CarGurus Inc (CARG) Received its Third Buy in a Row

After Benchmark Co. and Oppenheimer gave CarGurus Inc (NASDAQ: CARG) a Buy rating last month, the company received another Buy, this time from SunTrust Robinson. Analyst Naved Khan maintained a Buy rating on CarGurus Inc today and set a price target of $52. The company’s shares opened today at $39.09.

Khan commented:

“We believe that CarGurus’ rising site traffic/connection volumes, compelling dealer ROI and slew of new product launches should help drive strong growth in AARSD over the N/M term, with scope for meaningful margin improvement over time.”

According to TipRanks.com, Khan is a 5-star analyst with an average return of 19.9% and a 72.5% success rate. Khan covers the Technology sector, focusing on stocks such as Wix.com Ltd, Yext Inc, and TrueCar.

Currently, the analyst consensus on CarGurus Inc is a Strong Buy with an average price target of $52.33, representing a 33.9% upside. In a report issued on March 1, Oppenheimer also assigned a Buy rating to the stock with a $55 price target.

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CarGurus Inc’s market cap is currently $4.38B and has a P/E ratio of 75.24. The company has a Price to Book ratio of 22.54.

Based on the recent corporate insider activity of 346 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CARG in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

Cargurus, Inc. engages in the provision of online auto shopping. It offers proprietary technology, search algorithms, and innovative data analytics to analyze new and used car listings. The firm operates through the following segments: United States and International.

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