CARG - CarGurus, Inc.

NasdaqGS - NasdaqGS Real Time Price. Currency in USD
+0.30 (+1.15%)
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Performance Outlook
  • Short Term
    2W - 6W
  • Mid Term
    6W - 9M
  • Long Term
Previous Close26.00
Bid22.10 x 1000
Ask26.79 x 800
Day's Range26.13 - 27.05
52 Week Range14.25 - 40.91
Avg. Volume1,893,684
Market Cap2.963B
Beta (5Y Monthly)2.03
PE Ratio (TTM)71.08
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
Fair Value is the appropriate price for the shares of a company, based on its earnings and growth rate also interpreted as when P/E Ratio = Growth Rate. Estimated return represents the projected annual return you might expect after purchasing shares in the company and holding them over the default time horizon of 5 years, based on the EPS growth rate that we have projected.
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31% Est. Return
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    CarGurus, Inc. (CARG) Q1 2020 Earnings Call Transcript

    With me on the call today is Langley Steinert, CarGurus' founder and chief executive officer; Jason Trevisan, chief financial officer and president, international; and Sam Zales, president and chief operating officer. During the call, we will make statements regarding our business that may be considered forward-looking within applicable securities laws, including statements concerning our outlook for the second quarter and full year 2020 and management's expectations for our future financial and operational performance, our business growth and international strategies, the impact of the COVID-19 pandemic on our business and financial results and other statements regarding our plans, prospects and expectations.

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(CARG)CarGurus released its Q4 earnings report on February 14, and if the largest online auto marketplace in the US was expecting some Valentines love from the Street, it was sorely disappointed. Despite beating Street estimates for both the top and bottom-line, investors jumped out of the car(g) as shares fell following the earnings call.So, what got investors so spooked? Simple: fiscal 2020 guidance came in below Street expectations. Analysts were looking for $163.6 million for the year, while management expects revenue to come in between $156.5 million and $159.5 million. The outlook for earnings didn’t impress the Street, either. CARG expects EPS of between $0.50 to $0.55 in 2020, significantly below analysts' estimates of $0.66 per share.Management explained it expects flat growth in its advertising segment as it makes adjustments to the CarGurus website, intentionally reducing its ad load. Additional headwinds due to the shift from desktop to mobile will also affect impressions and CPMS (cost per mile). It doesn’t help that the recent acquisition of Autolist has further impacted operating income for the year, which was compressed by $7.5 million due the outlay.Despite the sell-off, Oppenheimer’s Jed Kelly thinks CarGurus’ platform is “still best positioned for share gains.”Kelly wrote, “We believe CARG’s proprietary valuation technology and clean UX are creating sustainable traffic advantages, which, in our view, are evolving into a leading marketing platform for US car dealers. Furthermore, international expansion offers a large opportunity based on CARG executing a similar playbook that disrupted legacy US players with a decade's head-start. All in, we believe the company is well positioned to gain incremental share of dealer advertising budgets, where the company is single-digit percentage of its ~$7–8 billion US TAM.”The 5-star analyst maintains an Outperform rating on CARG shares, though the disappointing print caused him to reduce his price target, from $48 to $36. The new figure still indicates possible upside of a considerable 30%. (To watch Kelly’s track record, click here)William Blair’s Ralph Schackart is a fellow bull. The 5-star analyst noted, “Historically, management has been conservative—initial outlooks for 2018 and 2019 actual revenues were 13% and 5% above initial revenue guidance at the midpoint, respectively. While investors will take some time to digest the flat advertising revenue in 2020 vs. 2019, we think these changes are necessary to optimize the website with the goal of increased conversion for dealers. To give some perspective on conservatism, we are modeling about 10% AARSD growth in 2020, or about half its 2019 growth.” Schackart, accordingly, maintains an Outperform rating on CarGurus, though hasn’t set a price target. (To watch Schackart’s track record, click here)Looking at the consensus breakdown, 4 Buys and 2 Holds received over the last three months add up to a Moderate Buy consensus rating. Additionally, based on the $46.50 average price target, shares could surge by 86% in the next twelve months. (See CarGurus' price targets and analyst ratings on TipRanks)LivePerson (LPSN)Mirroring CarGurus’ recent travails almost to a T, LivePerson’s recently released 4Q19 results have sent the stock stumbling down by 25%. If that wasn’t similar enough to CarGurus’ fortunes, then the reason for investors rushing to the exit is identical, too.The messaging-technology company’s generally solid report was hampered by weak 1Q20 guidance; LivePerson forecasts revenues of $77.5 million to $78.5 million, below the Street’s estimate of $80.4 million.Seasonally slower trends in the company’s gainshare business, in addition to elevated corporate expenses in 1Q20 have been cited as reasons for the low quarterly forecast. Management anticipates 1Q20 will represent the bottom for both revenue growth and adjusted EBITDA, with it expecting steady growth acceleration in 2H20.LivePerson’s growth over the last five years has been impressive, with the share price more than tripling during the period. Although the recent disappointing guidance led to a sell-off, the Q4 report had some impressive figures, too; LivePerson signed 149 deals in the quarter, up 20.2% year-over-year. This gain was driven by a mix of new and existing customer contracts.The latest pullback hasn’t dampened B.Riley FBR analyst Zach Cummins’ enthusiasm. Cummins recommends “investors take advantage of the expected weakness," as the analyst believes LivePerson’s “accelerated growth story remains on track.”Cummins added, “For our model, we are raising our FY20 and FY21 revenue estimates, but we are lowering our adjusted EBITDA estimates to reflect the increasing product investments. While these elevated investments do raise some concerns, the growth story remains on track in FY20 and is ahead of expectations in FY21, which should drive further operating leverage in the model in 2H20 as management is targeting the rule of 40 on quarterly basis in the next 12-18 months.”To this end, Cummins reiterated a Buy rating on LPSN along with a $51 price target, implying potential upside of a hefty 56%. 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The tool factors in analyst consensus ratings, price targets, and stock analysis, amongst others, to help us see what the future might have in store for the tickers at hand. It turns out that in addition to RBC’s recommendations, all 3 currently have a Strong Buy consensus rating and, furthermore, all offer upside potential of more than 20%. Let's take a closer look.GoDaddy (GDDY)Investors are constantly in search of growth stocks. GoDaddy has proven to be a successful growth story since going public in 2015. Although it only exhibited modest gains in 2019, it is still up by 175% since its initial listing.GoDaddy provides individuals and businesses with everything they need to get a website up and running – from domains and web hosting to design and templates. Additionally, it offers cloud-based services, online storage and bookkeeping tools, amongst other offerings. The domain business makes up the bulk of sales, providing 46%, while hosting makes up 38% of revenue. 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CarGurus will be in the spotlight when it reports fourth-quarter results on February 13.RBC’s Mark Mahaney forecasts Q4 revenue of $155 million, a touch above the Street’s estimate of $154.6 million and the company’s guidance of $152.2 million. The analyst forecasts Non-GAAP EPS of $0.14, slightly more than the Street’s $0.13 and beating the high-end guidance of $0.12.Last week, CARG announced it had acquired car shopping platform Autolist. The innovative platform has over 1.3 million monthly visitors to its website, while its mobile app numbers 400,000 visitors a month. The acquisition is timely, as Mahaney thinks the debate over CarGurus’ future potential centers around its growth curve. The 5-star analyst argues CARG has enough CGIs (Growth Curve Initiatives) in both its products (digital marketing solutions for dealers, delivery, consumer finance and P2P) and markets (Canada & Western Europe) to stabilize sales growth and eventual acceleration.Mahaney said, “We continue to see CARG as the leading marketplace in the U.S. Online Used Car segment, attacking a market that is approximately $14B (U.S. Dealer annual digital marketing spend). The evidence appears strong that CARG has an attractive business model (90%+ Gross Margin, ramping EBITDA margins that we believe can reach 24% by ’22, and consistently positive & growing FCF for the past 4 years).”Accordingly, Mahaney reiterated an Outperform rating on CARG along with a price target of $50. Should the target be met, in addition to car keys, investors pockets will jingle with returns in the shape of 35%.On the Street, the current CarGurus action is a tad quiet, though positive all round. 3 Buy ratings add up to a Strong Buy consensus rating. The average price target is $52.33 and implies upside of a not inconsiderable 41%. (See CarGurus stock analysis on TipRanks)Etsy Inc (ETSY)From one online marketplace to another; Although we move from the noise and grease of the auto industry to something a little quieter and rustic in the vibe of Etsy. The company’s e-commerce platform specializes in a wide range of categories from toys and art to jewelry and clothing, but all have one thing in common - a vintage, handcrafted and homemade flavor.In a somewhat similar manner to both previous tickers, ETSY investors have been concerned with growth. The company’s share price grew at a magnificent pace since its public listing midway through the last decade but pulled back in 2H19 as the growth curve showed signs of slowing down. Despite exhibiting a very healthy revenue increase, following Q3’s earnings call Etsy’s share price lost almost 16% due to relative growth fatigue compared to the prior year’s same period.Mahaney is a believer in the Etsy story. The 5-star analyst ranks Etsy highly and notes that 28% organic revenue growth in Q3 and low-to-mid-20% EBITDA margins are very positive figures.Mahaney said, “Our fundamental Long thesis on Etsy remains intact—a large TAM, a loyal community of sellers/buyers, new marketing initiatives and several GCIs in the form of free shipping, Etsy Ads, Reverb acquisition, product improvements, and international markets, which give us conviction that the company should be able to sustain healthy growth rates… While there may currently be several moving pieces at Etsy, we believe management is taking the right steps to drive overall health and growth of the platform.”So, bottom-line, what does it mean? It means Etsy keeps its Outperform rating from RBC, along with the price target of $68. The figure implies possible upside of 35%.The Street is no less enthusiastic. 11 Buys and only 1 Sell add up to a Strong Buy consensus rating. With an average price target of $63.82, Etsy investors could be adding gains of 26% to their vintage wallets over the next 12 months. (See ETSY stock analysis on TipRanks)

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The strong sales performance has pushed the stock up 38% this year, well above the S&P’s 29% gain.Stephens analyst Daniel Imbro reviewed ELY earlier this month, and highlighted that the company’s new Mavrik metalwood line of clubs was approved by the USGA. He wrote, “Pricing and availability are undisclosed … we expect additional details as we get closer to the PGA Show… Given Callaway's recent success leading innovation in the metalwoods category, we expect this to be a focal point heading into 2020.” Imbro puts a Buy rating on ELY shares with a $25 price target. His target implies an upside of 19% to the stock. (To watch Imbro’s track record, click here)Callaway’s Strong Buy consensus rating is unanimous. A total of 6 market analysts have put a positive spin on this stock recently. Shares are selling for $21.05, and the average price target of $25.58 suggest a 22% upside potential for the stock. (See Callaway stock analysis at TipRanks) See also: Cowen’s 3 Stock Choices for 2020Funko, Inc. (FNKO)Some people play golf for a hobby, and others get into collectibles. Funko caters to that second group. The company manufactures and distributes licensed pop culture products – bobble heads and vinyl figurines are its best-known products, but it also makes action figures, headphones, lamps, branded USB keys, and plushies. Basically, Funko cashes in on nostalgia – to the tune of $686 million in sales for fiscal year 2018.Funko’s cool spot in the toy and collectible market has netted it a cool profit on the financial end. The Q3 earnings, the company’s most recent, showed a definite beat on EPS, based on strong revenues. At the top line, total sales of $223.3 million were above the estimated $220.4 million – and the bottom-line earnings did even better. EPS came in at 38 cents, well above the forecasted 32 cents.Guidance, however, just missed the estimates. The company estimated between $840 million to $850 million for Q4, but Wall Street was expecting $848.5 million. It wasn’t a big miss, and the company’s number is still robust, but shares slid 16% after the news.Even with that share price slip, the stock is still up 23% this year. And – Piper Jaffray analyst Erinn Murphy sees the lower share price as a buying opportunity. In her November comments on the stock, written after meeting with management, Murphy wrote, “Funko remains one of the most disruptive consumer products companies. We are encouraged to see several initiatives to diversify the revenue streams…” Murphy’s $24 price target indicates a strong 49% upside, more than enough to justify a Buy rating. (To watch Murphy’s track record, click here)Murphy is just the most recent analyst to give FNKO a thumbs up. The stock has received 4 Buy ratings in recent weeks, along with 1 Hold, giving it a Strong Buy from the analyst consensus. At $26.20, the average price target suggests a 62% upside premium from the $16.13 share price. (See Funko stock analysis at TipRanks) CarGurus, Inc. (CARG)Every guy loves his car. And CarGurus exists to pair up people with the right vehicles. For 13 years, CarGurus has been a leading online research and shopping site for the automotive market, connecting buyers and sellers of new and used cars.A strong economy and rising wages have helped the company’s overall position, and in Q3, CARG reported a 26% year-over-year revenue gain. The top-line number was a robust $150.5 million. This supported a strong EPS of 14 cents per share, a solid 40% above the estimates. It was the fourth quarter in a row that CARG had beaten the EPS and revenue forecasts.Growth like that is sure to spark interest from top analysts, and in CARG’s case, it has. Mark Mahaney, 5-star analyst with RBC Capital, reviewed the stock after the earnings report and reiterated his Buy rating on the shares.Mahaney took a long view on CARG, and said in a detailed report, “We still see CARG as the leading marketplace in the U.S. Online Used Car segment, attacking a market that is approximately $14B. The evidence is strong that CARG has an attractive business model… we believe the company has enough GCIs (Growth Curve Initiatives) … so that Revenue Growth can sometime in the next 9-15 months stabilize and then potentially accelerate.” While he did reduce the price target, at $50, shares could still surge 37% in the next twelve months. (To watch Mahaney’s track record, click here)CARG has gotten love from 3 analysts recently, giving the stock a unanimous 3-vote Strong Buy consensus rating. Shares sell for $36.63, and the $52.33 average price target puts the upside potential at 43%. (See CarGurus stock analysis at TipRanks) Check out these 5 ‘Strong Buy’ stocks that top Wall Street analysts recommend.

  • Is CarGurus, Inc. (CARG) A Good Stock To Buy?
    Insider Monkey

    Is CarGurus, Inc. (CARG) A Good Stock To Buy?

    We are still in an overall bull market and many stocks that smart money investors were piling into surged through the end of November. Among them, Facebook and Microsoft ranked among the top 3 picks and these stocks gained 54% and 51% respectively. Hedge funds' top 3 stock picks returned 41.7% this year and beat […]

  • With move to Boston, Cambridge tech firm to grow HQ by 50%
    American City Business Journals

    With move to Boston, Cambridge tech firm to grow HQ by 50%

    CarGurus Inc. is nearly doubling its headquarters in a move to Boston from Cambridge, with an agreement to grow at the future 1001 Boylston Street tower. Samuels for years had partnered with fellow developer Weiner Ventures to jointly develop two air-rights parcels, but eventually broke off and tackled each project separately.

  • How Does CarGurus, Inc. (NASDAQ:CARG) Affect Your Portfolio Volatility?
    Simply Wall St.

    How Does CarGurus, Inc. (NASDAQ:CARG) Affect Your Portfolio Volatility?

    If you own shares in CarGurus, Inc. (NASDAQ:CARG) then it's worth thinking about how it contributes to the volatility...

  • LKQ or CARG: Which Is the Better Value Stock Right Now?

    LKQ or CARG: Which Is the Better Value Stock Right Now?

    LKQ vs. CARG: Which Stock Is the Better Value Option?

  • CarGurus: When to Rev It Up and Go Long

    CarGurus: When to Rev It Up and Go Long

    During Monday night's Lightning Round segment of Mad Money one caller asked about CarGurus, Inc. . In the daily bar chart of CARG, below, we can see that prices have rallied sharply since October and the pattern of lower highs from February has been broken. The strangest signal on this chart is the fact that the On-Balance-Volume (OBV) line has been rising since late May and now stands at a new high.

  • Surging Earnings Estimates Signal Upside for CarGurus (CARG) Stock

    Surging Earnings Estimates Signal Upside for CarGurus (CARG) Stock

    CarGurus (CARG) shares have started gaining and might continue moving higher in the near term, as indicated by solid earnings estimate revisions.