CARG Stock Price CarGurus Inc Cl A Stock Quote U.S.: Nasdaq

And we have unwavering standards for how we keep that integrity intact, from our research and data to our policies on content and your personal data. Upgrade to MarketBeat All Access to add more stocks to your watchlist. 56 employees have rated CarGurus Chief Executive Officer Jason Trevisan on Glassdoor.com.

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11 Wall Street equities research analysts have issued “buy,” “hold,” and “sell” ratings for CarGurus in the last twelve months. There are currently 1 sell rating, 3 hold ratings and 7 buy ratings for the stock. The consensus among Wall Street equities research analysts is that investors should “buy” CARG shares. At the center of everything we do is a strong commitment to independent research and sharing its profitable discoveries with investors. This dedication to giving investors a trading advantage led to the creation of our proven Zacks Rank stock-rating system.

Another stock from the broader Zacks Auto-Tires-Trucks sector, Modine (MOD Quick QuoteMOD – Free Report) , has yet to report results for the quarter ended March 2023. Get stock recommendations, portfolio guidance, and more from The Motley Fool’s premium services. Volatility profiles based on trailing-three-year calculations of the standard deviation of service investment returns. Transparency is how we protect the integrity of our work and keep empowering investors to achieve their goals and dreams.

CarGurus Inc is a company that acts as an online automotive marketplace connecting buyers and sellers of new and used cars. It also provides all dealers with a web widget to place Deal Rating Badges, which show deal rating. The listing platforms offer auto manufacturers and others to buy advertising on the company’s site and target consumers based on the make, model, and zip code of the cars. The company operates through two geographical segments namely United States and the International. It generates majority of revenue from the United States. This heating and cooling products maker is expected to post quarterly earnings of $0.48 per share in its upcoming report, which represents a year-over-year change of -15.8%.

Raymond James Sticks to Its Buy Rating for CarGurus (CARG)

Jason Trevisan has an approval rating of 80% among the company’s employees. 81.0% of employees surveyed would recommend working at CarGurus to a friend. CarGurus shares have added about 16% since the beginning of the year versus the S&P 500’s gain of 7.8%.

Only Zacks Rank stocks included in Zacks hypothetical portfolios at the beginning of each month are included in the return calculations. Zacks Ranks stocks can, and often do, change throughout the month. Certain Zacks Rank stocks for which no month-end price was available, pricing information was not collected, or for certain other reasons have been excluded from these return calculations.

The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. 11 brokerages have issued 12 month target prices for CarGurus’ stock. Their CARG share price forecasts range from $12.00 to $37.00. On average, they predict the company’s share price to reach $21.27 in the next twelve months. This suggests a possible upside of 10.6% from the stock’s current price.

Analyst Ratings

Recent stocks from this report have soared up to +178.7% in 3 months – this month’s picks could be even better. Modine’s revenues are expected to be $604.6 million, up 5.3% from the year-ago quarter. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Automotive – Replacement Parts is currently in the bottom 14% of the 250 plus Zacks industries.

These are established companies that reliably pay dividends. CarGurus saw a decrease in short interest during the month of April. As of April 30th, there was short interest totaling 8,570,000 shares, a decrease of 12.4% from the April 15th total of 9,780,000 shares. Based on an average trading volume of 1,020,000 shares, the days-to-cover ratio is presently 8.4 days. It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead.

Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. CarGurus (CARG Quick QuoteCARG – Free Report) came out with quarterly earnings of $0.26 per share, beating the Zacks Consensus Estimate of $0.16 per share. This compares to earnings of $0.36 per share a year ago. Style is an investment factor that has a meaningful impact on investment risk and returns. Style is calculated by combining value and growth scores, which are first individually calculated. © 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions.

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About CarGurus (NASDAQ:CARG) Stock

Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. CarGurus revenue is accelerating with the addition of wholesale car sales to its business. Compare
CARG’s historical performance
against its industry peers and the overall market.

(CARG) raised $132 million in an initial public offering (IPO) on Thursday, October 12th 2017. The company issued 9,400,000 shares at a price of $13.00-$15.00 per share. Goldman Sachs, Allen & Company and RBC Capital Markets acted as the underwriters for the IPO and JMP Securities, Raymond James and William Blair were co-managers. The company is scheduled to release its next quarterly earnings announcement on Monday, August 14th 2023. CarGurus’ stock was trading at $14.01 at the beginning of the year. Since then, CARG stock has increased by 37.3% and is now trading at $19.23.

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Our investment management business generates asset-based fees, which are calculated as a percentage of assets under management. We also sell both admissions and sponsorship packages for our investment conferences and advertising on our websites and newsletters. High-growth stocks tend to represent the technology, healthcare, and communications sectors. They rarely distribute dividends to shareholders, opting for reinvestment in their businesses. More value-oriented stocks tend to represent financial services, utilities, and energy stocks.

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View analysts price targets for CARG or view top-rated stocks among Wall Street analysts. This quarterly report represents an earnings surprise of 62.50%. A quarter ago, it was expected that this online auto shopping platform would post earnings of $0.09 per share when it actually produced earnings of $0.22, delivering a surprise of 144.44%. We sell different types of products and services to both investment professionals and individual investors. These products and services are usually sold through license agreements or subscriptions.

ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating indiv idual securities. Growth in average revenue per dealer and a strong U.S. market drove better-than-expected results. CarGurus’ stock is owned by a number of institutional and retail investors. The sustainability of the stock’s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management’s commentary on the earnings call. Over the last four quarters, the company has surpassed consensus EPS estimates three times.

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Since 1988 it has more than doubled the S&P 500 with an average gain of +24.27% per year. These returns cover a period from January 1, 1988 through April 3, 2023. Zacks Rank stock-rating system returns are computed monthly based on the beginning of the month and end of the month Zacks Rank stock prices plus any dividends received during that particular month. A simple, equally-weighted average return of all Zacks Rank stocks is calculated to determine the monthly return. The monthly returns are then compounded to arrive at the annual return.

CARG’s beta can be found in Trading Information at the top of this page. A stock’s beta measures how closely tied its price movements have been to the performance of the overall market. One share of CARG stock can currently be purchased for approximately $19.23. Sign-up to receive the latest news and ratings for CarGurus and its competitors with MarketBeat’s FREE daily newsletter. MarketRank is calculated as an average of available category scores, with extra weight given to analysis and valuation. Our experts picked 7 Zacks Rank #1 Strong Buy stocks with the best chance to skyrocket within the next days.

• Certain Zacks Rank stocks for which no month-end price was available, pricing information was not collected, or for certain other reasons have been excluded from these return calculations.
• CarGurus, which belongs to the Zacks Automotive – Replacement Parts industry, posted revenues of $231.96 million for the quarter ended March 2023, surpassing the Zacks Consensus Estimate by 12.01%.
• Zacks Ranks stocks can, and often do, change throughout the month.
• Since 1988 it has more than doubled the S&P 500 with an average gain of +24.27% per year.

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The current consensus EPS estimate is $0.18 on $218.4 million in revenues for the coming quarter and $0.77 on $890.4 million in revenues for the current fiscal year. Dividend yield allows investors, particularly those interested in dividend-paying stocks,
to compare the relationship between a stock’s price and how it rewards stockholders through dividends. The formula for calculating dividend yield is to divide the annual dividend paid per share by the stock price.

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company’s earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. CarGurus, which belongs to the Zacks Automotive – Replacement Parts industry, posted revenues of $231.96 million for the quarter ended March 2023, surpassing the Zacks Consensus Estimate by 12.01%. The company has topped consensus revenue estimates three times over the last four quarters. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions.