Exploring Analyst Estimates for CarGurus (CARG) Q3 Earnings, Beyond Revenue and EPS
Wall Street analysts expect CarGurus (CARG) to post quarterly earnings of $0.27 per share in its upcoming report, which indicates a year-over-year increase of 28.6%. Revenues are expected to be $215.65 million, down 49.4% from the year-ago quarter.
The consensus EPS estimate for the quarter has undergone a downward revision of 1.8% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
Given this perspective, it's time to examine the average forecasts of specific CarGurus metrics that are routinely monitored and predicted by Wall Street analysts.
The consensus among analysts is that 'Revenue- Marketplace' will reach $174.73 million. The estimate suggests a change of +5.7% year over year.
Analysts forecast 'Revenue- Wholesale' to reach $20.46 million. The estimate suggests a change of -56.5% year over year.
The collective assessment of analysts points to an estimated 'Revenue- Product' of $20.83 million. The estimate indicates a change of -90.3% from the prior-year quarter.
Analysts' assessment points toward 'Paying Dealers - Total' reaching 30,963. The estimate is in contrast to the year-ago figure of 31,286.
The average prediction of analysts places 'Quarterly Average Revenue per Subscribing Dealer (QARSD) - Consolidated' at $5,251.95. The estimate is in contrast to the year-ago figure of $5,800.
The combined assessment of analysts suggests that 'Paying Dealers - U.S' will likely reach 24,104. Compared to the present estimate, the company reported 24,691 in the same quarter last year.
Based on the collective assessment of analysts, 'Paying Dealers - International' should arrive at 6,868. Compared to the current estimate, the company reported 6,595 in the same quarter of the previous year.
View all Key Company Metrics for CarGurus here>>>
CarGurus shares have witnessed a change of -1.3% in the past month, in contrast to the Zacks S&P 500 composite's -1.1% move. With a Zacks Rank #3 (Hold), CARG is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
CarGurus, Inc. (CARG) : Free Stock Analysis Report
