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The auto industry has been going through some serious changes. CarGurus stands at the new frontier.
Does CarGurus (CARG) have what it takes to be a top stock pick for momentum investors? Let's find out.
CarGurus (CARG) has been upgraded to a Zacks Rank #1 (Strong Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.
QFIN, SMFG, HOOD, NVMI and CARG have been added to the Zacks Rank #1 (Strong Buy) List on August 22, 2024.
Top Wall Street analysts changed their outlook on these top names. For a complete view of all analyst rating changes, including upgrades and downgrades, please see our analyst ratings page.
CarGurus, Inc. (NASDAQ:CARG ) Q2 2024 Earnings Conference Call August 8, 2024 5:00 PM ET Company Participants Kirndeep Singh - Vice President and Head of Investor Relations Jason Trevisan - Chief Executive Officer Elisa Palazzo - Chief Financial Officer Sam Zales - President and Chief Operating Officer Conference Call Participants Nicholas Jones - Citizens JMP Securities LLC Jed Kelly - Oppenheimer & Co. Inc. Rajat Gupta - JPMorgan Chase & Co. Ryan Pfingst - B. Riley Securities, Inc. Marvin Fong - BTIG LLC Tom White - D.A.
Although the revenue and EPS for CarGurus (CARG) give a sense of how its business performed in the quarter ended June 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.
CarGurus (CARG) came out with quarterly earnings of $0.41 per share, beating the Zacks Consensus Estimate of $0.34 per share. This compares to earnings of $0.29 per share a year ago.
CarGurus Inc. shares rallied more than 10% in the after-hours session Thursday after the online car-sales platform posted better-than-expected quarterly results and an adjusted profit guidance that was also above forecast.
Q2'24 Marketplace revenue accelerated to 14% YoY, marking the third consecutive quarter of double-digit growth Consolidated GAAP Net Loss of $68.7 million1; Non-GAAP Adjusted EBITDA of $55.6 million, up 23% YoY Repurchased $61 million worth of shares in 2Q'24, representing 2.5% of our outstanding capital CAMBRIDGE, Mass., Aug. 08, 2024 (GLOBE NEWSWIRE) -- CarGurus, Inc. (Nasdaq: CARG), the No.