Investment analysts at Cowen began coverage on shares of CarGurus (NASDAQ:CARG) in a research report issued on Monday, The Fly reports. The firm set a “market perform” rating and a $42.00 price target on the stock. Cowen’s price target points to a potential upside of 14.22% from the company’s previous close.

CARG has been the topic of a number of other research reports. TheStreet lowered CarGurus from a “c-” rating to a “d+” rating in a report on Tuesday, May 14th. Zacks Investment Research downgraded CarGurus from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 15th. BidaskClub downgraded CarGurus from a “hold” rating to a “sell” rating in a research report on Tuesday, March 26th. Finally, BTIG Research reduced their price objective on CarGurus to $48.00 and set a “buy” rating on the stock in a research report on Wednesday, April 17th. Three investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $49.08.

NASDAQ:CARG opened at $36.77 on Monday. The company has a market capitalization of $4.07 billion, a PE ratio of 64.51, a P/E/G ratio of 7.20 and a beta of 1.86. The company has a current ratio of 2.74, a quick ratio of 2.74 and a debt-to-equity ratio of 0.25. CarGurus has a 12-month low of $30.29 and a 12-month high of $57.25.

CarGurus (NASDAQ:CARG) last released its earnings results on Thursday, May 9th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.09. The business had revenue of $135.30 million for the quarter, compared to analyst estimates of $129.54 million. CarGurus had a return on equity of 18.43% and a net margin of 13.94%. The company’s revenue for the quarter was up 37.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.06 earnings per share. Equities analysts predict that CarGurus will post 0.23 earnings per share for the current year.

In related news, Director Anastasios Parafestas sold 140,848 shares of the stock in a transaction dated Wednesday, February 27th. The stock was sold at an average price of $42.29, for a total transaction of $5,956,461.92. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Langley Steinert sold 117,406 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $39.73, for a total value of $4,664,540.38. The disclosure for this sale can be found here. Insiders have sold 3,355,011 shares of company stock worth $133,100,720 over the last quarter. 34.51% of the stock is currently owned by company insiders.

Large investors have recently made changes to their positions in the business. Bank of New York Mellon Corp increased its stake in CarGurus by 8.7% during the third quarter. Bank of New York Mellon Corp now owns 152,439 shares of the company’s stock worth $8,489,000 after acquiring an additional 12,174 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of CarGurus by 13.6% in the fourth quarter. Geode Capital Management LLC now owns 824,067 shares of the company’s stock valued at $27,795,000 after buying an additional 98,854 shares in the last quarter. 361 Capital LLC acquired a new stake in shares of CarGurus in the fourth quarter valued at about $2,336,000. Strs Ohio grew its stake in shares of CarGurus by 23.8% in the fourth quarter. Strs Ohio now owns 28,600 shares of the company’s stock valued at $964,000 after buying an additional 5,500 shares in the last quarter. Finally, Quantamental Technologies LLC acquired a new stake in shares of CarGurus in the fourth quarter valued at about $78,000. Institutional investors own 72.34% of the company’s stock.

About CarGurus

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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Analyst Recommendations for CarGurus (NASDAQ:CARG)

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