CarGurus, Inc. operates an online automotive marketplace connecting buyers and sellers of new and used cars in the United States and internationally. The company provides consumers an online automotive marketplace where they can search for new and used car listings from its dealers, as well as sell their car in the United States marketplace. Its marketplace connects dealers to a large audience of informed and engaged consumers. The company operates online marketplaces under the CarGurus brand in Canada and the United Kingdom; and the Autolist and PistonHeads online marketplaces as independent brands in the United States and the United Kingdom. CarGurus, Inc. was founded in 2005 and is headquartered in Cambridge, Massachusetts.
IPO Year: 2017
Exchange: NASDAQ
Website: cargurus.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 6/7/2024 | $30.00 | Mkt Perform → Mkt Outperform | JMP Securities |
| 2/27/2024 | $22.00 → $24.00 | Buy | Needham |
| 9/15/2023 | $21.00 | Neutral | UBS |
| 7/20/2023 | $28.00 | Buy | B. Riley Securities |
| 6/27/2023 | $29.00 | Overweight | JP Morgan |
| 2/16/2023 | $12.00 | Neutral → Underweight | Piper Sandler |
| 12/13/2022 | Neutral | Citigroup | |
| 6/30/2022 | Mkt Perform | JMP Securities | |
| 6/21/2022 | $40.00 → $33.00 | Buy | BTIG Research |
| 3/10/2022 | $48.00 → $56.00 | Outperform | RBC Capital |
BOSTON, Nov. 12, 2024 (GLOBE NEWSWIRE) -- CarGurus, Inc. (NASDAQ:CARG), the No. 1 visited digital auto platform for shopping, buying, and selling new and used vehicles1, today announced that Elisa Palazzo, Chief Financial Officer, is scheduled to participate in a fireside chat at RBC's 2024 Global Technology, Internet, Media and Telecommunications Conference on Tuesday, November 19, 2024 at 4:00 PM ET. A webcast of the fireside chat will be accessible from the Investor Relations page of the company's website at https://investors.cargurus.com beginning at the time indicated above, and an archive of the presentation will be available there for 30 days following the event. About CarGurus, I
Q3'24 Marketplace revenue further accelerated to 15% YoY Consolidated GAAP Net Income of $22.5 million1, up 19% YoY; Non-GAAP Consolidated Adjusted EBITDA of $64.9 million, up 33% YoY CarGurus' Board of Directors authorized $200.0 million share repurchase program for fiscal year 2025 BOSTON, Nov. 07, 2024 (GLOBE NEWSWIRE) -- CarGurus, Inc. (NASDAQ:CARG), the No. 1 visited digital auto platform for shopping, buying, and selling new and used vehicles*, today announced financial results for the third quarter ended September 30, 2024. "We are proud of our third quarter results as our Marketplace revenue growth further accelerated, and we leveraged our cost base to drive operating efficienc
BOSTON, Nov. 04, 2024 (GLOBE NEWSWIRE) -- CarGurus (NASDAQ:CARG), the fastest-growing automotive shopping site in Canada1, today introduced a new digital retail solution that powers more seamless and efficient connections between dealers and purchase-ready shoppers in Canada. CarGurus Digital Deal enables consumers to start their financing application online for eligible new and used vehicles, book an appointment, and start a trade-in before completing the process at the dealership. "By allowing car shoppers to handle more steps from the comfort of home, CarGurus Digital Deal helps facilitate a more seamless online to in-store experience that benefits both sides of the transaction," said
BOSTON, Oct. 17, 2024 (GLOBE NEWSWIRE) -- CarGurus, Inc. (NASDAQ:CARG), the No. 1 visited digital auto platform for shopping, buying, and selling new and used vehicles1, announced it will issue a press release reporting financial results for the third quarter ended September 30, 2024, after the close of the market on November 7, 2024. CarGurus will host a conference call and live webcast to discuss those financial results for investors and analysts at 5:00 p.m. Eastern Time on November 7, 2024. To access the conference call, dial (844) 834-0648 for the U.S. or Canada, or (412) 542-4103 for international callers. The webcast will be available live on the Investors section of the company's
Known for his confidence and ability to deliver under pressure, the former NFL quarterback and auto enthusiast is coaching today's drivers in new digital campaign BOSTON, Oct. 15, 2024 (GLOBE NEWSWIRE) -- CarGurus (NASDAQ:CARG), the No. 1 visited digital auto platform for shopping, buying, and selling new and used vehicles1, today launched a new campaign with NFL legend Drew Brees focused on helping today's drivers feel even more confident and prepared during the car buying and selling process. The "Keys to Success" campaign taps Brees—who is known for his ability to deliver under pressure both on and off the field—to empower all drivers in getting "game day-ready" to feel assured t
Analysis of third quarter trends also highlights hybrid demand overtaking electric vehicles, the ongoing balance between new car inventory and sales, and more BOSTON, Oct. 08, 2024 (GLOBE NEWSWIRE) -- CarGurus, Inc. (NASDAQ:CARG), the No. 1 visited digital auto platform for shopping, buying, and selling new and used vehicles1, today released its Quarterly Review for Q3 2024, identifying areas of opportunity as the consumer need for affordability becomes more pronounced. "As we near the end of 2024, it's clear that consumers are speaking loudly with their wallets. After years of post-pandemic revenge spending, consumers are becoming more prudent as they face economic uncertainty, still-hi
Hanson brings more than 20 years of experience specializing in organizational design, employee engagement, and workplace culture CAMBRIDGE, Mass., Sept. 16, 2024 (GLOBE NEWSWIRE) -- CarGurus (NASDAQ:CARG), the No. 1 visited digital auto platform for shopping, buying, and selling new and used vehicles1, today announced that Jennifer Hanson has been appointed Chief People Officer (CPO), effective September 30, 2024. With more than 20 years of experience in human resources (HR), employee benefits, and law, Hanson will lead CarGurus' People and Talent team in their work advancing organizational strategies, talent development, and engagement to drive business performance and continued innova
Growth leader brings nearly 20 years of experience driving customer sales, service, and partnership strategy for online marketplace businesses CAMBRIDGE, Mass., Sept. 03, 2024 (GLOBE NEWSWIRE) -- CarGurus (NASDAQ:CARG), the No. 1 visited digital auto platform for shopping, buying, and selling new and used vehicles1, today announced the appointment of Mike O'Hanlon as Chief Revenue Officer (CRO), effective September 3, 2024. With deep experience driving customer growth and retention strategies for online marketplace and software as a service (SaaS) businesses, O'Hanlon will lead CarGurus' Sales and Service teams to support growth objectives and priorities to nurture deeper relationships wi
CAMBRIDGE, Mass., Aug. 29, 2024 (GLOBE NEWSWIRE) -- CarGurus, Inc. (NASDAQ:CARG), the No. 1 visited digital auto platform for shopping, buying, and selling new and used vehicles1, today announced that Elisa Palazzo, Chief Financial Officer, is scheduled to participate in a fireside chat at Citi's 2024 Global TMT Conference on Thursday, September 5, 2024 at 3:00 PM ET. A webcast of the fireside chat will be accessible from the Investor Relations page of the company's website at https://investors.cargurus.com beginning at the time indicated above, and an archive of the presentation will be available there for 30 days following the event. About CarGurus, Inc. CarGurus (NASDAQ:
Two new award categories announced in celebration of the program's milestone year CAMBRIDGE, Mass., Aug. 14, 2024 (GLOBE NEWSWIRE) -- CarGurus (NASDAQ:CARG), the No. 1 visited digital auto platform for shopping, buying, and selling new and used vehicles1, today released its 10th annual Top Dealer Awards2 recognizing dealerships that provide shoppers with exceptional service, guidance, and support. To commemorate the program's milestone anniversary, CarGurus has introduced two new award categories showcasing dealer commitment to customer satisfaction in today's digital age. "It has been an honor over the past decade to celebrate the dealers that, like CarGurus, prioritize consumer trust,
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JMP Securities upgraded CarGurus from Mkt Perform to Mkt Outperform and set a new price target of $30.00
Needham reiterated coverage of CarGurus with a rating of Buy and set a new price target of $24.00 from $22.00 previously
UBS initiated coverage of CarGurus with a rating of Neutral and set a new price target of $21.00
B. Riley Securities initiated coverage of CarGurus with a rating of Buy and set a new price target of $28.00
JP Morgan initiated coverage of CarGurus with a rating of Overweight and set a new price target of $29.00
Piper Sandler downgraded CarGurus from Neutral to Underweight and set a new price target of $12.00
Citigroup resumed coverage of CarGurus with a rating of Neutral
JMP Securities resumed coverage of CarGurus with a rating of Mkt Perform
BTIG Research reiterated coverage of CarGurus with a rating of Buy and set a new price target of $33.00 from $40.00 previously
RBC Capital reiterated coverage of CarGurus with a rating of Outperform and set a new price target of $56.00 from $48.00 previously
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Hanson brings more than 20 years of experience specializing in organizational design, employee engagement, and workplace culture CAMBRIDGE, Mass., Sept. 16, 2024 (GLOBE NEWSWIRE) -- CarGurus (NASDAQ:CARG), the No. 1 visited digital auto platform for shopping, buying, and selling new and used vehicles1, today announced that Jennifer Hanson has been appointed Chief People Officer (CPO), effective September 30, 2024. With more than 20 years of experience in human resources (HR), employee benefits, and law, Hanson will lead CarGurus' People and Talent team in their work advancing organizational strategies, talent development, and engagement to drive business performance and continued innova
Growth leader brings nearly 20 years of experience driving customer sales, service, and partnership strategy for online marketplace businesses CAMBRIDGE, Mass., Sept. 03, 2024 (GLOBE NEWSWIRE) -- CarGurus (NASDAQ:CARG), the No. 1 visited digital auto platform for shopping, buying, and selling new and used vehicles1, today announced the appointment of Mike O'Hanlon as Chief Revenue Officer (CRO), effective September 3, 2024. With deep experience driving customer growth and retention strategies for online marketplace and software as a service (SaaS) businesses, O'Hanlon will lead CarGurus' Sales and Service teams to support growth objectives and priorities to nurture deeper relationships wi
CAMBRIDGE, Mass., Dec. 14, 2023 (GLOBE NEWSWIRE) -- CarGurus (NASDAQ:CARG), the No. 1 visited digital auto platform for shopping, buying, and selling new and used vehicles1, today announced the appointment of Ismail Elshareef as Chief Product Officer (CPO), effective February 1, 2024. With over 20 years of experience building highly engaging consumer transaction products and value-added solutions for small and midsize businesses (SMBs), Elshareef will lead CarGurus' product strategy and roadmap with a focus on driving value to consumers, dealers, and the overall business. "We believe Ismail's marketplace expertise across subscription and transaction-based models will play a critical r
CAMBRIDGE, Mass., Oct. 30, 2023 (GLOBE NEWSWIRE) -- CarGurus (NASDAQ:CARG), the No. 1 visited digital auto platform for shopping, buying, and selling new and used vehicles1, today announced the appointment of Elisa Palazzo as its Chief Financial Officer (CFO), effective December 4, 2023. Reporting to CarGurus Chief Executive Officer (CEO) Jason Trevisan, Palazzo will lead financial operations and strategy to support the company's goal to build a powerful transaction-enabled destination that supports the full lifecycle of a vehicle transaction. "Elisa's breadth of experience leading financial operations and investment strategy within the tech sector will be invaluable to our team as we c
Gupta brings product leadership and vision scaling global platforms to Board position with the nation's most visited automotive shopping site1 CAMBRIDGE, Mass., July 17, 2023 (GLOBE NEWSWIRE) -- CarGurus (NASDAQ:CARG), the No. 1 visited digital auto platform for shopping, buying, and selling new and used vehicles1, today announced the appointment of Manik Gupta to its Board of Directors and Audit Committee, effective July 14, 2023. Gupta brings nearly 25 years of experience in the technology sector, currently as the Corporate Vice President of Microsoft Teams, serving over 300 million users across enterprises, small and medium businesses (SMBs), consumers, and the developer ecosystem. Pri
CAMBRIDGE, Mass., July 27, 2022 (GLOBE NEWSWIRE) -- CarGurus, Inc. (NASDAQ:CARG), a multinational, online automotive platform for buying and selling vehicles, today announced it has hired Javier Zamora as its General Counsel. In this role, Zamora will report to CEO Jason Trevisan and will oversee the company's legal team. "I'm thrilled to welcome Javier to CarGurus," said Jason Trevisan, Chief Executive Officer at CarGurus. "He brings both extensive legal experience and a strong track record of leading diverse teams – and as CarGurus seeks to give people the power to reach their destination, Javier's leadership will play a key part in that journey." Zamora is taking the helm of CarGurus'
CAMBRIDGE, Mass., Dec. 09, 2021 (GLOBE NEWSWIRE) -- CarGurus, Inc. (NASDAQ:CARG), a multinational, online automotive platform for buying and selling vehicles, today announced it has hired Matt Quinn as its Chief Technology Officer. In this role, Quinn will report to Chief Executive Officer Jason Trevisan, and will oversee the company's entire engineering organization. He will focus on scaling the team and guiding the evolution of the company's technology platform as CarGurus fulfills its strategy of creating an end-to-end automotive transaction platform. "I am thrilled to welcome Matt to CarGurus," said Jason Trevisan, CEO at CarGurus. "As CarGurus seeks to give people the power to re
CAMBRIDGE, Mass., Nov. 16, 2021 (GLOBE NEWSWIRE) -- CarGurus, Inc. (NASDAQ:CARG), a multinational, online automotive platform for buying and selling vehicles, today announced a transition in its executive team with Sarah Welch stepping down and Dafna Sarnoff joining the company as Chief Marketing Officer. Dafna Sarnoff, a veteran marketing leader, will join CarGurus as CMO on December 8. Sarnoff has deep experience helping innovative companies achieve significant growth. Most recently, she led marketing and operations for the fast-growing, Boston-based consumer digital security company Aura. She previously led marketing for Intersection, a Google-backed experience-driven technology
CAMBRIDGE, Mass., June 16, 2021 (GLOBE NEWSWIRE) -- CarGurus, Inc. (NASDAQ:CARG), a leading global, online automotive marketplace, today announced the appointment of Yvonne Hao on June 15, 2021 to the company's Board of Directors and as a member of its Audit Committee. Since July 2019, Ms. Hao has been a Managing Director and Co-Founder of the private equity firm Cove Hill Partners. Prior to that, Ms. Hao was the COO and CFO of PillPack where she was instrumental in that company's successful sale to and integration with Amazon. "Yvonne is an accomplished leader with tremendous experience providing technology and consumer companies with operational guidance and I am honored to welcome her
ADDISON, Texas, May 21, 2021 (GLOBE NEWSWIRE) -- CarOffer, the fast-growing inventory acquisition innovator and part of the CarGurus network (NASDAQ:CARG), today shared it reached record-breaking levels of dealer enrollment on its automated instant wholesale vehicle trade platform. The CarOffer platform launched in August 2019 and has emerged to become a much-needed, simplified and efficient solution for dealers to acquire pre-owned inventory, especially in the face of a pandemic-fueled rise in pre-owned demand and new car chip shortages. Dealer enrollment in the platform, which enables dealers to buy and sell vehicles using real-time instant offers, totaled more than 1,400 new dealer roof
JMP Securities analyst Nicholas Jones reiterates CarGurus (NASDAQ:CARG) with a Market Outperform and maintains $30 price target.
6 analysts have expressed a variety of opinions on CarGurus (NASDAQ:CARG) over the past quarter, offering a diverse set of opinions from bullish to bearish. The following table summarizes their recent ratings, shedding light on the changing sentiments within the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 1 3 2 0 0 Last 30D 0 0 1 0 0 1M Ago 0 1 0 0 0 2M Ago 1 2 1 0 0 3M Ago 0 0 0 0 0 Analysts provide deeper insights through their assessments of 12-month price targets, revealing an average target of $27.25, a high estimate of $30.00, and a low estimate of $25.00. Surpassing the previou
Citigroup analyst Ronald Josey maintains CarGurus (NASDAQ:CARG) with a Neutral and raises the price target from $24 to $27.
In the last three months, 6 analysts have published ratings on CarGurus (NASDAQ:CARG), offering a diverse range of perspectives from bullish to bearish. The table below summarizes their recent ratings, showcasing the evolving sentiments within the past 30 days and comparing them to the preceding months. Bullish Somewhat Bullish Indifferent Somewhat Bearish Bearish Total Ratings 1 3 2 0 0 Last 30D 0 1 0 0 0 1M Ago 1 2 1 0 0 2M Ago 0 0 0 0 0 3M Ago 0 0 1 0 0 Providing deeper insights, analysts have established 12-month price targets, indicating an average target of $27.25, along with a high estimate of $30.00 and a low estimate of $25.00. This current average reflects an in
JMP Securities analyst Nicholas Jones upgrades CarGurus (NASDAQ:CARG) from Market Perform to Market Outperform and announces $30 price target.
DA Davidson analyst Tom White maintains CarGurus (NASDAQ:CARG) with a Neutral and raises the price target from $22 to $25.5.
JP Morgan analyst Rajat Gupta maintains CarGurus (NASDAQ:CARG) with a Overweight and raises the price target from $27 to $29.
RBC Capital analyst Brad Erickson maintains CarGurus (NASDAQ:CARG) with a Outperform and raises the price target from $26 to $27.
U.S. stocks were mostly higher, with the Dow Jones gaining over 100 points on Friday. Shares of Genpact Limited (NYSE:G) rose sharply during Friday's session after the company reported better-than-expected first-quarter financial results and raised its FY24 EPS range. Genpact posted adjusted earnings of 73 cents per share, beating market estimates of 68 cents per share. The company's quarterly sales came in at $1.13 billion versus expectations of $1.11 billion, according to data from Benzinga Pro. Genpact shares gained 6.8% to $34.26 on Friday. Here are some other big stocks recording gains in today's session. Novavax, Inc. (NASDAQ:NVAX) shares gained 139% to $10.73 after the
Q3'24 Marketplace revenue further accelerated to 15% YoY Consolidated GAAP Net Income of $22.5 million1, up 19% YoY; Non-GAAP Consolidated Adjusted EBITDA of $64.9 million, up 33% YoY CarGurus' Board of Directors authorized $200.0 million share repurchase program for fiscal year 2025 BOSTON, Nov. 07, 2024 (GLOBE NEWSWIRE) -- CarGurus, Inc. (NASDAQ:CARG), the No. 1 visited digital auto platform for shopping, buying, and selling new and used vehicles*, today announced financial results for the third quarter ended September 30, 2024. "We are proud of our third quarter results as our Marketplace revenue growth further accelerated, and we leveraged our cost base to drive operating efficienc
BOSTON, Oct. 17, 2024 (GLOBE NEWSWIRE) -- CarGurus, Inc. (NASDAQ:CARG), the No. 1 visited digital auto platform for shopping, buying, and selling new and used vehicles1, announced it will issue a press release reporting financial results for the third quarter ended September 30, 2024, after the close of the market on November 7, 2024. CarGurus will host a conference call and live webcast to discuss those financial results for investors and analysts at 5:00 p.m. Eastern Time on November 7, 2024. To access the conference call, dial (844) 834-0648 for the U.S. or Canada, or (412) 542-4103 for international callers. The webcast will be available live on the Investors section of the company's
Q2'24 Marketplace revenue accelerated to 14% YoY, marking the third consecutive quarter of double-digit growth Consolidated GAAP Net Loss of $68.7 million1; Non-GAAP Adjusted EBITDA of $55.6 million, up 23% YoY Repurchased $61 million worth of shares in 2Q'24, representing 2.5% of our outstanding capital CAMBRIDGE, Mass., Aug. 08, 2024 (GLOBE NEWSWIRE) -- CarGurus, Inc. (NASDAQ:CARG), the No. 1 visited digital auto platform for shopping, buying, and selling new and used vehicles*, today announced financial results for the second quarter ended June 30, 2024. "Our Marketplace business continued to accelerate, achieving the largest quarterly revenue increase since 2021, driven by higher a
CAMBRIDGE, Mass., July 18, 2024 (GLOBE NEWSWIRE) -- CarGurus, Inc. (NASDAQ:CARG), the No. 1 visited digital auto platform for shopping, buying, and selling new and used vehicles1, announced it will issue a press release reporting financial results for the second quarter ended June 30, 2024, after the close of the market on August 8, 2024. CarGurus will host a conference call and live webcast to discuss those financial results for investors and analysts at 5:00 p.m. Eastern Time on August 8, 2024. To access the conference call, dial (844) 826-3035 for the U.S. or Canada, or (412) 317-5195 for international callers. The webcast will be available live on the Investors section of the company'
1Q'24 Marketplace Revenue and QARSD growth accelerated further to 12% YoY and 14% YoY, respectively 1Q'24 Consolidated Net Income of $21.3 million, up 80% YoY; 1Q'24 Non-GAAP Adjusted EBITDA of $50.4 million, up 24% YoY Repurchased $81.1 million worth of shares in 1Q'24, representing 3.3% of our outstanding capital CAMBRIDGE, Mass., May 09, 2024 (GLOBE NEWSWIRE) -- CarGurus, Inc. (NASDAQ:CARG), the No. 1 visited digital auto platform for shopping, buying, and selling new and used vehicles1, today announced financial results for the first quarter ended March 31, 2024. "We are pleased with our first quarter results, as we achieved sustained marketplace revenue acceleration, driven by dou
CAMBRIDGE, Mass., April 18, 2024 (GLOBE NEWSWIRE) -- CarGurus, Inc. (NASDAQ:CARG), the No. 1 visited digital auto platform for shopping, buying, and selling new and used vehicles1, announced it will issue a press release reporting financial results for the first quarter ended March 31, 2024, after the close of the market on May 9, 2024. CarGurus will host a conference call and live webcast to discuss those financial results for investors and analysts at 5:00 p.m. Eastern Time on May 9, 2024. To access the conference call, dial (877) 451-6152 for the U.S. or Canada, or (201) 389-0879 for international callers. The webcast will be available live on the Investors section of the company's web
4Q'23 Marketplace Revenue further accelerated to 10% YoY, fastest pace in 10 quarters 4Q'23 Consolidated Net Loss of $(22.6) million, down 197% YoY; 4Q'23 Non-GAAP Consolidated Adjusted EBITDA of $61.2 million, up 120% YoY Repurchased $99.9 million worth of shares in 4Q'23 and a total of $204.1 million worth of shares in FY 2023 CAMBRIDGE, Mass., Feb. 26, 2024 (GLOBE NEWSWIRE) -- CarGurus, Inc. (NASDAQ:CARG), the No. 1 visited digital auto platform for shopping, buying, and selling new and used vehicles1, today announced financial results for the fourth quarter and year ended December 31, 2023. "We are extremely pleased with our performance, as our Marketplace business
CAMBRIDGE, Mass., Feb. 01, 2024 (GLOBE NEWSWIRE) -- CarGurus, Inc. (NASDAQ:CARG), the No. 1 visited digital auto platform for shopping, buying, and selling new and used vehicles1, announced it will issue a press release reporting financial results for the fourth quarter and fiscal year ended December 31st, 2023, after the close of the market on February 26th, 2024. CarGurus will host a conference call and live webcast to discuss those financial results for investors and analysts at 5:00 p.m. Eastern Time on February 26th, 2024. To access the conference call, dial (877) 451-6152 for the U.S. or Canada, or (201) 389-0879 for international callers. The webcast will be available live on the I
CAMBRIDGE, Mass., Dec. 04, 2023 (GLOBE NEWSWIRE) -- CarGurus (NASDAQ:CARG), the No. 1 visited digital auto platform for shopping, buying, and selling new and used vehicles1, today announced it has completed the acquisition of CarOffer, purchasing the remaining minority equity interests for $75 million. Zach Hallowell, a seasoned digital wholesale market leader, has assumed the role of Chief Executive Officer (CEO) for CarOffer. "With this transaction complete, we believe we are well-positioned to accelerate our momentum in delivering solutions that streamline and enhance the dealer-to-dealer and consumer-to-dealer transaction experience," said Hallowell. "I look forward to leading the int
CAMBRIDGE, Mass., Nov. 07, 2023 (GLOBE NEWSWIRE) -- CarGurus (NASDAQ:CARG), the No. 1 visited digital auto platform for shopping, buying, and selling new and used vehicles1, today announced it has entered into a definitive agreement to acquire the remaining minority equity interests in CarOffer for $75 million through an all-cash transaction. The deal is expected to close in December 2023 subject to customary closing conditions. CarGurus acquired a 51% stake in CarOffer in 2021 with the ability to buy the remaining equity interest over the next three years. The decision to expedite this purchase reflects CarGurus' goal to capture rising opportunities to strengthen operations between the t