Needham analyst Chris Pierce maintains $CarGurus (CARG.US)$ with a buy rating, and adjusts the target price from $27 to $39.
According to TipRanks data, the analyst has a success rate of 33.6% and a total average return of -18.1% over the past year.
Furthermore, according to the comprehensive report, the opinions of $CarGurus (CARG.US)$'s main analysts recently are as follows:
CarGurus' Q3 outcomes revealed a robust outperformance on EBITDA, continuing its streak of exceeding consensus EBITDA projections for the eighth quarter in a row. The company's notable financial performance is being attributed to vigorous marketplace revenue growth, underscoring the effectiveness of CarGurus' product development efforts over the recent years.
The company reported another impressive quarter, and the guidance provided by management was strong. Analysts note a continued appreciation for CarGurus's capacity to increase market share while simultaneously achieving significant margin growth and producing substantial cash flow.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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