At the time of writing, CarGurus Inc [CARG] stock is trading at $22.55, up 1.44%. One of the good ways to gauge the recent performance is if the stock’s short-term value is rising or falling. The CARG shares have gain 3.20% over the last week, with a monthly amount drifted -5.37%, and not seem to be holding up well over a long-time horizon.
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On 26, February 2024, CarGurus Announces Fourth Quarter and Full-Year 2023 Results. In a post published today on Yahoo Finance, 4Q’23 Marketplace Revenue further accelerated to 10% YoY, fastest pace in 10 quarters.
From an analyst’s perspective:
CarGurus Inc [NASDAQ: CARG] stock has seen the most recent analyst activity on February 27, 2024, when Needham reiterated its Buy rating and also boosted its price target to $24 from $22. Previously, UBS started tracking the stock with Neutral rating on September 15, 2023, and set its price target to $21. On July 20, 2023, B. Riley Securities initiated with a Buy rating and assigned a price target of $28 on the stock. JP Morgan started tracking the stock assigning a Overweight rating and suggested a price target of $29 on June 27, 2023. Piper Sandler downgraded its rating to a Underweight but $12 remained the price target by the analyst firm on February 16, 2023.
For the past year, the stock price of CarGurus Inc fluctuated between $15.34 and $24.64. Currently, Wall Street analysts expect the stock to reach $24.57 within the next 12 months. CarGurus Inc [NASDAQ: CARG] shares were valued at $22.55 at the most recent close of the market. An investor can expect a potential return of 8.96% based on the average CARG price forecast.
Analyzing the CARG fundamentals
According to CarGurus Inc [NASDAQ:CARG], the company’s sales were 914.24M for trailing twelve months, which represents an -22.19% plunge. Gross Profit Margin for this corporation currently stands at 0.71% with Operating Profit Margin at 0.04%, Pretax Profit Margin comes in at 0.06%, and Net Profit Margin reading is 0.04%. To continue investigating profitability, this company’s Return on Assets is posted at 0.04, Equity is 0.05 and Total Capital is 0.04. Upon thorough examination of the company’s fundamental financial framework, it becomes apparent that the debt-to-equity ratio stands at 0.32.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 22.34 points at the first support level, and at 22.14 for the second support level. However, for the 1st resistance point, the stock is sitting at 22.79, and for the 2nd resistance point, it is at 23.04.
CarGurus Inc [CARG] reported earnings per share of $0.35 for its fiscal quarter that ended on 12/30/2023. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.34/share, meaning a difference of $0.01 and a surprise factor of 2.90%. By comparison, the stated earnings for the previous quarter ended on 9/29/2023 were $0.34 per share as compared to estimates of $0.26 per share, a difference of $0.08 representing a surprise of 30.80%.
Ratios To Look Out For
It is important to note that CarGurus Inc [NASDAQ:CARG] has a current ratio of 3.30. Also, the Quick Ratio is 3.30, while the Cash Ratio stands at 2.53. Considering the valuation of this stock, the price to sales ratio is 2.65, the price to book ratio is 3.95 and price to earnings (TTM) ratio is 85.51.
Transactions by insiders
Recent insider trading involved Zamora Javier Esquivel, General Counsel and Secretary, that happened on Feb 29 ’24 when 23557.0 shares were sold. Chief People Officer, Eldridge Andrea Lee completed a deal on Feb 29 ’24 to sell 22358.0 shares. Meanwhile, COO and President Zales Samuel sold 17668.0 shares on Feb 29 ’24.
