Needham has decided to maintain its Buy rating of CarGurus CARG and lower its price target from $40.00 to $32.00.
Shares of CarGurus are trading up 0.42% over the last 24 hours, at $22.52 per share.
A move to $32.00 would account for a 42.13% increase from the current share price.
CarGurus Inc is a company that acts as an online automotive marketplace connecting buyers and sellers of new and used cars. The company provides three types of marketplace Listing products, Restricted Listings, and Enhanced or Featured Listing through which it offers real-time and historical data analyzing the connections and pricing analysis. It also provides all dealers with a web widget to place Deal Rating Badges, which show deal rating. The listing platforms offer auto manufacturers and others to buy advertising on the company's site and target consumers based on the make, model, and zip code of the cars. The company operates through two geographical segments namely United States and the International. Most of the company's revenue comes from the United States.
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