CarGurus (NASDAQ:CARG) issued an update on its third quarter earnings guidance on Tuesday morning. The company provided EPS guidance of $0.04-0.05 for the period, compared to the Thomson Reuters consensus EPS estimate of $0.05. The company issued revenue guidance of $112-113 million, compared to the consensus revenue estimate of $106.36 million.CarGurus also updated its FY18 guidance to $0.22-0.23 EPS.

CarGurus stock traded up $1.68 during trading hours on Thursday, reaching $55.46. 143,825 shares of the company’s stock traded hands, compared to its average volume of 637,343. The company has a market cap of $4.82 billion and a PE ratio of 462.13. CarGurus has a fifty-two week low of $25.85 and a fifty-two week high of $56.17.

CarGurus (NASDAQ:CARG) last announced its quarterly earnings results on Tuesday, August 7th. The company reported $0.06 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.04. The company had revenue of $110.33 million during the quarter, compared to the consensus estimate of $103.84 million. research analysts expect that CarGurus will post 0.11 earnings per share for the current fiscal year.

A number of brokerages have recently commented on CARG. Benchmark upped their price target on CarGurus from $44.00 to $50.00 and gave the company a buy rating in a research note on Wednesday. DA Davidson set a $53.00 price target on CarGurus and gave the company a buy rating in a research note on Wednesday. BidaskClub raised CarGurus from a buy rating to a strong-buy rating in a research note on Thursday, July 26th. Zacks Investment Research raised CarGurus from a hold rating to a buy rating and set a $49.00 price target for the company in a research note on Thursday, August 2nd. Finally, Royal Bank of Canada raised CarGurus from a sector perform rating to an outperform rating and set a $33.00 price target for the company in a research note on Wednesday. One analyst has rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $44.17.

In related news, insider Oliver Ian Chrzan sold 6,000 shares of the stock in a transaction that occurred on Friday, August 3rd. The stock was sold at an average price of $44.29, for a total transaction of $265,740.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Langley Steinert sold 176,109 shares of the stock in a transaction that occurred on Tuesday, August 7th. The stock was sold at an average price of $44.82, for a total value of $7,893,205.38. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,954,921 shares of company stock valued at $166,435,711. 51.03% of the stock is owned by company insiders.

About CarGurus

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.

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Earnings History and Estimates for CarGurus (NASDAQ:CARG)

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