CARG Stock Recent News

CAMBRIDGE, Mass., April 18, 2024 (GLOBE NEWSWIRE) -- CarGurus, Inc. (Nasdaq: CARG), the No. 1 visited digital auto platform for shopping, buying, and selling new and used vehicles1, announced it will issue a press release reporting financial results for the first quarter ended March 31, 2024, after the close of the market on May 9, 2024.

CarGurus is a solid turnaround name that is insulated from market volatility and has a reasonable valuation. The company is the #1 site for used car research in the U.S. and has seen re-accelerating growth and strong traffic results. Improved profitability in its wholesale subsidiary, CarOffer, has substantially lifted the stock's adjusted EBITDA profile.

Through the past several months, buying a car — used or new — has been, to put it mildly, out of reach. Inflation has run rampant.

Some businesses could soon see the bullish side effects of a resilient consumer amongst the pretext of potential interest rate cuts coming this year from the FED. According to the FedWatch tool at the CME Group NASDAQ: CME, these pivots could be coming as soon as May of this year.

CarGurus, Inc. (NASDAQ:CARG) Q4 2023 Earnings Conference Call February 26, 2024 5:00 PM ET

The headline numbers for CarGurus (CARG) give insight into how the company performed in the quarter ended December 2023, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

CarGurus Inc. shares fell more than 11% in the extended session Monday after investors looked past a better-than-expected quarter for the online car-selling platform to zero in on weaker current-quarter guidance.

Beyond analysts' top -and-bottom-line estimates for CarGurus (CARG), evaluate projections for some of its key metrics to gain a better insight into how the business might have performed for the quarter ended December 2023.

CAMBRIDGE, Mass., Feb. 01, 2024 (GLOBE NEWSWIRE) -- CarGurus, Inc. (Nasdaq: CARG), the No. 1 visited digital auto platform for shopping, buying, and selling new and used vehicles1, announced it will issue a press release reporting financial results for the fourth quarter and fiscal year ended December 31st, 2023, after the close of the market on February 26th, 2024.

CarGurus is experiencing a return to accelerating growth rates in its marketplace business, which is a high-margin source of revenue. The company has stabilized its wholesale arm and profits are around breakeven despite a smaller scale. CarGurus' improving metrics include an increase in paid dealer counts, higher revenue per paying dealer, and an 8% growth in marketplace revenue.