CarGurus (CARG)

• Market cap: $3.71B
• 1 day: 1.62%
• 5 days: -0.72%
• 1 month: 12.86%
• 3 months: 25.37%
• 6 months: 49.69%
• Year to date: 51.91%
• 1 year: 70.47%
• 5 years: -11.01%
• 10 years: 29.55%
• Sector: Information Technology
• Industry: Computer Processing & Data Preparation

About: CarGurus Inc is a company that acts as an online automotive marketplace connecting buyers and sellers of new and used cars. The company provides three types of marketplace Listing products, Restricted Listings, and Enhanced or Featured Listing through which it offers real-time and historical data analyzing the connections and pricing analysis. The listing platforms offer auto manufacturers and others to buy advertising on the company's site and target consumers based on the make, model, and zip code of the cars. The company operates through two segments namely U.S. Marketplace and Digital Wholesale. It generates majority of revenue from the U.S. Marketplace.

Employees: 1,343

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

122% more call options, than puts

Call options by funds: $12M | Put options by funds: $5.44M

55% more first-time investments, than exits

New positions opened: 59 | Existing positions closed: 38

23% more repeat investments, than reductions

Existing positions increased: 107 | Existing positions reduced: 87

11% more capital invested

Capital invested by funds: $2.22B [Q2] → $2.48B (+$255M) [Q3]

8% more funds holding

Funds holding: 259 [Q2] → 280 (+21) [Q3]

0% more funds holding in top 10

Funds holding in top 10: 6 [Q2] → 6 (+0) [Q3]

1.8% less ownership

Funds ownership: 96.31% [Q2] → 94.51% (-1.8%) [Q3]

Research analyst outlook

11 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $27 26% downside
• Avg. target: $38 6% upside
• High target: $44 23% upside

11 analyst ratings

• positive: 9 82%
• neutral: 2 18%
• negative: 0 0%

RBC Capital Brad Erickson 74% 1-year accuracy 26 / 35 met price target	18% upside $42	Outperform Maintained	11 Nov 2024
B. Riley Securities Naved Khan 0 / 0 met price target	12% upside $40	Buy Maintained	11 Nov 2024
JMP Securities Nicholas Jones 68% 1-year accuracy 17 / 25 met price target	15% upside $41	Market Outperform Maintained	11 Nov 2024
Needham Chris Pierce 0 / 0 met price target	9% upside $39	Buy Maintained	8 Nov 2024
JP Morgan Rajat Gupta 0 / 0 met price target	12% upside $40	Overweight Maintained	8 Nov 2024