CarGurus, Inc. (CARG) Receives Consensus Rating of “Hold” from Brokerages

CarGurus, Inc. (NASDAQ:CARG) has been given an average broker rating score of 2.50 (Hold) from the four analysts that cover the company, Zacks Investment Research reports. Three research analysts have rated the stock with a hold rating and one has assigned a strong buy rating to the company.

Brokers have set a 12 month consensus price objective of $33.00 for the company, according to Zacks. Zacks has also given CarGurus an industry rank of 238 out of 265 based on the ratings given to its competitors.

Several analysts recently weighed in on the stock. JMP Securities initiated coverage on shares of CarGurus in a report on Monday, November 6th. They issued a “market perform” rating on the stock. Royal Bank Of Canada initiated coverage on shares of CarGurus in a research note on Monday, November 6th. They issued a “sector perform” rating and a $33.00 price target on the stock. William Blair initiated coverage on shares of CarGurus in a research note on Monday, November 6th. They issued an “outperform” rating on the stock. Raymond James Financial, Inc. initiated coverage on shares of CarGurus in a research note on Monday, November 6th. They issued a “market perform” rating on the stock. Finally, Goldman Sachs Group, Inc. (The) initiated coverage on shares of CarGurus in a research note on Monday, November 6th. They issued a “neutral” rating and a $25.00 price target on the stock.

In other CarGurus news, Director David Lambert Parker sold 269,871 shares of the stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $14.88, for a total value of $4,015,680.48. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, major shareholder Argonaut 22 Llc sold 1,523,000 shares of the stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $14.88, for a total transaction of $22,662,240.00. The disclosure for this sale can be found here. Insiders sold 5,454,188 shares of company stock worth $81,158,317 over the last quarter.

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Shares of CarGurus (CARG) traded up $0.58 during trading hours on Friday, reaching $29.55. 830,200 shares of the company traded hands, compared to its average volume of 658,305. CarGurus has a 52-week low of $25.85 and a 52-week high of $35.00.

About CarGurus

CarGurus, Inc is an online automotive marketplace connecting buyers and sellers of new and used cars. Using proprietary technology, search algorithms, and data analytics. The Company’s marketplace empowers users with unbiased third-party validation on pricing and dealer reputation as well as other information that aids them in finding Great Deals from Great Dealers.

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Analyst Recommendations for CarGurus (NASDAQ:CARG)

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