CarGurus Inc. [NASDAQ: CARG] stock went on a downward path that fall over -25.51% on Tuesday, amounting to a one-week price decrease of less than -22.93%. The company report on August 8, 2022 that CarGurus Announces Second Quarter 2022 Results.
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Second Quarter Highlights:.
Total revenue of $511.2 million, an increase of 135% year-over-year.
Over the last 12 months, CARG stock dropped by -35.96%. The one-year CarGurus Inc. stock forecast points to a potential upside of 49.91. The average equity rating for CARG stock is currently 1.90, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $2.23 billion, with 118.03 million shares outstanding and 100.91 million shares in the current float. Compared to the average trading volume of 1.13M shares, CARG stock reached a trading volume of 4620301 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on 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 $38.25 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 1.90. 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.
JMP Securities have made an estimate for CarGurus Inc. shares, keeping their opinion on the stock as Mkt Perform, with their previous recommendation back on June 30, 2022. While these analysts kept the previous recommendation, BTIG Research dropped their target price from $40 to $33. The new note on the price target was released on June 21, 2022, representing the official price target for CarGurus Inc. stock. Previously, the target price had yet another raise to $43, while Northcoast analysts kept a Buy rating on CARG stock. On January 07, 2022, analysts increased their price target for CARG shares from 42 to 45.
The Average True Range (ATR) for CarGurus Inc. is set at 1.46, with the Price to Sales ratio for CARG stock in the period of the last 12 months amounting to 1.85. The Price to Book ratio for the last quarter was 4.86, with the Price to Cash per share for the same quarter was set at 3.22. Price to Free Cash Flow for CARG in the course of the last twelve months was 15.98 with Quick ratio for the last quarter at 3.70.
CARG Stock Performance Analysis:
CarGurus Inc. [CARG] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -22.93. With this latest performance, CARG shares dropped by -15.78% in over the last four-week period, additionally sinking by -44.70% over the last 6 months – not to mention a drop of -35.96% 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 30.48, with the RSI for the last a single of trading hit 23.29, and the three-weeks RSI is set at 34.77 for CarGurus Inc. [CARG]. The present Moving Average for the last 50 days of trading for this stock 23.60, while it was recorded at 24.24 for the last single week of trading, and 32.47 for the last 200 days.
Insight into CarGurus Inc. Fundamentals:
CarGurus Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.70 and a Current Ratio set at 3.80.
CARG Stock EPS
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 13.00%.
CarGurus Inc. [CARG] Insider Position Details
There are presently around $1,962 million, in the hands of institutional investors. The top three institutional holders of CARG stocks are: WELLINGTON MANAGEMENT GROUP LLP with ownership of 14,128,717, which is approximately 30.409% of the company’s market cap and around 2.10% of the total institutional ownership; VANGUARD GROUP INC, holding 9,570,750 shares of the stock with an approximate value of $183.38 million in CARG stocks shares; and DRAGONEER INVESTMENT GROUP, LLC, currently with $177.88 million in CARG stock with ownership of nearly 0% of the company’s market capitalization.
135 institutional holders increased their position in CarGurus Inc. [NASDAQ:CARG] by around 11,127,053 shares. Additionally, 147 investors decreased positions by around 12,665,763 shares, while 26 investors held positions by with 78,618,686 shares. The mentioned changes placed institutional holdings at 102,411,502 shares, according to the latest SEC report filing. CARG stock had 55 new institutional investments in for a total of 4,028,444 shares, while 55 institutional investors sold positions of 1,946,695 shares during the same period.