CarGurus (CARG) Getting Somewhat Favorable News Coverage, Report Finds

Headlines about CarGurus (NASDAQ:CARG) have trended somewhat positive on Tuesday, according to Accern Sentiment. The research firm identifies negative and positive media coverage by analyzing more than twenty million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. CarGurus earned a daily sentiment score of 0.09 on Accern’s scale. Accern also assigned headlines about the company an impact score of 46.4856426928184 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the near term.

CARG has been the topic of a number of research reports. Goldman Sachs Group initiated coverage on shares of CarGurus in a research note on Monday, November 6th. They set a “neutral” rating and a $25.00 target price on the stock. JMP Securities initiated coverage on shares of CarGurus in a research note on Monday, November 6th. They set a “market perform” rating on the stock. William Blair initiated coverage on shares of CarGurus in a research note on Monday, November 6th. They set an “outperform” rating on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $34.00 target price (up previously from $33.00) on shares of CarGurus in a research note on Wednesday, November 15th. Finally, Raymond James Financial initiated coverage on shares of CarGurus in a research note on Monday, November 6th. They set a “market perform” rating on the stock. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. CarGurus presently has a consensus rating of “Hold” and a consensus target price of $29.50.

CarGurus (NASDAQ CARG) traded down $0.76 during trading hours on Tuesday, reaching $29.80. 187,520 shares of the company traded hands, compared to its average volume of 533,576. CarGurus has a 1-year low of $25.85 and a 1-year high of $35.42.

CarGurus (NASDAQ:CARG) last posted its quarterly earnings data on Tuesday, November 14th. The company reported $0.02 EPS for the quarter. The business had revenue of $83.00 million for the quarter, compared to the consensus estimate of $79.23 million. CarGurus’s quarterly revenue was up 56.3% compared to the same quarter last year. analysts expect that CarGurus will post 0.11 EPS for the current fiscal year.

In related news, CEO Langley Steinert sold 3,390,524 shares of the business’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $14.88, for a total transaction of $50,450,997.12. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director David Lambert Parker sold 269,871 shares of the business’s stock in a transaction dated Monday, October 16th. The stock was sold at an average price of $14.88, for a total transaction of $4,015,680.48. The disclosure for this sale can be found here. Insiders have sold 5,454,188 shares of company stock worth $81,158,317 in the last three months.

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About CarGurus

CarGurus, Inc is an online automotive marketplace connecting buyers and sellers of new and used cars. Using proprietary technology, search algorithms, and data analytics. The Company’s marketplace empowers users with unbiased third-party validation on pricing and dealer reputation as well as other information that aids them in finding Great Deals from Great Dealers.

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