Zacks Investment Research Downgrades CarGurus (CARG) to Hold

Zacks Investment Research lowered shares of CarGurus (NASDAQ:CARG) from a buy rating to a hold rating in a research report released on Tuesday.

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. “

A number of other equities research analysts also recently issued reports on CARG. BidaskClub downgraded shares of CarGurus from a hold rating to a sell rating in a research report on Friday, December 29th. Raymond James Financial began coverage on shares of CarGurus in a research report on Monday, November 6th. They set a market perform rating for the company. William Blair began coverage on shares of CarGurus in a research report on Monday, November 6th. They set an outperform rating for the company. Royal Bank of Canada began coverage on shares of CarGurus in a research report on Monday, November 6th. They set a sector perform rating and a $33.00 price target for the company. Finally, JMP Securities began coverage on shares of CarGurus in a research report on Monday, November 6th. They set a market perform rating for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company’s stock. CarGurus has a consensus rating of Hold and an average price target of $31.00.

Shares of CarGurus (CARG) traded down $0.15 on Tuesday, reaching $30.33. The company’s stock had a trading volume of 150,400 shares, compared to its average volume of 291,014. CarGurus has a 12 month low of $25.85 and a 12 month high of $35.42. The stock has a market cap of $3,220.00 and a price-to-earnings ratio of -144.43.

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

In other news, CEO Langley Steinert sold 3,390,524 shares of CarGurus 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 $50,450,997.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Oliver Ian Chrzan sold 270,793 shares of CarGurus 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 $4,029,399.84. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,454,188 shares of company stock valued at $81,158,317.

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CarGurus Company Profile

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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