Somewhat Favorable News Coverage Somewhat Unlikely to Impact CarGurus (CARG) Stock Price

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News coverage about CarGurus (NASDAQ:CARG) has been trending somewhat positive recently, Accern reports. Accern scores the sentiment of news coverage by analyzing more than 20 million news and blog sources in real-time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. CarGurus earned a news impact score of 0.10 on Accern’s scale. Accern also assigned media headlines about the company an impact score of 46.2817193374305 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the stock’s share price in the near term.

Here are some of the media headlines that may have effected Accern Sentiment’s analysis:

NASDAQ:CARG opened at $49.66 on Wednesday. CarGurus has a 1 year low of $25.85 and a 1 year high of $56.17. The company has a market capitalization of $5.47 billion and a price-to-earnings ratio of 413.83.

CarGurus (NASDAQ:CARG) last released its quarterly earnings data on Tuesday, August 7th. The company reported $0.06 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.04. CarGurus had a return on equity of 12.60% and a net margin of 10.34%. The business had revenue of $110.33 million for the quarter, compared to the consensus estimate of $103.84 million. sell-side analysts expect that CarGurus will post 0.1 earnings per share for the current year.

A number of research analysts recently commented on the company. Benchmark boosted their price target on CarGurus from $44.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, August 8th. DA Davidson set a $53.00 price target on CarGurus and gave the stock a “buy” rating in a report on Wednesday, August 8th. Zacks Investment Research cut CarGurus from a “buy” rating to a “hold” rating in a report on Monday, August 13th. BidaskClub raised CarGurus from a “hold” rating to a “buy” rating in a report on Thursday, June 21st. Finally, Royal Bank of Canada raised CarGurus from a “sector perform” rating to an “outperform” rating and set a $33.00 price target on the stock in a report on Wednesday, August 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. CarGurus has a consensus rating of “Buy” and a consensus target price of $44.17.

In other CarGurus news, major shareholder Argonaut 22 Llc sold 849,225 shares of CarGurus stock in a transaction that occurred on Thursday, May 31st. The stock was sold at an average price of $32.31, for a total value of $27,438,459.75. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Ian G. Smith sold 101,400 shares of CarGurus stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of $49.88, for a total value of $5,057,832.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,087,675 shares of company stock worth $150,987,024. Corporate insiders own 51.03% of the company’s stock.

About CarGurus

CarGurus, Inc operates an online automotive marketplace connecting buyers and sellers of new and used cars worldwide. The company's marketplace enables users with third-party validation on pricing, dealer reputation, and other information. As of June 30, 2017, it had an active dealer network of approximately 40,000 dealers; and approximately 5.4 million car listings.

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