CarGurus (CARG) Receives a Buy from Oppenheimer


In a report released today, Jed Kelly from Oppenheimer assigned a Buy rating to CarGurus (CARG), with a price target of $38.00. The company’s shares closed last Friday at $28.60.

According to TipRanks.com, Kelly is a 4-star analyst with an average return of 8.4% and a 48.1% success rate. Kelly covers the Technology sector, focusing on stocks such as Rush Street Interactive, Spotify Technology SA, and DraftKings.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for CarGurus with a $33.50 average price target, representing a 18.5% upside. In a report issued on May 6, Raymond James also maintained a Buy rating on the stock with a $34.00 price target.

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The company has a one-year high of $36.54 and a one-year low of $19.24. Currently, CarGurus has an average volume of 1.32M.

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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.

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