CarGurus Inc reports results for the quarter ended June 30 - Earnings Summary

• CarGurus Inc CARG.OQ reported quarterly adjusted earnings of 57 cents​​ per share for the quarter ended June 30, higher than the same quarter last year, when the company reported EPS of 41 cents. The mean expectation of thirteen analysts for the quarter was for earnings of 54 cents per share. Wall Street expected results to range from 50 cents to 56 cents per share.

• Revenue rose 7% to $234.03 million from a year ago; analysts expected $232.67 million.

• CarGurus Inc's reported EPS for the quarter was 22 cents​.

• The company reported quarterly net income of $22.34 million.

• CarGurus Inc shares had fallen by 5.0% this quarter and lost 12.9% so far this year.

FORECAST CHANGES

• The mean earnings estimate of analysts had risen by about 9% in the last three months.​

• In the last 30 days, there have been no earnings estimate revisions by analysts covering the company.

RECOMMENDATIONS

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy," 6 "hold" and no "sell" or "strong sell." The average consensus recommendation for the online services peer group is also "buy"

• Wall Street's median 12-month price target for CarGurus Inc is $40.00, about 21.5% above its last closing price of $31.41

This summary was machine generated from LSEG data August 8 at 04:28 a.m. UTC. ​All figures in US dollars unless otherwise stated. (For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact RefinitivNewsSupport@thomsonreuters.com)