Freedom Broker Reiterates Rating on CarGurus, Inc. $CARG
Key Points
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Freedom Broker reiterated its rating on CarGurus, Inc. ($CARG) to a "buy" rating in a recent research note and set a price target of $40, a 36.24% upside from the current price.
CarGurus, Inc. Stock Down 19.7%
Shares of CarGurus, Inc. ($CARG) traded around $29.36 on Saturday, down 19.7% for the day.
CarGurus, Inc. Earnings
Analysts Set New Price Targets
About CarGurus, Inc.
CarGurus, Inc. operates an online automotive platform for buying and selling vehicles in the United States and internationally. The company offers dealer subscription fees, advertising from auto manufacturers and other brand advertisers, and partnerships with financing services companies. It provides an online automotive marketplace that connects large audience of car shoppers with extensive network of dealers, anchoring integrated suite of products. It also offers Digital Deal which allows consumers the option to start their vehicle purchase process online for eligible listings; Dealership Mode which provides consumers with on-the-lot support during visits to participating dealers through the CarGurus app; Sell My Car Top Dealer Offers which allows dealers to make tailored trade-in offers; and IMV Scan enables dealers to scan a VIN using their smartphone to access IMV data; and PriceVantage, an advanced pricing software powered by machine learning that leverages real-time consumer demand. In addition, the company provides auto manufacturers and others advertiser products, such as brand reinforcement, category sponsorship, automobile segment exclusivity, and consumer segment exposure; Autolist, an online automotive marketplace through mobile applications and a website; and PistonHeads which is an automotive marketplace, auction platform, and editorial site for automotive enthusiasts. The company was formerly known as CarGurus LLC and changed its name to CarGurus, Inc. in June 2015. CarGurus, Inc. was founded in 2005 and is headquartered in Boston, Massachusetts.
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