Now Is The Time To Buy CarGurus Inc. (NASDAQ: CARG) – Marketing Sentinel
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Now Is The Time To Buy CarGurus Inc. (NASDAQ: CARG)

During the last session, CarGurus Inc. (NASDAQ:CARG)’s traded shares were 2.03 million, with the beta value of the company hitting 1.54. At the end of the trading day, the stock’s price was $23.54, reflecting an intraday gain of 5.32% or $1.19. The 52-week high for the CARG share is $50.03, that puts it down -112.53 from that peak though still a striking 14.4% gain since the share price plummeted to a 52-week low of $20.15. The company’s market capitalization is $2.98B, and the average intraday trading volume over the past 10 days was 2.02 million shares, and the average trade volume was 1.45 million shares over the past three months.

CarGurus Inc. (CARG) received a consensus recommendation of a Buy from analysts. That translates to a mean rating of 2.00. CARG has a Sell rating from 0 analyst(s) out of 12 analysts who have looked at this stock. 2 analyst(s) recommend to Hold the stock while 1 suggest Overweight, and 9 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $0.3.

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CarGurus Inc. (NASDAQ:CARG) trade information

CarGurus Inc. (CARG) registered a 5.32% upside in the last session and has traded in the red over the past 5 sessions. The stock spiked 5.32% in intraday trading to $23.54 this Thursday, 05/12/22, hitting a weekly high. The stock’s 5-day price performance is -30.64%, and it has moved by -41.99% in 30 days. Based on these gigs, the overall price performance for the year is -15.23%. The short interest in CarGurus Inc. (NASDAQ:CARG) is 5.46 million shares and it means that shorts have 5.2 day(s) to cover.

The consensus price target of analysts on Wall Street is $41.09, which implies an increase of 42.71% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $31.00 and $53.00 respectively. As a result, CARG is trading at a discount of -125.15% off the target high and -31.69% off the low.

CarGurus Inc. (CARG) estimates and forecasts

Statistics show that CarGurus Inc. has underperformed its competitors in share price, compared to the industry in which it operates. CarGurus Inc. (CARG) shares have gone down -38.07% during the last six months, with a year-to-date growth rate less than the industry average at 3.80% against 8.20. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to shrink -6.30% this quarter and then jump 3.00% in the quarter after that. In the rating firms’ projections, revenue will increase 61.70% compared to the previous financial year.

Revenue for the current quarter is expected to be $279.88 million as predicted by 12 analyst(s). Meanwhile, a consensus of 8 analyst(s) estimates revenue growth to $297.03 million by the end of Mar 2022. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $151.55 million and $171.37 million respectively. In this case, analysts expect current quarter sales to grow by 84.70% and then jump by 73.30% in the coming quarter.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 64.80%. While earnings are projected to return -100.20% in 2022, the next five years will return 13.00% per annum.

CARG Dividends

CarGurus Inc. is due to release its next quarterly earnings between February 09 and February 14. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

CarGurus Inc. (NASDAQ:CARG)’s Major holders

CarGurus Inc. insiders own 5.39% of total outstanding shares while institutional holders control 100.17%, with the float percentage being 105.88%. Vanguard Group, Inc. (The) is the largest shareholder of the company, while 315 institutions own stock in it. As of Sep 29, 2021, the company held over 9.71 million shares (or 9.55% of all shares), a total value of $304.89 million in shares.

The next largest institutional holding, with 9.28 million shares, is of Dragoneer Investment Group, LLC’s that is approximately 9.13% of outstanding shares. At the market price on Sep 29, 2021, these shares were valued at $291.6 million.

Also, the Mutual Funds coming in first place with the largest holdings of CarGurus Inc. (CARG) shares are Hartford Mid Cap Fund and Vanguard Total Stock Market Index Fund. Data provided on Oct 30, 2021 indicates that Hartford Mid Cap Fund owns about 3.24 million shares. This amounts to just over 3.19 percent of the company’s overall shares, with a $108.8 million market value. The same data shows that the other fund manager holds slightly less at 2.54 million, or about 2.50% of the stock, which is worth about $79.74 million.

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