CarGurus (CARG) Receives a Rating Update from a Top Analyst
In a report released today, Aaron Kessler from Raymond James maintained a Hold rating on CarGurus (CARG). The company’s shares closed last Thursday at $22.09.
According to TipRanks.com, Kessler is a top 25 analyst with an average return of 24.9% and a 74.2% success rate. Kessler covers the Technology sector, focusing on stocks such as Uber Technologies, Alphabet Class C, and GoodRx Holdings.
CarGurus has an analyst consensus of Moderate Buy, with a price target consensus of $33.00, a 51.3% upside from current levels. In a report released today, Needham also assigned a Hold rating to the stock.
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Based on CarGurus’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $94.74 million and net profit of $7.13 million. In comparison, last year the company earned revenue of $145 million and had a net profit of $6.01 million.
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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.