CarGurus (NASDAQ:CARG) Price Target Raised to $38.00

08 May 2026, 14:04 by Teresa Graham · The Cerbat Gem

CarGurus (NASDAQ:CARG – Get Free Report) had its target price upped by JPMorgan Chase & Co. from $36.00 to $38.00 in a report issued on Friday,Benzinga reports. The firm currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 8.48% from the stock’s current price.

Other research analysts also recently issued reports about the stock. DA Davidson decreased their target price on shares of CarGurus from $37.50 to $33.50 and set a “neutral” rating on the stock in a research note on Friday, February 20th. BTIG Research decreased their target price on shares of CarGurus from $44.00 to $37.00 and set a “buy” rating on the stock in a research note on Friday, February 20th. UBS Group reaffirmed a “neutral” rating and issued a $37.00 target price on shares of CarGurus in a research note on Friday. Oppenheimer reduced their price objective on shares of CarGurus from $40.00 to $38.00 and set an “outperform” rating on the stock in a research report on Tuesday, February 24th. Finally, Royal Bank Of Canada reduced their price objective on shares of CarGurus from $40.00 to $34.00 and set an “outperform” rating on the stock in a research report on Friday, February 20th. Five equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $38.14.

Get Our Latest Stock Analysis on CarGurus

CarGurus Stock Performance

Shares of NASDAQ CARG traded down $3.13 during mid-day trading on Friday, hitting $35.03. The stock had a trading volume of 873,189 shares, compared to its average volume of 1,208,319. CarGurus has a 1 year low of $26.39 and a 1 year high of $39.42. The business has a 50 day moving average price of $34.59 and a two-hundred day moving average price of $34.63. The firm has a market cap of $3.33 billion, a P/E ratio of 22.59, a price-to-earnings-growth ratio of 1.40 and a beta of 1.28.

CarGurus (NASDAQ:CARG – Get Free Report) last issued its earnings results on Thursday, May 7th. The company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.56 by $0.02. CarGurus had a net margin of 16.60% and a return on equity of 47.50%. The company had revenue of $243.56 million for the quarter, compared to the consensus estimate of $243.12 million. During the same period in the previous year, the firm earned $0.46 earnings per share. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. CarGurus has set its Q2 2026 guidance at 0.570-0.640 EPS. Equities research analysts predict that CarGurus will post 2.06 EPS for the current fiscal year.

Insider Activity at CarGurus

In other CarGurus news, CMO Dafna Sarnoff sold 5,445 shares of the business’s stock in a transaction on Thursday, April 2nd. The shares were sold at an average price of $33.04, for a total transaction of $179,902.80. Following the transaction, the chief marketing officer directly owned 134,369 shares of the company’s stock, valued at approximately $4,439,551.76. The trade was a 3.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Jennifer Ladd Hanson sold 2,499 shares of the business’s stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of $35.61, for a total transaction of $88,989.39. Following the transaction, the insider directly owned 98,191 shares in the company, valued at approximately $3,496,581.51. The trade was a 2.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 12,852 shares of company stock valued at $431,053 in the last 90 days. 16.99% of the stock is owned by company insiders.

Institutional Trading of CarGurus

A number of hedge funds have recently modified their holdings of CARG. Royal Bank of Canada boosted its holdings in shares of CarGurus by 22.6% during the 1st quarter. Royal Bank of Canada now owns 75,072 shares of the company’s stock valued at $2,186,000 after buying an additional 13,834 shares in the last quarter. AQR Capital Management LLC boosted its holdings in shares of CarGurus by 25.4% during the 1st quarter. AQR Capital Management LLC now owns 25,946 shares of the company’s stock valued at $756,000 after buying an additional 5,259 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of CarGurus by 3.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,845 shares of the company’s stock valued at $1,889,000 after buying an additional 1,890 shares in the last quarter. Jane Street Group LLC boosted its holdings in shares of CarGurus by 113.0% during the 1st quarter. Jane Street Group LLC now owns 123,305 shares of the company’s stock valued at $3,592,000 after buying an additional 65,420 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in shares of CarGurus during the 2nd quarter valued at $87,000. Institutional investors own 86.90% of the company’s stock.

CarGurus News Summary

Here are the key news stories impacting CarGurus this week:

Positive Sentiment: Q1 results: EPS beat and adjusted profitability outperformed guidance — CarGurus reported $0.58 EPS vs. $0.56 consensus, and non‑GAAP adjusted EBITDA came in above the high end of guidance, supporting margin strength. GlobeNewsWire: Q1 Results
Positive Sentiment: Large share repurchases: management repurchased $175M of stock in Q1 (repurchases since Dec 2022 represent ~29% of shares outstanding), which is a strong capital‑return signal that can support the share price. GlobeNewsWire: Buybacks
Positive Sentiment: Analyst upgrade/target lift: Needham raised its price target from $37 to $43 and maintained a Buy rating, signaling analyst confidence in upside versus current levels. Benzinga / The Fly: Needham PT Raise
Neutral Sentiment: Q2 guidance roughly in line: management set Q2 EPS of $0.570–$0.640 (consensus ~$0.580) and revenue guidance $247–252M vs. consensus ~$249M — guidance is generally consistent with expectations but leaves a wide band. MarketBeat: Guidance & Call
Neutral Sentiment: Marketing/strategy initiatives: coverage highlights marketing pushes (NASCAR Canada partnership and Confidence Awards) that could help customer acquisition and brand awareness over time but are not immediate revenue levers. Yahoo Finance: NASCAR Canada Push
Negative Sentiment: GAAP net income decline and mixed investor reaction: GAAP net income from continuing operations fell ~23% YoY, and despite the beat, the stock pulled back after the release as investors digested the decline and guidance nuance. GlobeNewsWire: GAAP Net Income
Negative Sentiment: Market reaction & headlines: several outlets noted the stock dropped after results despite in‑line sales and the EPS beat, reflecting investor focus on near‑term guidance and GAAP metrics. MSN: Stock Drops

About CarGurus

(Get Free Report)

CarGurus, Inc operates an online automotive marketplace designed to connect buyers and sellers of new and used vehicles. Through its proprietary search engine and data-driven pricing tools, the platform enables consumers to compare listings, assess fair market values and locate local dealers offering competitive deals. CarGurus also provides detailed vehicle history reports, dealer reviews and financing options to streamline the car-shopping process for both private parties and franchised dealerships.