CarGurus, Inc. (NASDAQ:CARG) Stock Has Consensus Target Price of $40.75

Shares of CarGurus, Inc. (NASDAQ:CARG) have been assigned an average recommendation of “Moderate Buy” from the fifteen analysts that are covering the stock, MarketBeat reports. Seven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating on the company. The average 12-month price objective among brokers that have covered the stock in the last year is $40.75.

A number of equities research analysts have weighed in on CARG shares. Oppenheimer raised their price target on CarGurus from $38.00 to $44.00 and gave the company an “outperform” rating in a research report on Wednesday, August 12th. Weiss Ratings upgraded CarGurus from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, August 21st. Barclays increased their price objective on CarGurus from $40.00 to $41.00 and gave the company an “overweight” rating in a research report on Monday, August 10th. UBS Group raised their price objective on CarGurus from $37.00 to $40.00 and gave the company a “neutral” rating in a report on Friday, August 7th. Finally, Wall Street Zen upgraded CarGurus from a “hold” rating to a “buy” rating in a research report on Saturday, August 22nd.

Insider Activity

In other news, Director Greg M. Schwartz sold 10,000 shares of the company’s stock in a transaction on Wednesday, August 12th. The shares were sold at an average price of $36.07, for a total value of $360,700.00. Following the completion of the sale, the director owned 8,716 shares of the company’s stock, valued at approximately $314,386.12. This represents a 53.43% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Dafna Sarnoff sold 17,151 shares of the stock in a transaction on Thursday, August 13th. The shares were sold at an average price of $37.00, for a total transaction of $634,587.00. Following the transaction, the chief marketing officer directly owned 109,668 shares in the company, valued at approximately $4,057,716. This represents a 13.52% 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. In the last three months, insiders sold 68,411 shares of company stock valued at $2,469,687. Insiders own 18.19% of the company’s stock.

Institutional Trading of CarGurus

Several hedge funds have recently added to or reduced their stakes in CARG. Tidal Investments LLC boosted its position in CarGurus by 16.0% during the second quarter. Tidal Investments LLC now owns 61,437 shares of the company’s stock valued at $2,094,000 after buying an additional 8,468 shares during the period. RFG Advisory LLC purchased a new position in shares of CarGurus in the second quarter worth about $1,421,000. Squarepoint Ops LLC purchased a new position in shares of CarGurus in the second quarter worth about $288,000. Nykredit A S bought a new stake in shares of CarGurus in the 2nd quarter valued at about $183,000. Finally, Corient Private Wealth LP boosted its holdings in CarGurus by 657.4% during the 2nd quarter. Corient Private Wealth LP now owns 183,666 shares of the company’s stock valued at $6,261,000 after acquiring an additional 159,416 shares during the period. 86.90% of the stock is owned by institutional investors.

CarGurus Price Performance

CARG stock opened at $30.99 on Tuesday. The firm has a 50 day simple moving average of $35.22 and a two-hundred day simple moving average of $33.65. The stock has a market cap of $2.76 billion, a PE ratio of 16.84, a P/E/G ratio of 1.13 and a beta of 1.16. CarGurus has a one year low of $26.39 and a one year high of $41.22.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.05. CarGurus had a net margin of 18.06% and a return on equity of 62.88%. The firm had revenue of $250.97 million for the quarter, compared to analysts’ expectations of $249.85 million. During the same quarter last year, the company posted $0.57 EPS. The business’s quarterly revenue was up 7.2% on a year-over-year basis. CarGurus has set its Q3 2026 guidance at 0.630-0.690 EPS. On average, research analysts expect that CarGurus will post 2.17 EPS for the current fiscal year.

About CarGurus

CarGurus, Inc operates an online automotive marketplace that connects consumers with automobile dealers and private sellers. Its platform enables shoppers to search for new and used vehicles, compare listings, evaluate pricing and vehicle details, and contact sellers. CarGurus generates revenue primarily by providing dealers with digital advertising and marketing products designed to help them display inventory and reach prospective buyers.

The company also provides tools and services intended to support automotive retailers throughout the vehicle-shopping process, including inventory merchandising, lead generation, pricing insights and digital retail capabilities.