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CARG

CarGurus, Inc.

https://www.cargurus.com

Industry

Internet Content & Information

CarGurus, Inc. operates an online automotive marketplace connecting buyers and sellers of new and used cars in the United States and internationally. The company provides consumers an online automotive marketplace where they can search for new and used car listings from its dealers, as well as sell their car in the United States marketplace. Its marketplace connects dealers to a large audience of informed and engaged consumers. The company operates online marketplaces under the CarGurus brand in Canada and the United Kingdom; and the Autolist and PistonHeads online marketplaces as independent brands in the United States and the United Kingdom. CarGurus, Inc. was founded in 2005 and is headquartered in Cambridge, Massachusetts.

Open

35.41

Mkt cap

3.7B

Volume

496K

High

35.92

P/E Ratio

-78.67

52-wk high

37.94

Low

35.18

Div yield

N/A

52-wk low

20.02

Needham analyst Chris Pierce has reiterated a 'Buy' rating on CarGurus (NASDAQ:CARG) and maintained a price target of $22.

Portfolio Pulse from Benzinga Newsdesk

November 08, 2023 | 12:23 pm

CarGurus has released its Q4 and FY23 guidance. For Q4, it expects EPS of $0.30-$0.33, higher than the estimated $0.28, and revenue of $208M-$228M, compared to the estimated $222.46M. For FY23, it anticipates EPS of $1.19-$1.22, higher than the estimated $1.10, and revenue of $899M-$919M, compared to the estimated $910.57M. The guidance is based on recent market behaviors and industry conditions, excluding macro-level industry issues and potential impact of foreign currency exchange gains or losses.

Portfolio Pulse from Benzinga Newsdesk

November 07, 2023 | 9:35 pm

CarGurus reported better-than-expected Q3 financial results and announced a $250 million share repurchase program authorized by its Board of Directors. This has led to an increase in the company's share price.

Portfolio Pulse from Benzinga Newsdesk

November 07, 2023 | 9:34 pm

The Board of Directors at CarGurus Inc has authorized a $250M share repurchase program, which will commence in 2024.

Portfolio Pulse from Benzinga Newsdesk

November 07, 2023 | 9:23 pm

CarGurus (NASDAQ:CARG) has announced its decision to fully acquire CarOffer for $75 million in an all-cash transaction. The deal is expected to close in December 2023. CarGurus had previously acquired a 51% stake in CarOffer in 2021. The acquisition is part of CarGurus' strategy to strengthen operations between the two platforms and accelerate plans for solutions that power its development of a transaction-enabled platform supporting dealers and consumers.

Portfolio Pulse from Benzinga Newsdesk

November 07, 2023 | 9:16 pm

CarGurus (NASDAQ:CARG) reported Q3 earnings of $0.34 per share, beating the analyst consensus estimate of $0.26 by 30.77%. This is a 61.9% increase from the same period last year. The company also reported quarterly sales of $219.42 million, beating the analyst consensus estimate of $215.97 million by 1.60%. However, this is a 48.55% decrease from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

November 07, 2023 | 9:02 pm

RBC Capital analyst Brad Erickson has identified Fiverr International Ltd (FVRR) and Bumble Inc (BMBL) as having the most favorable risk/reward ratios among nine companies reporting this week. He also mentioned Uber Technologies, Inc (UBER), Lyft, Inc (LYFT), Squarespace, Inc (SQSP), Upwork Inc (UPWK), Wix.Com Ltd (WIX), and CarGurus, Inc (CARG). The analyst also noted potential risks for WIX and FVRR due to the Middle East war, as they are Tel Aviv-based.

Portfolio Pulse from Anusuya Lahiri

November 06, 2023 | 8:04 pm

Carvana Co (NYSE:CVNA) is set to report Q3 earnings on Nov. 2, with expectations of a negative 80 cents in EPS and $2.78 billion in revenues. The company's stock has seen significant fluctuations, with a boost following a successful debt restructuring agreement that reduced total debt by over $1.2 billion. However, analysts have expressed concerns about the higher interest rates on all of its debt as a result of the restructuring. The stock is currently rated as 'Hold' with a consensus price target of $28.68.

Portfolio Pulse from Surbhi Jain

November 02, 2023 | 1:17 pm

CarGurus (NASDAQ:CARG) has announced the appointment of Elisa Palazzo as its Chief Financial Officer (CFO), effective from December 4, 2023. Palazzo, who currently serves as Deputy CFO and Senior Vice President of Finance at Talkspace, will lead financial operations and strategy at CarGurus. The move is part of the company's goal to build a powerful transaction-enabled destination that supports the full lifecycle of a vehicle transaction.

Portfolio Pulse from Benzinga Newsdesk

October 30, 2023 | 1:09 pm

In Friday's after-market session, several communication services stocks saw significant movement. Gainers included Asset Entities (ASST), Hanryu Holdings (HRYU), Angi (ANGI), and CarGurus (CARG), with increases ranging from 3.19% to 5.0%. Losers included Treasure Global (TGL), Motorsport Games (MSGM), Cuentas (CUEN), Blue Hat Interactive (BHAT), Liberty TripAdvisor Hldgs (LTRPA), and FaZe Hldgs (FAZE), with decreases ranging from 4.53% to 8.0%.

Portfolio Pulse from Benzinga Insights

October 20, 2023 | 9:31 pm

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