CarGurus (NASDAQ:CARG) Stock Price Target Lowered at Royal Bank Of Canada

Posted by Brian Himes on Nov 6th, 2026

CarGurus (NASDAQ:CARG – Get Free Report) had its price target reduced by Royal Bank Of Canada from $42.00 to $41.00 in a report released on Friday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank Of Canada‘s price target would indicate a potential upside of 16.03% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on CARG. UBS Group lowered their price objective on CarGurus from $40.00 to $35.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 7th. Weiss Ratings lowered CarGurus from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, October 23rd. Wall Street Zen raised CarGurus from a “hold” rating to a “buy” rating in a report on Saturday, October 31st. Needham & Company LLC lifted their price target on CarGurus from $43.00 to $44.00 and gave the company a “buy” rating in a research report on Friday, August 7th. Finally, Oppenheimer lifted their price target on CarGurus from $38.00 to $44.00 and gave the company an “outperform” rating in a research report on Wednesday, August 12th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, CarGurus currently has an average rating of “Moderate Buy” and a consensus target price of $39.85.

Read Our Latest Report on CARG

CarGurus Stock Performance

NASDAQ CARG traded down $0.81 during trading hours on Friday, hitting $35.34. The company had a trading volume of 1,075,262 shares, compared to its average volume of 1,275,890. The firm has a market capitalization of $3.15 billion, a price-to-earnings ratio of 19.32, a PEG ratio of 1.30 and a beta of 1.22. CarGurus has a 52 week low of $26.39 and a 52 week high of $41.22. The firm has a 50 day simple moving average of $32.22 and a 200 day simple moving average of $32.85.

CarGurus (NASDAQ:CARG – Get Free Report) last announced its quarterly earnings results on Thursday, November 5th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.04. The firm had revenue of $258.37 million for the quarter, compared to analysts’ expectations of $256.46 million. CarGurus had a return on equity of 62.88% and a net margin of 18.06%. The company’s revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.57 earnings per share. On average, research analysts forecast that CarGurus will post 2.17 earnings per share for the current year.

Insider Activity at CarGurus

In related news, insider Ismail Elshareef sold 1,964 shares of the firm’s stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $32.33, for a total transaction of $63,496.12. Following the transaction, the insider directly owned 123,670 shares of the company’s stock, valued at approximately $3,998,251.10. This trade represents a 1.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Greg M. Schwartz sold 10,000 shares of CarGurus stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $36.07, for a total transaction of $360,700.00. Following the transaction, the director directly owned 8,716 shares in the company, valued at $314,386.12. This trade represents a 53.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 82,846 shares of company stock worth $2,803,095 in the last three months. 18.19% of the stock is owned by insiders.

Institutional Trading of CarGurus

Several institutional investors have recently added to or reduced their stakes in CARG. Congress Asset Management Co. increased its holdings in shares of CarGurus by 7.6% in the third quarter. Congress Asset Management Co. now owns 2,125,686 shares of the company’s stock worth $66,236,000 after buying an additional 149,338 shares during the period. Bessemer Group Inc. raised its holdings in CarGurus by 18.2% during the 1st quarter. Bessemer Group Inc. now owns 1,085,061 shares of the company’s stock valued at $36,945,000 after buying an additional 166,954 shares during the last quarter. Bank of America Corp DE boosted its position in CarGurus by 26.6% during the 1st quarter. Bank of America Corp DE now owns 586,346 shares of the company’s stock valued at $19,965,000 after buying an additional 123,364 shares during the period. Principal Financial Group Inc. increased its position in shares of CarGurus by 19.1% in the first quarter. Principal Financial Group Inc. now owns 573,406 shares of the company’s stock valued at $19,524,000 after acquiring an additional 91,755 shares during the period. Finally, Bank of New York Mellon Corp purchased a new position in shares of CarGurus in the second quarter valued at about $15,631,000. 86.90% of the stock is currently owned by hedge funds and other institutional investors.

CarGurus News Roundup

Here are the key news stories impacting CarGurus this week:

Positive Sentiment: Q3 revenue increased 12% year over year to $258 million, at the high end of company guidance and above the $256.5 million consensus. Adjusted EPS of $0.70 also topped the $0.66 estimate. CarGurus Announces Third Quarter 2026 Results
Positive Sentiment: Operating cash flow was $80.8 million and free cash flow was $73.9 million. The board also authorized a $250 million share-repurchase program, which could support per-share value. CarGurus Announces Third Quarter 2026 Results
Positive Sentiment: Paying U.S. dealers using CarGurus’ non-listings products grew 16% year over year, suggesting continued traction beyond its core listings business. CarGurus: 3 Key Takeaways for Long-Term Investors
Negative Sentiment: Despite the quarterly beat, CarGurus’ revenue guidance for the next quarter was reported as slightly below expectations, a potential constraint on near-term investor enthusiasm. CarGurus Q3 sales beat estimates but quarterly revenue guidance slightly misses expectations

CarGurus Company Profile

(Get Free Report)

CarGurus, Inc operates an online automotive marketplace that connects consumers with automobile dealers and private sellers. Its platform enables shoppers to search for new and used vehicles, compare listings, evaluate vehicle and dealer information, and contact sellers. CarGurus generates revenue primarily by providing dealers with digital listing, advertising and marketing products designed to help them reach potential buyers.

The company also offers tools intended to support automotive retailers’ online operations, including inventory merchandising, lead generation and digital retailing capabilities.