Wall Street analysts expect CarGurus Inc (NASDAQ:CARG) to post sales of $122.13 million for the current fiscal quarter, according to Zacks. Five analysts have issued estimates for CarGurus’ earnings, with the lowest sales estimate coming in at $121.20 million and the highest estimate coming in at $125.40 million. CarGurus posted sales of $90.60 million during the same quarter last year, which suggests a positive year over year growth rate of 34.8%. The business is scheduled to issue its next earnings report after the market closes on Thursday, February 28th.

On average, analysts expect that CarGurus will report full-year sales of $450.19 million for the current financial year, with estimates ranging from $449.30 million to $453.40 million. For the next fiscal year, analysts anticipate that the firm will post sales of $563.19 million, with estimates ranging from $548.01 million to $583.70 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow CarGurus.

A number of analysts have recently issued reports on the company. Royal Bank of Canada lifted their price target on CarGurus from $55.00 to $59.00 and gave the company an “outperform” rating in a research report on Thursday, November 8th. BidaskClub upgraded CarGurus from a “hold” rating to a “buy” rating in a research report on Thursday, January 31st. BTIG Research assumed coverage on CarGurus in a research report on Tuesday, November 13th. They set a “buy” rating and a $48.00 price target for the company. SunTrust Banks assumed coverage on CarGurus in a research report on Monday, November 19th. They set a “buy” rating and a $49.00 price target for the company. Finally, Zacks Investment Research upgraded CarGurus from a “hold” rating to a “buy” rating and set a $47.00 price target for the company in a research report on Wednesday, November 14th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $49.00.

Shares of CARG stock traded down $0.17 on Wednesday, hitting $40.00. 436,800 shares of the stock were exchanged, compared to its average volume of 560,028. CarGurus has a one year low of $29.18 and a one year high of $57.25. The company has a market capitalization of $4.40 billion, a price-to-earnings ratio of 333.33, a PEG ratio of 42.85 and a beta of 2.04.

In other CarGurus news, CEO Langley Steinert sold 117,406 shares of CarGurus stock in a transaction that occurred on Monday, February 4th. The stock was sold at an average price of $42.52, for a total value of $4,992,103.12. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Stephen Kaufer sold 90,000 shares of CarGurus stock in a transaction that occurred on Friday, November 23rd. The stock was sold at an average price of $38.47, for a total value of $3,462,300.00. The disclosure for this sale can be found here. Insiders sold a total of 1,914,750 shares of company stock worth $72,060,388 over the last ninety days. Insiders own 51.03% of the company’s stock.

Several hedge funds have recently modified their holdings of the company. NumerixS Investment Technologies Inc bought a new stake in shares of CarGurus in the 4th quarter worth approximately $30,000. NEXT Financial Group Inc grew its position in shares of CarGurus by 50.1% in the 4th quarter. NEXT Financial Group Inc now owns 5,555 shares of the company’s stock worth $187,000 after buying an additional 1,855 shares during the last quarter. Two Sigma Advisers LP grew its position in shares of CarGurus by 0.3% in the 4th quarter. Two Sigma Advisers LP now owns 777,920 shares of the company’s stock worth $26,239,000 after buying an additional 2,000 shares during the last quarter. Quantamental Technologies LLC bought a new stake in shares of CarGurus in the 4th quarter worth approximately $78,000. Finally, Legal & General Group Plc grew its position in shares of CarGurus by 17.4% in the 4th quarter. Legal & General Group Plc now owns 20,035 shares of the company’s stock worth $676,000 after buying an additional 2,968 shares during the last quarter. Hedge funds and other institutional investors own 67.68% of the company’s stock.

CarGurus Company Profile

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.

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Earnings History and Estimates for CarGurus (NASDAQ:CARG)

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