CarGurus falls after Citizens downgrades to 'market perform' rating
ReutersJul 2, 2025 1:14 PM
Online auto marketplace CarGurus CARG.O shares down ~1.30% to $33.3 premarket
Citizens downgrades CARG to "market perform" from "market outperform" rating, saying profit outperformance is likely to be limited
Brokerage says CARG's dealer growth appears to be maturing, and dealer count is below 2019 levels
Eight of 13 brokerages rate the stock "buy" or higher, five "hold"; their median PT is $40 - LSEG data
As of last close, stock down ~7.7% YTD
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