CarGurus (NASDAQ:CARG) Sees Large Volume Increase – Should You Buy?

CarGurus, Inc. (NASDAQ:CARG) shares saw unusually-high trading volume on Monday . Approximately 1,467,110 shares traded hands during mid-day trading, an increase of 20% from the previous session’s volume of 1,221,802 shares.The stock last traded at $29.7390 and had previously closed at $28.67.

Wall Street Analysts Forecast Growth

CARG has been the topic of several recent analyst reports. Oppenheimer cut their price target on CarGurus from $40.00 to $38.00 and set an “outperform” rating on the stock in a research note on Tuesday, February 24th. DA Davidson cut their price target on CarGurus from $37.50 to $33.50 and set a “neutral” rating on the stock in a research note on Friday, February 20th. JPMorgan Chase & Co. boosted their price target on CarGurus from $36.00 to $38.00 and gave the stock a “neutral” rating in a research note on Friday, May 8th. Weiss Ratings cut CarGurus from a “hold (c+)” rating to a “hold (c)” rating in a research note on Wednesday, May 13th. Finally, BTIG Research cut their price target on CarGurus from $44.00 to $37.00 and set a “buy” rating on the stock in a research note on Friday, February 20th. Five equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $38.23.

CarGurus Stock Down 0.9%

The company has a 50 day simple moving average of $34.36 and a 200-day simple moving average of $34.35. The stock has a market cap of $2.56 billion, a price-to-earnings ratio of 18.68, a PEG ratio of 1.07 and a beta of 1.28.

CarGurus (NASDAQ:CARG) last announced its quarterly earnings data on Thursday, May 7th. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.02. CarGurus had a return on equity of 54.42% and a net margin of 15.57%.The firm had revenue of $243.56 million for the quarter, compared to analysts’ expectations of $243.10 million. During the same quarter in the prior year, the firm posted $0.46 earnings per share. CarGurus’s revenue for the quarter was up 8.2% compared to the same quarter last year. CarGurus has set its Q2 2026 guidance at 0.570-0.640 EPS. On average, equities research analysts expect that CarGurus, Inc. will post 2.06 EPS for the current fiscal year.

Insider Transactions at CarGurus

In other CarGurus news, insider Jennifer Ladd Hanson sold 2,499 shares of the company’s stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $35.61, for a total transaction of $88,989.39. Following the sale, the insider owned 98,191 shares in the company, valued at $3,496,581.51. This represents a 2.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CTO Matthew Todd Quinn sold 4,341 shares of the stock in a transaction that occurred on Thursday, April 2nd. The stock was sold at an average price of $33.04, for a total value of $143,426.64. Following the sale, the chief technology officer owned 246,098 shares in the company, valued at $8,131,077.92. The trade was a 1.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 12,852 shares of company stock worth $431,053. 17.20% of the stock is owned by corporate insiders.

Institutional Trading of CarGurus

Institutional investors and hedge funds have recently made changes to their positions in the stock. Brown Brothers Harriman & Co. acquired a new stake in shares of CarGurus during the 3rd quarter worth approximately $46,000. Torren Management LLC acquired a new stake in shares of CarGurus during the 4th quarter worth approximately $49,000. EverSource Wealth Advisors LLC grew its holdings in CarGurus by 491.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,639 shares of the company’s stock worth $55,000 after buying an additional 1,362 shares in the last quarter. Clearstead Advisors LLC grew its holdings in CarGurus by 321.2% in the 4th quarter. Clearstead Advisors LLC now owns 2,127 shares of the company’s stock worth $82,000 after buying an additional 1,622 shares in the last quarter. Finally, Rockefeller Capital Management L.P. grew its holdings in CarGurus by 356.5% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,173 shares of the company’s stock worth $83,000 after buying an additional 1,697 shares in the last quarter. 86.90% of the stock is currently owned by institutional investors and hedge funds.

CarGurus Company Profile

CarGurus, Inc operates an online automotive marketplace designed to connect buyers and sellers of new and used vehicles. Through its proprietary search engine and data-driven pricing tools, the platform enables consumers to compare listings, assess fair market values and locate local dealers offering competitive deals. CarGurus also provides detailed vehicle history reports, dealer reviews and financing options to streamline the car-shopping process for both private parties and franchised dealerships.

The company’s core product offerings include Instant Market Value (IMV), which leverages pricing algorithms to help buyers identify over- or under-priced vehicles, as well as dealer subscription services that grant automotive retailers access to lead generation tools, targeted advertising and dynamic pricing insights.