Avoid the stress of overpaying for a stock or missing an opportunity by using the right tools and insights to evaluate CarGurus Inc before investing.

In this article, we go over a few key elements for understanding CarGurus Inc’s stock price such as:

• CarGurus Inc’s current stock price and volume
• Why CarGurus Inc’s stock price changed recently
• Upgrades and downgrades for CARG from analysts
• CARG’s stock price momentum as measured by its relative strength

About CarGurus Inc (CARG)

Before we jump into CarGurus Inc’s stock price, history, target price and what caused it to recently rise, let’s take a look at some background.

CarGurus, Inc. (CarGurus) is a multinational, online automotive platform for buying and selling vehicles that offers both digital retail solutions and the CarOffer digital wholesale platform. The CarGurus platform enables consumers to buy and/or sell a vehicle either online or in-person, and it gives dealerships the power to accurately price, instantly acquire, effectively market, and quickly sell vehicles, all with a nationwide reach. The Company operates through two segments: U.S. Marketplace and Digital Wholesale. The U.S. Marketplace segment provides marketplace services for customers within the United States. The Digital Wholesale segment provides Dealer-to-Dealer and Instant Max Cash Offer (IMCO) services and products which are sold on the CarOffer platform. The Company operates online marketplaces under the CarGurus brand in Canada and the United Kingdom. It also operates the Autolist and PistonHeads online marketplaces in the United States and the United Kingdom.

Want to learn more about CarGurus Inc’s stock? Click the button below to subscribe to A+ Investor and get access to everything you need to know about CarGurus Inc.

CarGurus Inc’s Stock Price as of Market Close

As of May 10, 2024, 4:00 PM, CST, CarGurus Inc’s stock price was $24.22.

CarGurus Inc is up 8.71% from its previous closing price of $22.28.

During the last market session, CarGurus Inc’s stock traded between $22.12 and $22.58. Currently, there are 110.96 million shares of CarGurus Inc stock available for purchase.

CarGurus Inc’s price-earnings (P/E) ratio is currently at 84.5, which is high compared to the Online Services industry median of 28.4. The price-earnings ratio gauges market expectation of future performance by relating a stock’s current share price to its earnings per share.

CarGurus Inc Stock Price History

CarGurus Inc’s (CARG) price is currently up 7.84% so far this month.

During the month of May, CarGurus Inc’s stock price has reached a high of $24.76 and a low of $21.99.

Over the last year, CarGurus Inc has hit prices as high as $24.64 and as low as $16.71. Year to date, CarGurus Inc’s stock is up 72.88%.

Sign Up to Receive a Free Special Report Showing How A+ Grades Can Help You Make Smarter Investment Decisions

What Caused CarGurus Inc Stock’s Price to Rise?

Stock prices are primarily based on seller supply and buyer demand. But have you ever wondered about what other factors affect a stock's price?

When an analyst changes their opinion of a stock by upgrading or downgrading their rating, it often leads to a sudden stock price adjustment. As of May 09, 2024, there were 3 analysts who downgraded CarGurus Inc’s stock and 0 analysts who upgraded over the last month.

Additionally, you'll want to evaluate CarGurus Inc’s financial health and valuation. Investors can use AAII's Value Grade, which combines six key valuation metrics like P/E and P/S ratios for a comprehensive analysis to conduct analysis on CarGurus Inc’s valuation and financial health. This approach mitigates the limitations of single-metric evaluations.

CarGurus Inc’s current valuation based on AAII’s Value Grade is a F, which means it is considered to be Ultra Expensive.

Learn how to evaluate stocks with AAII Grades and Scores with A+ Investor today.

Lastly, news and media coverage as well as recent press reports about the company or its industry may cause stock prices to fluctuate. You can check out the most recent news articles about CarGurus Inc (CARG) by visiting AAII Stock Evaluator.

Relative Price Strength of CarGurus Inc

Relative price strength measures a stock's performance against the market, helping investors identify stocks that are outperforming benchmarks.

For AAII’s Momentum Grade, a weighted relative price strength is calculated. Follow this link to learn more about the Momentum Grade.

As of May 09, 2024, CarGurus Inc has a weighted four-quarter relative price strength of -2.91%, which translates to a Momentum Score of 53 and is considered to be Average.

Want to learn more about how CarGurus Inc is graded based on AAII’s composite scores for value, growth, quality and earnings estimate revisions? Subscribe to A+ Investor today.

CarGurus Inc Stock Price: Bottom Line

As of May 10, 2024, CarGurus Inc’s stock price is $24.22, which is up 8.71% from its previous closing price.

AAII advises against making stock decisions based solely on price or past returns. Instead, consider a variety of metrics, fundamentals, and analytics to evaluate a stock like CarGurus Inc stock prices are influenced by market supply and demand and offer just a snapshot of a company's overall health.

Subscribing to AAII's A+ Investor provides access to comprehensive analytics and insights for confident investing.