CarGurus (NASDAQ:CARG) Given New $25.50 Price Target at DA Davidson

CarGurus (NASDAQ:CARG) had its price target upped by DA Davidson from $22.00 to $25.50 in a research report report published on Monday, Benzinga reports. DA Davidson currently has a neutral rating on the stock.

A number of other research firms also recently issued reports on CARG. Needham & Company LLC increased their price target on shares of CarGurus from $24.00 to $25.00 and gave the stock a buy rating in a research note on Friday. JMP Securities restated a market perform rating on shares of CarGurus in a research note on Wednesday, April 17th. JPMorgan Chase & Co. increased their price objective on CarGurus from $27.00 to $29.00 and gave the stock an overweight rating in a report on Friday. Oppenheimer boosted their target price on shares of CarGurus from $26.00 to $30.00 and gave the company an outperform rating in a report on Tuesday, February 27th. Finally, UBS Group lifted their price target on shares of CarGurus from $26.00 to $27.00 and gave the company a neutral rating in a research report on Friday, March 15th. Four equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, CarGurus currently has a consensus rating of Moderate Buy and an average price target of $25.77.

CarGurus Stock Performance

NASDAQ CARG opened at $24.05 on Monday. The stock has a market cap of $2.58 billion, a P/E ratio of 85.89, a price-to-earnings-growth ratio of 1.47 and a beta of 1.57. CarGurus has a fifty-two week low of $16.70 and a fifty-two week high of $24.76. The stock has a 50 day simple moving average of $22.83 and a two-hundred day simple moving average of $22.44.

CarGurus (NASDAQ:CARG) last announced its quarterly earnings results on Monday, February 26th. The company reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. CarGurus had a return on equity of 8.80% and a net margin of 4.04%. The company had revenue of $223.12 million during the quarter, compared to analyst estimates of $220.05 million. During the same quarter last year, the firm posted $0.25 earnings per share. The firm’s revenue was down 22.2% on a year-over-year basis. Sell-side analysts predict that CarGurus will post 0.94 earnings per share for the current year.

Insiders Place Their Bets

In other news, COO Samuel Zales sold 17,668 shares of the stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $21.42, for a total transaction of $378,448.56. Following the sale, the chief operating officer now owns 548,845 shares in the company, valued at $11,756,259.90. The transaction was disclosed in a filing with the SEC, which is available at this link. In other CarGurus news, General Counsel Javier Esquivel Zamora sold 23,557 shares of CarGurus stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $22.13, for a total value of $521,316.41. Following the completion of the sale, the general counsel now owns 111,589 shares of the company’s stock, valued at approximately $2,469,464.57. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, COO Samuel Zales sold 17,668 shares of the company’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $21.42, for a total value of $378,448.56. Following the transaction, the chief operating officer now directly owns 548,845 shares in the company, valued at $11,756,259.90. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 113,793 shares of company stock valued at $2,523,342. Insiders own 15.70% of the company’s stock.

Institutional Investors Weigh In On CarGurus

Several large investors have recently bought and sold shares of CARG. Acadian Asset Management LLC purchased a new stake in shares of CarGurus during the 3rd quarter valued at about $32,000. GAMMA Investing LLC purchased a new stake in CarGurus in the fourth quarter worth approximately $32,000. Headlands Technologies LLC bought a new stake in CarGurus in the 1st quarter worth approximately $49,000. PNC Financial Services Group Inc. raised its stake in CarGurus by 298.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 2,951 shares of the company’s stock valued at $52,000 after buying an additional 2,210 shares during the last quarter. Finally, Daiwa Securities Group Inc. bought a new position in shares of CarGurus during the 4th quarter valued at $65,000. 86.90% of the stock is currently owned by institutional investors.

About CarGurus

CarGurus, Inc operates an online automotive platform for buying and selling vehicles in the United States and internationally. It operates through two segments, U.S. Marketplace and Digital Wholesale. The company provides an online automotive marketplace where customers can search for new and used car listings from its dealers and sell their car to dealers and other consumers; and paid listings subscriptions for enhanced access to its marketplace that connects dealers to a large audience of informed and engaged consumers.