CarGurus (NASDAQ:CARG) Stock Price Breaks Above Fifty Day Moving Average – What’s Next?

CarGurus, Inc. (NASDAQ:CARG) shares crossed above its 50-day moving average during trading on Thursday. The stock has a 50-day moving average of $32.45 and traded as high as $32.75. CarGurus shares last traded at $32.50, with a volume of 1,169,132 shares traded.

Wall Street Analyst Weigh In

Several equities analysts have commented on CARG shares. BTIG Research raised their price target on shares of CarGurus from $40.00 to $41.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Oppenheimer upped their price objective on CarGurus from $38.00 to $44.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 12th. B. Riley Financial reiterated a “buy” rating on shares of CarGurus in a research note on Friday, August 7th. UBS Group decreased their target price on CarGurus from $40.00 to $35.00 and set a “neutral” rating for the company in a report on Wednesday, October 7th. Finally, Needham & Company LLC boosted their target price on CarGurus from $43.00 to $44.00 and gave the stock a “buy” rating in a research note on Friday, August 7th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $39.95.

CarGurus Stock Performance

The stock has a market capitalization of $2.87 billion, a price-to-earnings ratio of 17.49, a PEG ratio of 1.15 and a beta of 1.22. The business has a 50-day moving average of $32.35 and a 200-day moving average of $32.85.

CarGurus (NASDAQ:CARG) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.61 by $0.05. CarGurus had a net margin of 18.06% and a return on equity of 62.88%. The firm had revenue of $250.97 million during the quarter, compared to the consensus estimate of $249.85 million. During the same quarter in the prior year, the firm earned $0.57 EPS. CarGurus’s revenue for the quarter was up 7.2% on a year-over-year basis. CarGurus has set its Q3 2026 guidance at 0.630-0.690 EPS. On average, research analysts predict that CarGurus, Inc. will post 2.17 earnings per share for the current fiscal year.

Insider Activity

In other CarGurus news, Director Greg Schwartz sold 10,000 shares of the company’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $36.07, for a total value of $360,700.00. Following the sale, the director owned 8,716 shares of the company’s stock, valued at approximately $314,386.12. This represents a 53.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Samuel Zales sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 15th. The stock was sold at an average price of $30.31, for a total transaction of $303,100.00. Following the transaction, the chief operating officer directly owned 429,735 shares of the company’s stock, valued at approximately $13,025,267.85. This trade represents a 2.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 78,187 shares of company stock valued at $2,691,547 in the last quarter. Insiders own 18.19% of the company’s stock.

Hedge Funds Weigh In On CarGurus

Several hedge funds and other institutional investors have recently made changes to their positions in CARG. Prevatt Capital Ltd grew its holdings in shares of CarGurus by 12.5% during the first quarter. Prevatt Capital Ltd now owns 2,475,000 shares of the company’s stock valued at $84,274,000 after buying an additional 275,000 shares in the last quarter. Congress Asset Management Co. lifted its stake in CarGurus by 7.6% in the 3rd quarter. Congress Asset Management Co. now owns 2,125,686 shares of the company’s stock worth $66,236,000 after acquiring an additional 149,338 shares in the last quarter. Bessemer Group Inc. lifted its stake in CarGurus by 18.2% in the 1st quarter. Bessemer Group Inc. now owns 1,085,061 shares of the company’s stock worth $36,945,000 after acquiring an additional 166,954 shares in the last quarter. Bank of America Corp DE boosted its position in CarGurus by 26.6% during the 1st quarter. Bank of America Corp DE now owns 586,346 shares of the company’s stock worth $19,965,000 after acquiring an additional 123,364 shares during the period. Finally, Principal Financial Group Inc. boosted its position in CarGurus by 19.1% during the 1st quarter. Principal Financial Group Inc. now owns 573,406 shares of the company’s stock worth $19,524,000 after acquiring an additional 91,755 shares during the period. Institutional investors and hedge funds own 86.90% of the company’s stock.

CarGurus Company Profile

CarGurus, Inc operates an online automotive marketplace that connects consumers with automobile dealers and private sellers. Its platform enables shoppers to search for new and used vehicles, compare listings, evaluate vehicle and dealer information, and contact sellers. CarGurus generates revenue primarily by providing dealers with digital listing, advertising and marketing products designed to help them reach potential buyers.

The company also offers tools intended to support automotive retailers’ online operations, including inventory merchandising, lead generation and digital retailing capabilities.