgan Chase & Co. from $36.00 to $38.00 in a research note released on Friday morning,Benzinga reports. They currently have a neutral rating on the stock.

CARG has been the subject of a number of other research reports. DA Davidson decreased their price objective on shares of CarGurus from $37.50 to $33.50 and set a “neutral” rating for the company in a report on Friday, February 20th. Needham & Company LLC lifted their price objective on shares of CarGurus from $37.00 to $43.00 and gave the stock a “buy” rating in a report on Friday. BTIG Research decreased their price objective on shares of CarGurus from $44.00 to $37.00 and set a “buy” rating for the company in a report on Friday, February 20th. Oppenheimer decreased their price objective on shares of CarGurus from $40.00 to $38.00 and set an “outperform” rating for the company in a report on Tuesday, February 24th. Finally, Royal Bank Of Canada decreased their price objective on shares of CarGurus from $40.00 to $34.00 and set an “outperform” rating for the company in a report on Friday, February 20th. Five analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $38.14.

CarGurus Trading Down 0.0%

Shares of NASDAQ:CARG opened at $34.74 on Friday. The company has a fifty day simple moving average of $34.59 and a 200 day simple moving average of $34.63. The firm has a market cap of $3.31 billion, a PE ratio of 22.86, a price-to-earnings-growth ratio of 1.30 and a beta of 1.28. CarGurus has a 12-month low of $26.39 and a 12-month high of $39.42.

CarGurus (NASDAQ:CARG) last issued its quarterly earnings results on Thursday, May 7th. The company reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.56 by $0.02. The business had revenue of $243.56 million during the quarter, compared to analyst estimates of $243.12 million. CarGurus had a net margin of 15.57% and a return on equity of 54.42%. The business’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.46 earnings per share. CarGurus has set its Q2 2026 guidance at 0.570-0.640 EPS. As a group, equities research analysts forecast that CarGurus will post 2.06 EPS for the current fiscal year.

Insider Activity

In other news, Director Stephen Kaufer purchased 30,766 shares of CarGurus stock in a transaction dated Tuesday, March 3rd. The stock was bought at an average price of $32.50 per share, with a total value of $999,895.00. Following the completion of the acquisition, the director owned 323,939 shares in the company, valued at $10,528,017.50. The trade was a 10.49% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jennifer Ladd Hanson sold 2,499 shares of the business’s stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of $35.61, for a total transaction of $88,989.39. Following the transaction, the insider directly owned 98,191 shares of the company’s stock, valued at approximately $3,496,581.51. This trade represents a 2.48% 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. In the last three months, insiders sold 12,852 shares of company stock worth $431,053. 17.20% of the stock is owned by insiders.

Hedge Funds Weigh In On CarGurus

Several hedge funds and other institutional investors have recently modified their holdings of CARG. JPMorgan Chase & Co. raised its stake in shares of CarGurus by 17.8% during the third quarter. JPMorgan Chase & Co. now owns 545,636 shares of the company’s stock valued at $20,314,000 after purchasing an additional 82,511 shares in the last quarter. Jupiter Asset Management Ltd. raised its stake in shares of CarGurus by 230.6% during the third quarter. Jupiter Asset Management Ltd. now owns 580,117 shares of the company’s stock valued at $21,598,000 after purchasing an additional 404,617 shares in the last quarter. Aurora Investment Counsel bought a new stake in shares of CarGurus during the third quarter valued at about $2,174,000. Envestnet Asset Management Inc. raised its stake in shares of CarGurus by 100.3% during the third quarter. Envestnet Asset Management Inc. now owns 102,818 shares of the company’s stock valued at $3,828,000 after purchasing an additional 51,487 shares in the last quarter. Finally, Congress Asset Management Co. raised its stake in shares of CarGurus by 2.9% during the fourth quarter. Congress Asset Management Co. now owns 1,958,144 shares of the company’s stock valued at $75,095,000 after purchasing an additional 54,937 shares in the last quarter. Institutional investors and hedge funds own 86.90% of the company’s stock.

CarGurus News Roundup

Here are the key news stories impacting CarGurus this week:

• Positive Sentiment: CarGurus reported Q1 2026 EPS of $0.58, topping estimates, while revenue of $243.6 million was also slightly above expectations and up 8.2% year over year. Q1 Earnings Report and Conference Call
• Positive Sentiment: The company said Q1 adjusted EBITDA came in above the high end of guidance, and it repurchased $175 million of stock during the quarter, signaling strong cash generation and capital return. CarGurus Announces First Quarter 2026 Results
• Positive Sentiment: Needham raised its price target on CarGurus from $37 to $43 and kept a Buy rating, while JPMorgan also lifted its target from $36 to $38, reinforcing optimism around the stock. Analyst price target updates
• Neutral Sentiment: CarGurus’ Q2 guidance calls for EPS of $0.57 to $0.64 and revenue of $247 million to $252 million, which is broadly in line with Street expectations and suggests steady near-term growth. Q1 Results and Guidance
• Negative Sentiment: Despite the earnings beat, some market commentary noted the stock sold off after the report, suggesting investors may be focusing on guidance and valuation rather than just the headline beat. Market reaction article

About CarGurus

CarGurus, Inc operates an online automotive marketplace designed to connect buyers and sellers of new and used vehicles. Through its proprietary search engine and data-driven pricing tools, the platform enables consumers to compare listings, assess fair market values and locate local dealers offering competitive deals. CarGurus also provides detailed vehicle history reports, dealer reviews and financing options to streamline the car-shopping process for both private parties and franchised dealerships.

The company’s core product offerings include Instant Market Value (IMV), which leverages pricing algorithms to help buyers identify over- or under-priced vehicles, as well as dealer subscription services that grant automotive retailers access to lead generation tools, targeted advertising and dynamic pricing insights.