Earnings Preview: CarGurus

CarGurus (NASDAQ:CARG) is preparing to release its quarterly earnings on Thursday, 2024-11-07. Here's a brief overview of what investors should keep in mind before the announcement.

Analysts expect CarGurus to report an earnings per share (EPS) of $0.42.

Investors in CarGurus are eagerly awaiting the company's announcement, hoping for news of surpassing estimates and positive guidance for the next quarter.

It's worth noting for new investors that stock prices can be heavily influenced by future projections rather than just past performance.

Performance in Previous Earnings

Last quarter the company beat EPS by $0.08, which was followed by a 20.27% increase in the share price the next day.

Here's a look at CarGurus's past performance and the resulting price change:

Quarter

Q2 2024

Q1 2024

Q4 2023

Q3 2023

EPS Estimate

0.33

0.28

0.34

0.26

EPS Actual

0.41

0.32

0.35

0.34

Price Change %

20.0%

9.0%

-2.0%

4.0%

CarGurus Share Price Analysis

Shares of CarGurus were trading at $31.75 as of November 05. Over the last 52-week period, shares are up 75.56%. Given that these returns are generally positive, long-term shareholders are likely bullish going into this earnings release.

Analyst Observations about CarGurus

Understanding market sentiments and expectations within the industry is crucial for investors. This analysis delves into the latest insights on CarGurus.

CarGurus has received a total of 11 ratings from analysts, with the consensus rating as Buy. With an average one-year price target of $31.32, the consensus suggests a potential 1.35% downside.

Analyzing Ratings Among Peers

The below comparison of the ...