BUZZ-CarGurus skids after mixed Q4 results, downbeat rev outlook

Shares of online auto marketplace CarGurus CARG.O skidding 19.1% to $30.42, an over three month-low, early Fri after mixed qtrly report, downbeat current-qtr rev guidance

Shares on course for biggest daily pct drop since Aug 9, 2022

Boston-based firm late Thurs posted Q4 total rev of $228.5 mln, up 2% y/y, and non-GAAP EPS of 55 cents. Analysts on avg expected total rev of $232.5 mln and profit of 52 cents, per LSEG data

Co said its Marketplace business achieved double-digit growth, driven by continued migration to premium tiers, strong OEM advertising demand, growing adoption

For Q1, it expects total rev of $216-$236 mln, comprising Marketplace rev of $209-$214 mln, and non-GAAP earnings of 41-47 cents

Wall Street expected total rev of ~$236 mln and profit of 42 cents for the Mar-qtr

DA Davidson sticks with 'neutral' rating, saying Marketplace rev growth in 2025 expected to "modestly taper" as comps toughen

BTIG, which has 'buy' on the stock, lowered its PT by $1 to $40, saying CarOffer continues to be a waiting game as management described the business turnaround as still "in the early innings"

JP Morgan increased its PT by $2 to $42

Of 14 brokerages covering CARG, recommendation breakdown is 10 "strong buy" or "buy", 3 "hold" and 1 "sell" with $40 median PT - LSEG

Including the drop on Fri, stock still up ~30% over the past year