CarGurus (NASDAQ:CARG) Posts Earnings Results, Misses Estimates By $0.06 EPS

CarGurus (NASDAQ:CARG) issued its earnings results on Thursday. The company reported $0.44 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.06), Zacks reports. CarGurus had a positive return on equity of 13.96% and a negative net margin of 5.47%.

CarGurus Stock Performance

CARG stock traded down $0.55 during midday trading on Thursday, reaching $37.59. The company’s stock had a trading volume of 1,468,952 shares, compared to its average volume of 758,986. The firm has a market capitalization of $3.90 billion, a price-to-earnings ratio of -81.72, a PEG ratio of 1.82 and a beta of 1.59. CarGurus has a 1 year low of $21.18 and a 1 year high of $41.33. The stock has a fifty day simple moving average of $37.94 and a two-hundred day simple moving average of $33.58.

Insider Transactions at CarGurus

In related news, COO Samuel Zales sold 20,000 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $38.36, for a total value of $767,200.00. Following the transaction, the chief operating officer now owns 400,025 shares of the company’s stock, valued at $15,344,959. This represents a 4.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Zachary Emerson Hallowell sold 2,203 shares of CarGurus stock in a transaction on Friday, January 17th. The shares were sold at an average price of $38.12, for a total value of $83,978.36. Following the sale, the chief executive officer now directly owns 115,983 shares of the company’s stock, valued at approximately $4,421,271.96. This trade represents a 1.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 59,388 shares of company stock worth $2,204,338. Insiders own 17.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on CARG shares. Royal Bank of Canada raised their target price on shares of CarGurus from $30.00 to $42.00 and gave the company an “outperform” rating in a report on Monday, November 11th. B. Riley boosted their target price on shares of CarGurus from $30.00 to $40.00 and gave the stock a “buy” rating in a report on Monday, November 11th. JPMorgan Chase & Co. upped their target price on shares of CarGurus from $36.00 to $40.00 and gave the company an “overweight” rating in a research report on Friday, November 8th. Oppenheimer lifted their price target on CarGurus from $32.00 to $44.00 and gave the stock an “outperform” rating in a research report on Friday, November 8th. Finally, DA Davidson upped their price objective on CarGurus from $26.50 to $38.50 and gave the company a “neutral” rating in a research report on Friday, November 8th. Two analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $38.41.

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.