Oppenheimer analyst Jed Kelly maintained a Buy rating on CarGurus (CARG) today and set a price target of $39.00. The company’s shares closed last Thursday at $31.80.
According to TipRanks.com, Kelly is a 5-star analyst with an average return of 11.4% and a 51.2% success rate. Kelly covers the Technology sector, focusing on stocks such as Paypal Holdings, Black Knight, and Corelogic.
Currently, the analyst consensus on CarGurus is a Moderate Buy with an average price target of $30.50, implying a -1.3% downside from current levels. In a report issued on August 5, Benchmark Co. also maintained a Buy rating on the stock with a $35.00 price target.
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CarGurus’ market cap is currently $3.58B and has a P/E ratio of 85.30. The company has a Price to Book ratio of 14.43.
Based on the recent corporate insider activity of 182 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CARG in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Cargurus, Inc. engages in the provision of online auto shopping. It offers proprietary technology, search algorithms, and innovative data analytics to analyze new and used car listings. The firm operates through the following segments: United States and International. The United States segment derives revenues from marketplace subscriptions, advertising services, and other revenues from customers within the United States. The International segment includes the revenues from marketplace subscriptions, advertising services, and other revenues from customers outside of the United States. The company was founded by Langley Steinert in 2006 and is headquartered in Cambridge, MA.
