Royal Bank Of Canada Initiates Coverage on CarGurus, Inc. (NASDAQ:CARG)

Royal Bank Of Canada started coverage on shares of CarGurus, Inc. (NASDAQ:CARG) in a research report released on Monday, November 6th, MarketBeat.com reports. The firm issued a sector perform rating and a $33.00 price target on the stock.

Other analysts also recently issued research reports about the stock. JMP Securities began coverage on shares of CarGurus in a research report on Monday, November 6th. They issued a market perform rating for the company. Goldman Sachs Group, Inc. (The) assumed coverage on shares of CarGurus in a research report on Monday, November 6th. They issued a neutral rating and a $25.00 price target for the company. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The stock has a consensus rating of Hold and an average price target of $29.50.

CarGurus (NASDAQ:CARG) traded down $0.35 during trading hours on Monday, hitting $28.64. 483,615 shares of the stock traded hands, compared to its average volume of 708,486. CarGurus has a 12 month low of $25.85 and a 12 month high of $35.42.

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

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In other news, major shareholder Argonaut 22 Llc sold 1,523,000 shares of CarGurus stock in a transaction on Monday, October 16th. The stock was sold at an average price of $14.88, for a total transaction of $22,662,240.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Oliver Ian Chrzan sold 270,793 shares of CarGurus stock in a transaction on Monday, October 16th. The stock was sold at an average price of $14.88, for a total value of $4,029,399.84. The disclosure for this sale can be found here. Insiders have sold a total of 5,454,188 shares of company stock worth $81,158,317 over the last ninety days.

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.

Analyst Recommendations for CarGurus (NASDAQ:CARG)

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