CarGurus (NASDAQ:CARG) Issues Q4 2021 Earnings Guidance

CarGurus (NASDAQ:CARG) updated its fourth quarter 2021 earnings guidance on Tuesday. The company provided earnings per share guidance of $0.280-$0.300 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.310. The company issued revenue guidance of $273 million-$285 million, compared to the consensus revenue estimate of $222.32 million.CarGurus also updated its FY 2021 guidance to $1.410-$1.430 EPS.

Shares of NASDAQ:CARG traded down $0.06 during trading on Thursday, hitting $36.10. The company’s stock had a trading volume of 400,308 shares, compared to its average volume of 1,157,599. CarGurus has a fifty-two week low of $22.63 and a fifty-two week high of $39.76. The business has a 50 day moving average price of $34.43 and a two-hundred day moving average price of $30.16. The company has a market capitalization of $4.25 billion, a PE ratio of 41.02, a P/E/G ratio of 4.64 and a beta of 1.81.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings data on Monday, November 8th. The company reported $0.38 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.19. CarGurus had a net margin of 13.72% and a return on equity of 24.54%. During the same period last year, the firm earned $0.30 EPS. On average, equities analysts predict that CarGurus will post 0.82 earnings per share for the current year.

CARG has been the subject of a number of analyst reports. DA Davidson upped their price target on CarGurus from $31.00 to $42.00 and gave the stock a neutral rating in a report on Monday, November 15th. Raymond James raised their target price on shares of CarGurus from $38.00 to $41.00 and gave the stock an outperform rating in a report on Wednesday, November 10th. Royal Bank of Canada lifted their price objective on CarGurus from $40.00 to $48.00 and gave the company an outperform rating in a research report on Wednesday, November 10th. BTIG Research upped their target price on CarGurus from $36.00 to $43.00 and gave the stock a buy rating in a research report on Wednesday, November 10th. Finally, Zacks Investment Research lowered CarGurus from a buy rating to a hold rating in a report on Monday, October 25th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Buy and a consensus target price of $42.70.

In other CarGurus news, Chairman Langley Steinert sold 27,988 shares of the firm’s stock in a transaction on Friday, August 27th. The shares were sold at an average price of $30.47, for a total value of $852,794.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Yann Bruno Gellot sold 1,694 shares of the company’s stock in a transaction that occurred on Wednesday, November 3rd. The stock was sold at an average price of $34.76, for a total value of $58,883.44. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 672,657 shares of company stock valued at $22,940,127. Company insiders own 21.72% of the company’s stock.

A hedge fund recently raised its stake in CarGurus stock. BNP Paribas Arbitrage SA lifted its position in shares of CarGurus, Inc. (NASDAQ:CARG) by 275.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,790 shares of the company’s stock after purchasing an additional 14,526 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in CarGurus were worth $622,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 78.57% of the company’s stock.

CarGurus Company Profile

Cargurus, Inc engages in the provision of online auto shopping. The firm offers proprietary technology, search algorithms and data analytics to analyze new and used car listings. It operates through the following segments: United States and International. The United States segment derives revenues from marketplace subscriptions, advertising services and other revenues from customers within the United States.

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Earnings History and Estimates for CarGurus (NASDAQ:CARG)

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