CarGurus (NASDAQ:CARG – Get Free Report) updated its third quarter 2024 earnings guidance on Thursday. The company provided EPS guidance of 0.380-0.440 for the period, compared to the consensus EPS estimate of 0.360. The company issued revenue guidance of $212.0 million-$232.0 million, compared to the consensus revenue estimate of $220.6 million. CarGurus also updated its Q3 guidance to $0.38-$0.44 EPS.
CarGurus Stock Up 20.3 %
Shares of CARG stock traded up $4.54 during trading on Friday, reaching $26.94. 2,005,431 shares of the company’s stock were exchanged, compared to its average volume of 904,858. CarGurus has a twelve month low of $16.70 and a twelve month high of $27.00. The firm’s fifty day moving average price is $25.10 and its 200-day moving average price is $23.81. The stock has a market capitalization of $2.81 billion, a PE ratio of 96.21, a PEG ratio of 1.40 and a beta of 1.57.
CarGurus (NASDAQ:CARG – Get Free Report) last released its quarterly earnings results on Thursday, May 9th. The company reported $0.22 EPS for the quarter, beating the consensus estimate of $0.19 by $0.03. The business had revenue of $215.80 million for the quarter, compared to the consensus estimate of $217.29 million. CarGurus had a net margin of 4.04% and a return on equity of 8.80%. As a group, analysts anticipate that CarGurus will post 0.98 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Read Our Latest Stock Analysis on CARG
Insider Activity
In other news, General Counsel Javier Esquivel Zamora sold 6,680 shares of the company’s stock in a transaction that occurred on Thursday, June 6th. The stock was sold at an average price of $25.00, for a total value of $167,000.00. Following the completion of the transaction, the general counsel now owns 102,130 shares of the company’s stock, valued at $2,553,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, General Counsel Javier Esquivel Zamora sold 6,680 shares of the business’s stock in a transaction on Thursday, June 6th. The shares were sold at an average price of $25.00, for a total value of $167,000.00. Following the sale, the general counsel now owns 102,130 shares of the company’s stock, valued at $2,553,250. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, COO Samuel Zales sold 25,168 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $26.49, for a total value of $666,700.32. Following the transaction, the chief operating officer now directly owns 488,083 shares of the company’s stock, valued at $12,929,318.67. The disclosure for this sale can be found here. Over the last three months, insiders have sold 83,494 shares of company stock valued at $2,119,722. 17.20% of the stock is currently owned by corporate insiders.
CarGurus Company Profile
CarGurus, Inc operates an online automotive platform for buying and selling vehicles in the United States and internationally. It operates through two segments, U.S. Marketplace and Digital Wholesale. The company provides an online automotive marketplace where customers can search for new and used car listings from its dealers and sell their car to dealers and other consumers; and paid listings subscriptions for enhanced access to its marketplace that connects dealers to a large audience of informed and engaged consumers.
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