CarGurus Inc (CARG) Expected to Post Earnings of $0.02 Per Share

Equities analysts expect CarGurus Inc (NASDAQ:CARG) to report $0.02 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for CarGurus’ earnings. The business is expected to issue its next earnings report on Thursday, June 7th.

On average, analysts expect that CarGurus will report full year earnings of $0.16 per share for the current fiscal year, with EPS estimates ranging from $0.15 to $0.16. For the next year, analysts expect that the firm will post earnings of $0.22 per share, with EPS estimates ranging from $0.21 to $0.23. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that follow CarGurus.

CarGurus (NASDAQ:CARG) last released its quarterly earnings results on Thursday, March 1st. The company reported $0.02 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.01. The firm had revenue of $87.71 million during the quarter, compared to analysts’ expectations of $86.22 million. The business’s quarterly revenue was up 197.5% on a year-over-year basis. During the same quarter last year, the business earned $0.27 earnings per share.

A number of equities analysts have recently issued reports on CARG shares. Benchmark started coverage on CarGurus in a research note on Thursday, March 22nd. They issued a “buy” rating and a $42.00 price target on the stock. BidaskClub upgraded CarGurus from a “sell” rating to a “hold” rating in a research note on Friday, January 26th. Zacks Investment Research downgraded CarGurus from a “buy” rating to a “hold” rating in a research note on Monday, January 15th. Finally, DA Davidson assumed coverage on CarGurus in a research note on Wednesday, April 4th. They issued a “neutral” rating and a $41.00 price target on the stock. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $35.20.

Shares of CARG stock traded up $0.23 on Wednesday, reaching $32.54. The stock had a trading volume of 1,703,027 shares, compared to its average volume of 292,895. The company has a market cap of $3,428.90 and a P/E ratio of 266.96. CarGurus has a 1 year low of $25.85 and a 1 year high of $40.60.

In other news, VP Thomas Michael Caputo sold 6,850 shares of CarGurus stock in a transaction dated Thursday, April 12th. The stock was sold at an average price of $33.89, for a total value of $232,146.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Ian G. Smith sold 6,650 shares of CarGurus stock in a transaction dated Wednesday, April 11th. The stock was sold at an average price of $37.44, for a total value of $248,976.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,500 shares of company stock worth $1,579,123.

Hedge funds have recently modified their holdings of the company. Quantitative Systematic Strategies LLC bought a new stake in shares of CarGurus in the fourth quarter worth about $210,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of CarGurus in the fourth quarter worth about $271,000. Franklin Resources Inc. bought a new stake in shares of CarGurus in the fourth quarter worth about $726,000. Two Sigma Investments LP bought a new stake in shares of CarGurus in the fourth quarter worth about $1,024,000. Finally, Macquarie Group Ltd. bought a new stake in shares of CarGurus in the fourth quarter worth about $1,137,000. 57.41% of the stock is currently owned by hedge funds and other institutional investors.

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CarGurus Company Profile

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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Earnings History and Estimates for CarGurus (NASDAQ:CARG)

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