Needham Releases a Hold Rating on CarGurus (CARG)
In a report released today, Brad Erickson from Needham assigned a Hold rating to CarGurus (CARG). The company’s shares closed last Thursday at $22.09.
According to TipRanks.com, Erickson is a 5-star analyst with an average return of 24.8% and a 55.1% success rate. Erickson covers the Technology sector, focusing on stocks such as Zillow Group Class A, Zillow Group Class C, and Fiverr International.
Currently, the analyst consensus on CarGurus is a Moderate Buy with an average price target of $33.00.
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CarGurus’ market cap is currently $2.5B and has a P/E ratio of 58.30. The company has a Price to Book ratio of 9.46.
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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.