Sunday, February 28, 2021

Jefferies slashes price target on CarGurus Inc. [CARG] – find out why.

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CarGurus Inc. [NASDAQ: CARG] jumped around 1.55 points on Monday, while shares priced at $29.99 at the close of the session, up 5.43%. The company report on December 10, 2020 that CarGurus Agrees to Acquire a Majority Stake in Instant Trade Platform, CarOffer.

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Acquisition Will Fuel CarGurus’ Platform Growth, With Expanded Capabilities To Help Dealers Buy and Sell Wholesale Inventory.


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CarGurus (Nasdaq: CARG), a leading global online automotive marketplace, announced it has entered into a definitive agreement to acquire a 51% interest in Plano, TX-based CarOffer at an enterprise valuation of $275M, with the ability to buy the remaining equity interest in the company over the next three years. The deal is subject to certain regulatory approvals and other closing conditions.

CarGurus Inc. stock is now -14.77% down from its year-to-date (YTD) trading value. CARG Stock saw the intraday high of $30.285 and lowest of $28.74 per share. The company’s 52-week high price is 38.53, which means current price is +110.42% above from all time high which was touched on 01/21/20.

Compared to the average trading volume of 1.54M shares, CARG reached a trading volume of 4218028 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about CarGurus Inc. [CARG]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for CARG shares is $32.08 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on CARG stock is a recommendation set at 2.20. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Jefferies have made an estimate for CarGurus Inc. shares, keeping their opinion on the stock as Hold, with their previous recommendation back on December 04, 2020. The new note on the price target was released on October 23, 2020, representing the official price target for CarGurus Inc. stock.

The Average True Range (ATR) for CarGurus Inc. is set at 1.13, with the Price to Sales ratio for CARG stock in the period of the last 12 months amounting to 5.75. The Price to Book ratio for the last quarter was 10.03, with the Price to Cash per share for the same quarter was set at 2.30. Price to Free Cash Flow for CARG in the course of the last twelve months was 25.51 with Quick ratio for the last quarter at 5.00.

How has CARG stock performed recently?

CarGurus Inc. [CARG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 24.21. With this latest performance, CARG shares gained by 35.99% in over the last four-week period, additionally plugging by 13.28% over the last 6 months – not to mention a drop of -19.42% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for CARG stock in for the last two-week period is set at 81.79, with the RSI for the last a single of trading hit 87.73, and the three-weeks RSI is set at 76.78 for CarGurus Inc. [CARG]. The present Moving Average for the last 50 days of trading for this stock 22.83, while it was recorded at 26.75 for the last single week of trading, and 23.53 for the last 200 days.

CarGurus Inc. [CARG]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and CarGurus Inc. [CARG] shares currently have an operating margin of +5.96 and a Gross Margin at +93.06. CarGurus Inc.’s Net Margin is presently recorded at +7.16.

Return on Total Capital for CARG is now 13.49, given the latest momentum, and Return on Invested Capital for the company is 16.47. Return on Equity for this stock inclined to 18.69, with Return on Assets sitting at 12.58. When it comes to the capital structure of this company, CarGurus Inc. [CARG] has a Total Debt to Total Equity ratio set at 27.10. Additionally, CARG Total Debt to Total Capital is recorded at 21.32, with Total Debt to Total Assets ending up at 17.68. Long-Term Debt to Equity for the company is recorded at 23.68, with the Long-Term Debt to Total Capital now at 18.63.

Reflecting on the efficiency of the workforce at the company, CarGurus Inc. [CARG] managed to generate an average of $45,761 per employee. Receivables Turnover for the company is 32.96 with a Total Asset Turnover recorded at a value of 1.76.CarGurus Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 5.00 and a Current Ratio set at 5.00.

Earnings analysis for CarGurus Inc. [CARG]

With the latest financial reports released by the company, CarGurus Inc. posted 0.17/share EPS, while the average EPS was predicted by analysts to be reported at 0.13/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 30.80%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for CARG. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for CarGurus Inc. go to 27.35%.

Insider trade positions for CarGurus Inc. [CARG]

There are presently around $2,713 million, or 96.90% of CARG stock, in the hands of institutional investors. The top three institutional holders of CARG stocks are: MANUFACTURERS LIFE INSURANCE COMPANY, THE with ownership of 7,779,034, which is approximately -4.216% of the company’s market cap and around 2.10% of the total institutional ownership; VANGUARD GROUP INC, holding 7,472,985 shares of the stock with an approximate value of $224.08 million in CARG stocks shares; and BLACKROCK INC., currently with $221.81 million in CARG stock with ownership of nearly 20.024% of the company’s market capitalization.

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Positions in CarGurus Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 118 institutional holders increased their position in CarGurus Inc. [NASDAQ:CARG] by around 11,633,793 shares. Additionally, 88 investors decreased positions by around 11,910,735 shares, while 25 investors held positions by with 66,930,205 shares. The mentioned changes placed institutional holdings at 90,474,733 shares, according to the latest SEC report filing. CARG stock had 41 new institutional investments in for a total of 2,894,614 shares, while 23 institutional investors sold positions of 2,710,304 shares during the same period.

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