CarGurus (CARG) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of CarGurus (NASDAQ:CARG) from a hold rating to a buy rating in a research note published on Monday morning. They currently have $34.00 price target on the stock.

According to Zacks, “CarGurus, Inc. is an online automotive marketplace connecting buyers and sellers of new and used cars. The company uses proprietary technology, search algorithms and data analytics. It operates primarily in Canada, the United Kingdom and Germany. CarGurus, Inc.is based in CAMBRIDGE, United States. “

Other research analysts also recently issued research reports about the stock. Raymond James Financial initiated coverage on shares of CarGurus in a report on Monday, November 6th. They set a market perform rating on the stock. JMP Securities initiated coverage on shares of CarGurus in a report on Monday, November 6th. They set a market perform rating on the stock. Goldman Sachs Group started coverage on shares of CarGurus in a report on Monday, November 6th. They set a neutral rating and a $25.00 price objective on the stock. William Blair started coverage on shares of CarGurus in a research report on Monday, November 6th. They set an outperform rating on the stock. Finally, Royal Bank of Canada started coverage on shares of CarGurus in a research report on Monday, November 6th. They set a sector perform rating and a $33.00 target price on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $31.00.

CarGurus (NASDAQ:CARG) traded down $0.09 during trading hours on Monday, hitting $30.63. 49,769 shares of the stock traded hands, compared to its average volume of 240,478. CarGurus has a one year low of $25.85 and a one year high of $35.42. The company has a market cap of $3,220.00 and a P/E ratio of -145.86.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings data on Tuesday, November 14th. The company reported $0.02 earnings per share (EPS) for the quarter. The company had revenue of $83.00 million for the quarter, compared to the consensus estimate of $79.23 million. The business’s revenue for the quarter was up 56.3% on a year-over-year basis. research analysts forecast that CarGurus will post 0.11 earnings per share for the current fiscal year.

In other news, VP Oliver Ian Chrzan sold 270,793 shares of CarGurus stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $14.88, for a total transaction of $4,029,399.84. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director David Lambert Parker sold 269,871 shares of CarGurus stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $14.88, for a total transaction of $4,015,680.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,454,188 shares of company stock worth $81,158,317.

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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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