CarGurus (NASDAQ:CARG) Updates Q3 2026 Earnings Guidance

CarGurus (NASDAQ:CARG) issued an update on its third quarter 2026 earnings guidance on Thursday. The company provided earnings per share guidance of 0.630-0.690 for the period, compared to the consensus EPS estimate of 0.610. The company issued revenue guidance of $253.5 million-$258.5 million, compared to the consensus revenue estimate of $256.9 million. CarGurus also updated its FY 2026 guidance to EPS.

CarGurus Trading Down 0.1%

CARG traded down $0.03 on Thursday, hitting $36.38. The company had a trading volume of 1,226,880 shares, compared to its average volume of 1,285,814. The company’s fifty day moving average price is $32.54 and its 200 day moving average price is $32.59. CarGurus has a 1 year low of $26.39 and a 1 year high of $39.42. The firm has a market cap of $3.28 billion, a P/E ratio of 23.93, a PEG ratio of 1.35 and a beta of 1.17.

CarGurus (NASDAQ:CARG) last announced its earnings results on Thursday, August 6th. The company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.05. CarGurus had a net margin of 15.57% and a return on equity of 54.42%. The company had revenue of $250.97 million during the quarter, compared to analyst estimates of $249.85 million. CarGurus has set its Q3 2026 guidance at 0.630-0.690 EPS. On average, analysts predict that CarGurus will post 2.11 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on CARG shares. Freedom Capital raised CarGurus to a “strong-buy” rating in a research report on Friday, June 12th. UBS Group set a $35.00 price objective on CarGurus in a report on Thursday, May 28th. JPMorgan Chase & Co. raised their target price on CarGurus from $36.00 to $38.00 and gave the company a “neutral” rating in a report on Friday, May 8th. Piper Sandler reiterated a “sector weight” rating on shares of CarGurus in a research note on Friday, June 12th. Finally, Citigroup assumed coverage on shares of CarGurus in a research note on Friday, June 12th. They issued a “buy” rating for the company. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $38.55.

Insider Buying and Selling

In other CarGurus news, General Counsel Javier Zamora sold 6,205 shares of the firm’s stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $37.08, for a total transaction of $230,081.40. Following the completion of the transaction, the general counsel directly owned 80,260 shares in the company, valued at approximately $2,976,040.80. This trade represents a 7.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jennifer Ladd Hanson sold 2,499 shares of the stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $34.56, for a total value of $86,365.44. Following the sale, the insider directly owned 92,894 shares in the company, valued at approximately $3,210,416.64. The trade was a 2.62% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 31,764 shares of company stock valued at $1,071,649. Corporate insiders own 18.19% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of CARG. Wellington Management Group LLP boosted its position in shares of CarGurus by 6.6% in the third quarter. Wellington Management Group LLP now owns 9,636,671 shares of the company’s stock worth $358,773,000 after buying an additional 594,670 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of CarGurus by 0.3% during the second quarter. The Manufacturers Life Insurance Company now owns 1,914,925 shares of the company’s stock valued at $64,093,000 after purchasing an additional 6,676 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in shares of CarGurus by 11.1% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,888,766 shares of the company’s stock valued at $70,319,000 after acquiring an additional 188,856 shares in the last quarter. Invesco Ltd. grew its position in CarGurus by 6.9% in the second quarter. Invesco Ltd. now owns 1,717,321 shares of the company’s stock valued at $57,479,000 after acquiring an additional 110,452 shares during the period. Finally, UBS Group AG increased its holdings in shares of CarGurus by 158.2% during the third quarter. UBS Group AG now owns 1,537,856 shares of the company’s stock worth $57,254,000 after buying an additional 942,199 shares in the last quarter. 86.90% of the stock is owned by institutional investors and hedge funds.

About CarGurus

CarGurus, Inc operates an online automotive marketplace designed to connect buyers and sellers of new and used vehicles. Through its proprietary search engine and data-driven pricing tools, the platform enables consumers to compare listings, assess fair market values and locate local dealers offering competitive deals. CarGurus also provides detailed vehicle history reports, dealer reviews and financing options to streamline the car-shopping process for both private parties and franchised dealerships.

The company’s core product offerings include Instant Market Value (IMV), which leverages pricing algorithms to help buyers identify over- or under-priced vehicles, as well as dealer subscription services that grant automotive retailers access to lead generation tools, targeted advertising and dynamic pricing insights.