CarGurus (CARG) Gets a Buy from RBC Capital

RBC Capital analyst Brad Erickson maintained a Buy rating on CarGurus (CARG – Research Report) yesterday and set a price target of $27.00. The company’s shares closed yesterday at $22.28.

Erickson covers the Consumer Cyclical sector, focusing on stocks such as Carvana Co, Amazon, and Booking Holdings. According to TipRanks, Erickson has an average return of 18.9% and a 54.25% success rate on recommended stocks.

In addition to RBC Capital, CarGurus also received a Buy from BTIG’s Marvin Fong in a report issued yesterday. However, today, JMP Securities maintained a Hold rating on CarGurus (NASDAQ: CARG).

Based on CarGurus’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $223.12 million and a GAAP net loss of $17.91 million. In comparison, last year the company earned a revenue of $286.74 million and had a net profit of $24.79 million

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CarGurus (CARG) Company Description:

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. The United States segment derives revenues from marketplace subscriptions, advertising services, and other revenues from customers within the United States. The International segment includes the revenues from marketplace subscriptions, advertising services, and other revenues from customers outside of the United States. The company was founded by Langley Steinert in 2006 and is headquartered in Cambridge, MA.