Citigroup began coverage on shares of CarGurus (NASDAQ:CARG) in a report published on Friday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $45.00 target price on the stock.

CARG has been the topic of a number of other reports. SunTrust Banks assumed coverage on CarGurus in a research note on Monday, November 19th. They issued a buy rating and a $49.00 price objective on the stock. BidaskClub lowered CarGurus from a strong-buy rating to a buy rating in a research note on Wednesday, October 3rd. Zacks Investment Research lowered CarGurus from a buy rating to a hold rating in a research note on Monday, August 13th. BTIG Research assumed coverage on CarGurus in a research note on Tuesday, November 13th. They issued a buy rating and a $48.00 price objective on the stock. Finally, ValuEngine raised CarGurus from a hold rating to a buy rating in a research note on Tuesday, August 28th. One investment analyst has rated the stock with a sell rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of Buy and an average price target of $50.75.

CarGurus stock opened at $34.81 on Friday. The company has a market capitalization of $3.89 billion, a P/E ratio of 290.08, a P/E/G ratio of 54.37 and a beta of 1.86. CarGurus has a one year low of $28.52 and a one year high of $57.25.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings data on Wednesday, November 7th. The company reported $0.08 EPS for the quarter, topping the Zacks’ consensus estimate of $0.05 by $0.03. The company had revenue of $119.04 million for the quarter, compared to analyst estimates of $112.70 million. CarGurus had a return on equity of 9.82% and a net margin of 11.78%. The firm’s quarterly revenue was up 43.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.02 earnings per share. Analysts predict that CarGurus will post 0.13 EPS for the current year.

In other CarGurus news, insider Oliver Ian Chrzan sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, December 7th. The stock was sold at an average price of $35.69, for a total value of $214,140.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Kathleen Bender Patton sold 8,120 shares of the business’s stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $51.67, for a total value of $419,560.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,519,971 shares of company stock worth $215,382,226. 51.03% of the stock is owned by insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Marshall Wace LLP lifted its stake in CarGurus by 401.5% in the third quarter. Marshall Wace LLP now owns 418,467 shares of the company’s stock valued at $23,304,000 after buying an additional 335,029 shares during the period. Clearbridge Investments LLC lifted its stake in CarGurus by 3.3% in the third quarter. Clearbridge Investments LLC now owns 251,937 shares of the company’s stock valued at $14,030,000 after buying an additional 8,131 shares during the period. Vanguard Group Inc. lifted its stake in CarGurus by 20.2% in the third quarter. Vanguard Group Inc. now owns 4,512,695 shares of the company’s stock valued at $251,312,000 after buying an additional 759,094 shares during the period. TIAA CREF Investment Management LLC lifted its stake in CarGurus by 142.1% in the third quarter. TIAA CREF Investment Management LLC now owns 261,259 shares of the company’s stock valued at $14,550,000 after buying an additional 153,364 shares during the period. Finally, Teachers Advisors LLC lifted its stake in CarGurus by 8.7% in the third quarter. Teachers Advisors LLC now owns 342,546 shares of the company’s stock valued at $19,076,000 after buying an additional 27,334 shares during the period. 68.67% of the stock is currently owned by hedge funds and other institutional investors.

CarGurus Company Profile

CarGurus, Inc operates an online automotive marketplace connecting buyers and sellers of new and used cars worldwide. The company's marketplace enables users with third-party validation on pricing, dealer reputation, and other information. As of June 30, 2017, it had an active dealer network of approximately 40,000 dealers; and approximately 5.4 million car listings.

Featured Article: New Google Finance Tool and Screening Stocks

Analyst Recommendations for CarGurus (NASDAQ:CARG)

Receive News & Ratings for CarGurus Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for CarGurus and related companies with MarketBeat.com's FREE daily email newsletter.