CarGurus Inc (NASDAQ:CARG)’s share price hit a new 52-week high during mid-day trading on Friday . The company traded as high as $37.66 and last traded at $37.50, with a volume of 48831 shares. The stock had previously closed at $36.45.
A number of brokerages have recently issued reports on CARG. Zacks Investment Research lowered shares of CarGurus from a “hold” rating to a “sell” rating in a research report on Tuesday. BidaskClub upgraded shares of CarGurus from a “sell” rating to a “hold” rating in a research report on Friday, January 26th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $34.00 target price (up from $33.00) on shares of CarGurus in a research report on Wednesday, November 15th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the stock. CarGurus currently has an average rating of “Hold” and an average price target of $31.00.
CarGurus (NASDAQ:CARG) last announced its quarterly earnings data on Thursday, March 1st. The company reported $0.02 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.01 by $0.01. The business had revenue of $87.71 million during the quarter, compared to analyst estimates of $86.22 million. During the same quarter in the prior year, the company earned $0.27 earnings per share. The company’s quarterly revenue was up 197.5% on a year-over-year basis. equities research analysts predict that CarGurus Inc will post 0.1 earnings per share for the current year.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Quantitative Systematic Strategies LLC acquired a new position in CarGurus in the fourth quarter valued at approximately $210,000. Arrowstreet Capital Limited Partnership acquired a new position in CarGurus in the fourth quarter valued at approximately $271,000. Franklin Resources Inc. acquired a new position in CarGurus in the fourth quarter valued at approximately $726,000. Two Sigma Investments LP acquired a new position in CarGurus in the fourth quarter valued at approximately $1,024,000. Finally, Macquarie Group Ltd. acquired a new position in CarGurus in the fourth quarter valued at approximately $1,137,000. Institutional investors and hedge funds own 57.38% of the company’s stock.
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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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