B.Riley Financial analyst Naved Khan maintains $CarGurus (CARG.US)$ with a buy rating, and adjusts the target price from $30 to $40.
According to TipRanks data, the analyst has a success rate of 63.3% and a total average return of 19.8% 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 results demonstrated a robust outperformance on EBITDA, representing the eighth successive quarterly EBITDA outperformance relative to consensus. This performance is attributed to a significant increase in marketplace revenue, underscoring CarGurus' effective product development initiatives over recent years.
CarGurus' core marketplace has consistently shown impressive performance. Signs of progress are emerging from CarOffer, and a positive shift in Marketplace mix is contributing to margin improvements. Additionally, the company is experiencing an acceleration in capital returns.
The company recently reported a strong quarter and provided robust guidance. Analysts note a continued market share increase, coupled with significant margin expansion and substantial cash flow generation by CarGurus.
Note:
TipRanks, an independent third party, provides analysis data from financial analysts and calculates the Average Returns and Success Rates of the analysts' recommendations. The information presented is not an investment recommendation and is intended for informational purposes only.
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.
TipRanks provides a ranking of each analyst up to 5 stars, which is representative of all recommendations from the analyst. An analyst's past performance is evaluated on a scale of 1 to 5 stars, with more stars indicating better performance. The star level is determined by his/her total success rate and average return.
