CarGurus (NASDAQ:CARG) was upgraded by Zacks Investment Research from a “hold” rating to a “strong-buy” rating in a report issued on Tuesday, Zacks.com reports. The firm currently has a $44.00 price objective on the stock. Zacks Investment Research‘s price objective suggests a potential upside of 20.35% from the company’s previous close.

According to Zacks, “CarGurus, Inc. is an online automotive marketplace connecting buyers and sellers of new and used cars. The company uses proprietary technology, search algorithms and data analytics. It operates primarily in Canada, the United Kingdom and Germany. CarGurus, Inc.is based in CAMBRIDGE, United States. “

Other equities analysts also recently issued research reports about the stock. BTIG Research cut their price objective on shares of CarGurus to $48.00 and set a “buy” rating for the company in a research report on Wednesday, April 17th. BidaskClub upgraded shares of CarGurus from a “sell” rating to a “hold” rating in a research report on Friday, April 5th. Benchmark restated a “buy” rating and set a $51.00 price objective on shares of CarGurus in a research report on Friday, May 10th. Citigroup upped their price objective on shares of CarGurus from $45.00 to $52.00 and gave the stock a “buy” rating in a research report on Friday, March 1st. Finally, SunTrust Banks restated a “buy” rating and set a $52.00 price objective on shares of CarGurus in a research report on Thursday, May 9th. One investment analyst has rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $49.73.

Shares of CarGurus stock opened at $36.56 on Tuesday. The firm has a market cap of $4.25 billion, a price-to-earnings ratio of 64.14, a PEG ratio of 34.24 and a beta of 1.86. The company has a quick ratio of 2.74, a current ratio of 2.74 and a debt-to-equity ratio of 0.25. CarGurus has a one year low of $30.29 and a one year high of $57.25.

CarGurus (NASDAQ:CARG) last announced its quarterly earnings data on Thursday, May 9th. The company reported $0.12 EPS for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.09. The company had revenue of $135.30 million during the quarter, compared to the consensus estimate of $129.54 million. CarGurus had a net margin of 13.94% and a return on equity of 18.43%. CarGurus’s quarterly revenue was up 37.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.06 EPS. On average, equities research analysts forecast that CarGurus will post 0.22 earnings per share for the current year.

In other news, CFO Jason Trevisan sold 7,000 shares of the stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $39.89, for a total value of $279,230.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Thomas Michael Caputo sold 5,353 shares of the stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $41.33, for a total transaction of $221,239.49. The disclosure for this sale can be found here. Insiders sold a total of 3,290,415 shares of company stock valued at $130,712,999 in the last quarter. Insiders own 34.51% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. NumerixS Investment Technologies Inc purchased a new position in shares of CarGurus in the 4th quarter valued at about $30,000. Advisor Group Inc. increased its holdings in shares of CarGurus by 281.2% in the 1st quarter. Advisor Group Inc. now owns 770 shares of the company’s stock valued at $31,000 after purchasing an additional 568 shares in the last quarter. Quantamental Technologies LLC purchased a new position in shares of CarGurus in the 4th quarter valued at about $78,000. DekaBank Deutsche Girozentrale acquired a new stake in CarGurus in the 1st quarter valued at about $136,000. Finally, NEXT Financial Group Inc grew its stake in CarGurus by 50.1% in the 4th quarter. NEXT Financial Group Inc now owns 5,555 shares of the company’s stock valued at $187,000 after acquiring an additional 1,855 shares during the last quarter. Institutional investors and hedge funds own 72.34% of the company’s stock.

CarGurus Company Profile

CarGurus, Inc operates an online automotive marketplace connecting buyers and sellers of new and used cars in the United States, Canada, the United Kingdom, Germany, Italy, and Spain. The company provides consumers an online automotive marketplace where they can search for new and used car listings from its dealers, as well as sell their car in the United States marketplace.

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