CarGurus (NASDAQ:CARG) Updates Q4 2024 Earnings Guidance

CarGurus (NASDAQ:CARG) updated its fourth quarter 2024 earnings guidance on Thursday. The company provided EPS guidance of 0.500-0.550 for the period, compared to the consensus EPS estimate of 0.460. The company issued revenue guidance of $219.0 million-$239.0 million, compared to the consensus revenue estimate of $225.6 million. CarGurus also updated its FY 2024 guidance to 1.670-1.730 EPS.

CarGurus Stock Performance

Shares of CARG stock traded up $1.45 during mid-day trading on Friday, reaching $34.81. 1,309,888 shares of the company’s stock traded hands, compared to its average volume of 478,031. The firm has a market capitalization of $3.60 billion, a PE ratio of -75.67, a price-to-earnings-growth ratio of 1.83 and a beta of 1.55. CarGurus has a 12 month low of $18.59 and a 12 month high of $37.89. The firm has a 50 day moving average price of $30.25 and a two-hundred day moving average price of $26.94.

CarGurus (NASDAQ:CARG) last issued its quarterly earnings results on Thursday, August 8th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.23 by $0.07. CarGurus had a positive return on equity of 11.06% and a negative net margin of 5.57%. The business had revenue of $218.69 million during the quarter, compared to analyst estimates of $214.85 million. As a group, equities analysts expect that CarGurus will post 1.16 earnings per share for the current fiscal year.

Analyst Ratings Changes

CARG has been the subject of several research reports. Royal Bank of Canada increased their price objective on shares of CarGurus from $27.00 to $30.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Jefferies Financial Group increased their price target on shares of CarGurus from $35.00 to $38.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. B. Riley boosted their price objective on CarGurus from $28.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Oppenheimer raised their price objective on CarGurus from $32.00 to $44.00 and gave the company an “outperform” rating in a research note on Friday. Finally, JPMorgan Chase & Co. boosted their target price on CarGurus from $36.00 to $40.00 and gave the company an “overweight” rating in a research report on Friday. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $34.59.

Insiders Place Their Bets

In related news, COO Samuel Zales sold 25,168 shares of the firm’s stock in a transaction dated Wednesday, October 16th. The stock was sold at an average price of $31.62, for a total transaction of $795,812.16. Following the sale, the chief operating officer now owns 449,821 shares of the company’s stock, valued at $14,223,340.02. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CTO Matthew Todd Quinn sold 3,495 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $29.43, for a total value of $102,857.85. Following the completion of the sale, the chief technology officer now owns 205,696 shares of the company’s stock, valued at $6,053,633.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Samuel Zales sold 25,168 shares of the company’s stock in a transaction dated Wednesday, October 16th. The shares were sold at an average price of $31.62, for a total value of $795,812.16. Following the transaction, the chief operating officer now directly owns 449,821 shares in the company, valued at $14,223,340.02. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 61,065 shares of company stock worth $1,823,794 over the last 90 days. Company insiders own 17.20% of the company’s stock.

CarGurus Company Profile

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.