CarGurus (CARG) Cut to “Hold” at Zacks Investment Research

Zacks Investment Research downgraded shares of CarGurus (NASDAQ:CARG) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning.

According to Zacks, “CarGurus, Inc. is an online automotive marketplace connecting buyers and sellers of new and used cars. The company uses proprietary technology, search algorithms and data analytics. It operates primarily in Canada, the United Kingdom and Germany. CarGurus, Inc.is based in CAMBRIDGE, United States. “

CARG has been the topic of a number of other research reports. Royal Bank of Canada began coverage on shares of CarGurus in a research report on Monday, November 6th. They issued a sector perform rating and a $33.00 price target on the stock. JMP Securities began coverage on shares of CarGurus in a research report on Monday, November 6th. They issued a market perform rating on the stock. Goldman Sachs Group began coverage on shares of CarGurus in a research report on Monday, November 6th. They issued a neutral rating and a $25.00 price target on the stock. William Blair began coverage on shares of CarGurus in a research report on Monday, November 6th. They issued an outperform rating on the stock. Finally, Raymond James Financial began coverage on shares of CarGurus in a research report on Monday, November 6th. They issued a market perform rating on the stock. One analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. The stock currently has an average rating of Hold and a consensus price target of $31.00.

Shares of CarGurus (NASDAQ:CARG) opened at $30.63 on Tuesday. CarGurus has a one year low of $25.85 and a one year high of $35.42.

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

In other news, CEO Langley Steinert sold 3,390,524 shares of CarGurus stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $14.88, for a total value of $50,450,997.12. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director David Lambert Parker sold 269,871 shares of CarGurus stock in a transaction that occurred on Monday, October 16th. The shares were 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. In the last three months, insiders sold 5,454,188 shares of company stock worth $81,158,317.

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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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