CarGurus (NASDAQ:CARG) Updates Q4 Earnings Guidance

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CarGurus (NASDAQ:CARG) updated its fourth quarter earnings guidance on Tuesday. The company provided earnings per share guidance of $0.12-$0.13 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.14. The company issued revenue guidance of $152.2-$155.2 million, compared to the consensus revenue estimate of $154.05 million.

Several brokerages have issued reports on CARG. JMP Securities dropped their target price on CarGurus to $50.00 and set an outperform rating on the stock in a research report on Wednesday, August 7th. Needham & Company LLC began coverage on CarGurus in a research report on Thursday, September 12th. They issued a hold rating on the stock. ValuEngine raised CarGurus from a hold rating to a buy rating in a research report on Tuesday, August 6th. BidaskClub raised CarGurus from a hold rating to a buy rating in a research report on Saturday, October 26th. Finally, Zacks Investment Research cut CarGurus from a buy rating to a hold rating in a research report on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $47.42.

Shares of NASDAQ CARG traded up $2.26 during trading on Wednesday, hitting $36.08. The company had a trading volume of 178,011 shares, compared to its average volume of 721,334. The stock has a 50 day simple moving average of $31.73 and a 200 day simple moving average of $34.66. The company has a debt-to-equity ratio of 0.23, a quick ratio of 2.68 and a current ratio of 2.68. CarGurus has a 12 month low of $28.65 and a 12 month high of $49.00. The firm has a market capitalization of $4.67 billion, a P/E ratio of 63.05, a price-to-earnings-growth ratio of 3.47 and a beta of 1.88.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings data on Tuesday, November 5th. The company reported $0.14 EPS for the quarter, topping the consensus estimate of $0.04 by $0.10. CarGurus had a return on equity of 17.12% and a net margin of 8.22%. The firm had revenue of $150.50 million for the quarter, compared to the consensus estimate of $147.99 million. During the same quarter last year, the company earned $0.08 earnings per share. The business’s revenue for the quarter was up 26.4% compared to the same quarter last year. As a group, analysts predict that CarGurus will post 0.28 EPS for the current year.

In related news, CEO Langley Steinert sold 117,406 shares of CarGurus stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $32.79, for a total transaction of $3,849,742.74. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Sarah Amory Welch sold 2,500 shares of CarGurus stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $31.61, for a total value of $79,025.00. The disclosure for this sale can be found here. Insiders sold 1,424,661 shares of company stock worth $46,182,050 in the last ninety days. Corporate insiders own 34.51% of the company’s stock.

CarGurus Company Profile

CarGurus, Inc operates an online automotive marketplace connecting buyers and sellers of new and used cars in the United States, Canada, the United Kingdom, Germany, Italy, and Spain. The company provides consumers an online automotive marketplace where they can search for new and used car listings from its dealers, as well as sell their car in the United States marketplace.

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Earnings History and Estimates for CarGurus (NASDAQ:CARG)

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