Fintel reports that on June 7, 2024, JMP Securities upgraded their outlook for CarGurus (NasdaqGS:CARG) from Market Perform to Market Outperform.
Analyst Price Forecast Suggests 5.73% Upside
As of June 1, 2024, the average one-year price target for CarGurus is 26.61. The forecasts range from a low of 15.15 to a high of $31.50. The average price target represents an increase of 5.73% from its latest reported closing price of 25.17.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for CarGurus is 1,797MM, an increase of 100.09%. The projected annual non-GAAP EPS is 1.05.
What is the Fund Sentiment?
There are 564 funds or institutions reporting positions in CarGurus. This is an decrease of 5 owner(s) or 0.88% in the last quarter. Average portfolio weight of all funds dedicated to CARG is 0.25%, an increase of 0.70%. Total shares owned by institutions decreased in the last three months by 5.29% to 102,845K shares. 
The put/call ratio of CARG is 0.47, indicating a bullish outlook.
What are Other Shareholders Doing?
ArrowMark Colorado Holdings holds 8,586K shares representing 8.24% ownership of the company. In its prior filing, the firm reported owning 8,881K shares , representing a decrease of 3.43%. The firm decreased its portfolio allocation in CARG by 6.04% over the last quarter.
Wellington Management Group Llp holds 7,599K shares representing 7.29% ownership of the company. In its prior filing, the firm reported owning 5,706K shares , representing an increase of 24.91%. The firm decreased its portfolio allocation in CARG by 82.82% over the last quarter.
IJR - iShares Core S&P Small-Cap ETF holds 5,808K shares representing 5.57% ownership of the company. In its prior filing, the firm reported owning 5,733K shares , representing an increase of 1.28%. The firm decreased its portfolio allocation in CARG by 7.31% over the last quarter.
Foxhaven Asset Management holds 5,015K shares representing 4.81% ownership of the company. In its prior filing, the firm reported owning 4,649K shares , representing an increase of 7.30%. The firm decreased its portfolio allocation in CARG by 3.13% over the last quarter.
VEXPX - VANGUARD EXPLORER FUND Investor Shares holds 3,340K shares representing 3.21% ownership of the company. No change in the last quarter.
CarGurus Background Information
(This description is provided by the company.)
Founded in 2006, CarGurus is a global, online automotive marketplace connecting buyers and sellers of new and used cars. The Company uses proprietary technology, search algorithms and data analytics to bring trust and transparency to the automotive search experience and help users find great deals from top-rated dealers. CarGurus is the most visited automotive shopping site in the U.S. (source: Comscore Media Metrix® Multi-Platform, Automotive - Information/Resources, Total Audience, Q4 2020, U.S. (Competitive set includes: CarGurus.com, Autotrader.com,Cars.com, TrueCar.com)). In addition to the United States, CarGurus operates online marketplaces under the CarGurus brand in Canada and the United Kingdom. In the United States and the United Kingdom, CarGurus also operates the Autolist and PistonHeads online marketplaces, respectively, as independent brands. CarGurus also holds a majority stake in CarOffer, an instant trade digital wholesale platform based in Plano, Texas.
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