Benchmark Co. analyst Daniel Kurnos maintained a Buy rating on CarGurus Inc (NASDAQ: CARG) today and set a price target of $44. The company’s shares closed yesterday at $31.96.
Kurnos observed:
“We expect CarGurus will continue to build a unique moat, much in the vein of Zillow (ZG: Buy), which will ultimately allow them to win market and wallet share over time.”
According to TipRanks.com, Kurnos is a 4-star analyst with an average return of 7.9% and a 50.0% success rate. Kurnos covers the Services sector, focusing on stocks such as Chicken Soup For The Soul Entertainment Inc, Sinclair Broadcast, and 1-800 Flowers.com.
Currently, the analyst consensus on CarGurus Inc is Moderate Buy and the average price target is $40.67, representing a 27.3% upside.
In a report issued on May 1, D.A. Davidson also upgraded the stock to Buy with a $41 price target.
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Based on CarGurus Inc’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $90.6 million and quarterly net profit of $2.04 million. In comparison, last year the company earned revenue of $67.04 million and had a net profit of $1.73 million.
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Cargurus, Inc. engages in the provision of online auto shopping. It operates through proprietary technology, search algorithms, and innovative data analytics to analyze new and used car listings. The company was founded by Langley Steinert in 2006 and is headquartered in Cambridge, MA.
