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.

NASDAQ:CARG traded down $0.06 on Thursday, reaching $36.10. 400,308 shares of the company’s stock were exchanged, compared to its average volume of 1,157,599. The firm has a market capitalization of $4.25 billion, a price-to-earnings ratio of 41.02, a price-to-earnings-growth ratio of 4.64 and a beta of 1.81. The business has a fifty day moving average of $34.43 and a 200-day moving average of $30.16. CarGurus has a 52-week low of $22.63 and a 52-week high of $39.76.

CarGurus (NASDAQ:CARG) last issued its quarterly earnings results on Monday, November 8th. The company reported $0.38 EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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 in the previous year, the firm posted $0.30 earnings per share. As a group, research analysts anticipate that CarGurus will post 0.82 EPS for the current year.

A number of equities research analysts recently issued reports on the company. Needham & Company LLC upped their target price on CarGurus from $38.00 to $46.00 and gave the company a buy rating in a research note on Wednesday, November 10th. They noted that the move was a valuation call. TheStreet raised CarGurus from a c+ rating to a b- rating in a research note on Monday, August 30th. Benchmark upped their price target on CarGurus from $59.00 to $63.00 and gave the company a buy 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 stock an outperform rating in a report on Wednesday, November 10th. Finally, Raymond James raised their target price on CarGurus from $38.00 to $41.00 and gave the stock an outperform rating in a research report on Wednesday, November 10th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, CarGurus has an average rating of Buy and an average price target of $42.70.

In other news, COO Samuel Zales sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 15th. The stock was sold at an average price of $31.84, for a total value of $318,400.00. Following the completion of the transaction, the chief operating officer now owns 373,807 shares in the company, valued at approximately $11,902,014.88. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 transaction of $852,794.36. The disclosure for this sale can be found here. Over the last three months, insiders sold 672,657 shares of company stock worth $22,940,127. Insiders own 21.72% of the company’s stock.

A hedge fund recently raised its stake in CarGurus stock. Bank of New York Mellon Corp lifted its position in CarGurus, Inc. (NASDAQ:CARG) by 1.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 356,863 shares of the company’s stock after acquiring an additional 6,680 shares during the period. Bank of New York Mellon Corp owned 0.30% of CarGurus worth $11,209,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds 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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