RBC Capital Sticks to Its Buy Rating for CarGurus (CARG)

RBC Capital analyst Brad Erickson maintained a Buy rating on CarGurus yesterday and set a price target of $40.00.

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Erickson covers the Communication Services sector, focusing on stocks such as Reddit Inc Class A, Alphabet Class A, and Meta Platforms. According to TipRanks, Erickson has an average return of 21.4% and a 56.53% success rate on recommended stocks.

CarGurus has an analyst consensus of Moderate Buy, with a price target consensus of $41.75.

Based on CarGurus’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $238.7 million and a net profit of $44.72 million. In comparison, last year the company earned a revenue of $231.36 million and had a net profit of $22.51 million

Based on the recent corporate insider activity of 134 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of CARG in relation to earlier this year.