CarGurus (CARG) to Release Earnings on Thursday

CarGurus (NASDAQ:CARG) is scheduled to announce its earnings results after the market closes on Thursday, May 9th. Analysts expect the company to announce earnings of $0.29 per share for the quarter. CarGurus has set its Q1 guidance at $0.24-0.29 EPS.Persons interested in registering for the company’s earnings conference call can do so using this link.

CarGurus (NASDAQ:CARG) last announced its quarterly earnings results on Monday, February 26th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.34 by $0.01. The firm had revenue of $223.12 million during the quarter, compared to the consensus estimate of $220.05 million. CarGurus had a net margin of 3.40% and a return on equity of 7.74%. The business’s quarterly revenue was down 22.2% compared to the same quarter last year. During the same period last year, the firm earned $0.25 EPS. On average, analysts expect CarGurus to post $1 EPS for the current fiscal year and $1 EPS for the next fiscal year.

CarGurus Stock Performance

CarGurus stock opened at $22.61 on Wednesday. The stock has a market cap of $2.43 billion, a P/E ratio of 125.61, a PEG ratio of 1.38 and a beta of 1.57. CarGurus has a fifty-two week low of $16.02 and a fifty-two week high of $24.64. The firm’s fifty day moving average price is $22.76 and its 200-day moving average price is $22.28.

Analyst Ratings Changes

Several research firms have weighed in on CARG. Needham & Company LLC raised their price target on CarGurus from $22.00 to $24.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. JMP Securities reissued a “market perform” rating on shares of CarGurus in a research note on Wednesday, April 17th. UBS Group raised their price objective on shares of CarGurus from $26.00 to $27.00 and gave the company a “neutral” rating in a research report on Friday, March 15th. Finally, Oppenheimer upped their target price on shares of CarGurus from $26.00 to $30.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 27th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, CarGurus currently has an average rating of “Moderate Buy” and an average price target of $24.90.

Insider Buying and Selling at CarGurus

In related news, COO Samuel Zales sold 17,668 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $22.22, for a total transaction of $392,582.96. Following the transaction, the chief operating officer now directly owns 564,609 shares in the company, valued at approximately $12,545,611.98. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other CarGurus news, COO Samuel Zales sold 17,668 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $22.22, for a total value of $392,582.96. Following the sale, the chief operating officer now owns 564,609 shares of the company’s stock, valued at approximately $12,545,611.98. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, General Counsel Javier Esquivel Zamora sold 23,557 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $22.13, for a total transaction of $521,316.41. Following the completion of the transaction, the general counsel now owns 111,589 shares in the company, valued at approximately $2,469,464.57. The disclosure for this sale can be found here. Insiders sold a total of 113,793 shares of company stock worth $2,523,342 over the last three months. Company insiders own 15.70% of the company’s stock.

About CarGurus

CarGurus, Inc operates an online automotive platform for buying and selling vehicles in the United States and internationally. It operates through two segments, U.S. Marketplace and Digital Wholesale. The company provides an online automotive marketplace where customers can search for new and used car listings from its dealers and sell their car to dealers and other consumers; and paid listings subscriptions for enhanced access to its marketplace that connects dealers to a large audience of informed and engaged consumers.