CarGurus (NASDAQ:CARG – Get Free Report) updated its second quarter earnings guidance on Thursday. The company provided EPS guidance of $0.29-0.34 for the period, compared to the consensus EPS estimate of $0.30. The company issued revenue guidance of $202-222 million, compared to the consensus revenue estimate of $224.51 million. CarGurus also updated its Q2 2024 guidance to 0.290-0.340 EPS.
CarGurus Stock Up 0.6 %
CARG stock opened at $22.28 on Friday. CarGurus has a twelve month low of $16.70 and a twelve month high of $24.64. The company has a market cap of $2.39 billion, a PE ratio of 123.78, a price-to-earnings-growth ratio of 1.38 and a beta of 1.57. The business’s 50-day simple moving average is $22.77 and its 200 day simple moving average is $22.28.
CarGurus (NASDAQ:CARG – Get Free Report) last announced its quarterly earnings data on Monday, February 26th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.01. The company had revenue of $223.12 million for the quarter, compared to analyst estimates of $220.05 million. CarGurus had a return on equity of 7.74% and a net margin of 3.40%. CarGurus’s revenue for the quarter was down 22.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.25 EPS. On average, equities research analysts anticipate that CarGurus will post 0.94 EPS for the current year.
Wall Street Analyst Weigh In
Insider Transactions at CarGurus
In related news, COO Samuel Zales sold 17,668 shares of the firm’s stock in a transaction on Tuesday, April 16th. The stock was sold at an average price of $21.42, for a total transaction of $378,448.56. Following the completion of the sale, the chief operating officer now directly owns 548,845 shares of the company’s stock, valued at approximately $11,756,259.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Andrea Lee Eldridge sold 22,358 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $22.13, for a total transaction of $494,782.54. Following the completion of the sale, the insider now owns 117,432 shares in the company, valued at $2,598,770.16. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Samuel Zales sold 17,668 shares of the firm’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $21.42, for a total value of $378,448.56. Following the completion of the transaction, the chief operating officer now owns 548,845 shares in the company, valued at approximately $11,756,259.90. The disclosure for this sale can be found here. Insiders have sold 113,793 shares of company stock valued at $2,523,342 in the last three months. 15.70% of the stock is owned by corporate insiders.
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.
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