CarGurus

Cargurus, Inc. engages in the provision of online auto shopping. The firm offers proprietary technology, search algorithms and data analytics to analyze new and used car listings. It operates through the following segments: United States and International. The United States segment derives revenues from marketplace subscriptions, advertising services and other revenues from customers within the United States. The International segment includes the revenues from marketplace subscriptions, advertising services and other revenues from customers outside of the United States. The company was founded by Langley Steinert on November 10, 2005 and is headquartered in Cambridge, MA.

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CarGurus surpasses Q4 expectations amidst market challenges, eyes 2023 growth

CarGurus navigated challenges in the automotive market, exceeding forecasted guidance with record marketplace revenue and gross profit.
Management's optimism about core business strength, lead quality, and innovation in digital offerings positions the company for growth in 2023.
Operational efficiency, financial stability, and proactive management strategies are key strengths driving CarGurus' performance.
Addressing challenges in CarOffer optimization and market dynamics presents opportunities for sustainable growth and revenue optimization.

CarGurus exceeds revenue forecasts, focuses on digital growth strategies

CarGurus showcased strong financial performance in Q1 2023, with a focus on operational excellence and profitability. Despite challenges like low inventory levels, the company's strategic initiatives such as Digital Deal and brand ad campaigns position it well for growth and market expansion.

CarGurus exceeds Q2 earnings expectations, eyes pricing strategies for growth

CarGurus delivered strong financial performance in Q2 2023, showcasing operational efficiency and revenue growth in the Marketplace segment. While facing challenges in the Wholesale market and macroeconomic factors, the company is focused on seizing opportunities to drive future growth through pricing strategies and product enhancements.

CarGurus surpasses Q3 earnings expectations, eyes growth amid challenges

CarGurus delivered strong financial results, exceeding EBITDA guidance and showcasing operational efficiency
Introduction of new products and focus on premium packages position CarGurus for continued growth
Challenges like declining wholesale prices and market uncertainties require strategic adjustments
Opportunities in subscription models and consumer behavior changes present avenues for market expansion

CarGurus excels in Q4 2023 with strong financial growth and innovative products

CarGurus demonstrated robust financial performance in Q4 2023, marked by profitability, revenue growth, and enhanced product offerings through AI-driven tools and innovative products.
While facing challenges in scaling successes and balancing financial discipline with growth investments, the company remains well-positioned to capitalize on opportunities in subscription offerings, ad revenue, and dealer value-add services.
Overall, CarGurus' strategic focus on monetization, customer experience, and market expansion sets a positive trajectory for continued growth and success in the automotive marketplace.

CarGurus reports strong Q1 earnings and focuses on data-driven growth

CarGurus reported strong Q1 performance with revenue meeting expectations and EBITDA growing by 24% YoY. The company's focus on enhancing dealer and consumer experience through data insights and product capabilities is driving growth and innovation.
Despite challenges such as elevated marketing expenses and managing data volume growth, CarGurus is well-positioned to capitalize on opportunities in leveraging data insights, driving growth in international markets, and optimizing customer results.
With an optimistic Q2 revenue guidance, strategic initiatives in place for profitable growth, and a commitment to innovation and market leadership, CarGurus is poised for continued success in the automotive marketplace.

CarGurus reports robust Q2 earnings, eyes growth through enhanced tech

CarGurus demonstrated strong financial performance in Q2 2024, with revenue meeting expectations and non-GAAP consolidated adjusted EBITDA up by 23% year-over-year.
The company's focus on enhancing the consumer experience through AI initiatives and app improvements is driving increased engagement and retention.
Challenges lie in maintaining operational excellence, navigating market dynamics, and adapting to evolving consumer preferences.
CarGurus has opportunities to capitalize on the shift towards larger dealers, expand its transaction-enabled platform, and explore new markets for growth.

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Cargurus, Inc. is an online automotive platform, which engages in buying and selling vehicles that is building upon its listings marketplace with digital retail solutions and the CarOffer digital wholesale platform. It operates through the following segments: U.S. Marketplace, Digital Wholesale, and Other. The U.S. Marketplace segment offers marketplace services from customers. The Digital Wholesale segment consists of dealer-to-dealer and IMCO services and products which are sold on the CarOffer platform. The company was founded by Langley Steinert on November 10, 2005 and is headquartered in Boston, MA.

First Quarter Highlights: Total revenue of $232.0 million GAAP operating income of $14.1 million; non-GAAP operating income of $36.6 million GAAP consolidated net income of $11.9 million; non-GAAP consolidated net income of $29.0 million GAAP net income attributable to common stockholders of $16.1 million; non-GAAP net income attributable to common stockholders of $30.3 million Cash and cash equivalents of $456.7 million and an available $399.3 million under its revolving credit facility Consolidated Adjusted EBITDA, a non-GAAP metric, of $40.8 million; Adjusted EBITDA, a non-GAAP metric, of $41.5 million CAMBRIDGE, Mass., May 09, 2023 (GLOBE NEWSWIRE) -- CarGurus, Inc. (Nasdaq: CARG), a multinational, online automotive platform for buying and selling vehicles, today announced financial results for the first quarter ended March 31, 2023.

CarGurus Announces First Quarter 2023 Results

CAMBRIDGE, Mass., April 18, 2023 (GLOBE NEWSWIRE) -- CarGurus, Inc. (Nasdaq: CARG), the No. 1 visited digital auto platform for shopping, buying, and selling new and used vehicles1, announced it will issue a press release reporting financial results for the First Quarter ended March 31st, 2023, after the close of the market on May 9th, 2023.

CarGurus to Report First Quarter 2023 Financial Results

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Verified car shopper ratings highlight the dealerships providing an exceptional experience across the U.S., Canada, and U.K. Verified car shopper ratings highlight the dealerships providing an exceptional experience across the U.S., Canada, and U.K.

CarGurus Releases its Ninth Annual Top-Rated Dealer Awards

Average used car price rises for the first time in eight months Average used car price rises for the first time in eight months

CarGurus February 2023 Intelligence Report Finds Used Car Price Trends Reverse as Inventory Tightens

Vroom

There are plenty of bumps in the road for auto sales. Inventory is improving but is still constrained, and inflation continues to keep car prices lofty.

CarGurus, Vroom Show Connected Car's Journey Starts at Point of Sale

At 30 times earnings, is CarGurus stock still a buy?

Why CarGurus Stock Raced Ahead 11% Today

CarGurus (CARG) delivered earnings and revenue surprises of 144.44% and 2.67%, respectively, for the quarter ended December 2022. Do the numbers hold clues to what lies ahead for the stock?

CarGurus (CARG) Q4 Earnings and Revenues Surpass Estimates

CarGurus, Inc. (NASDAQ:CARG ) Q4 2022 Results Conference Call February 28, 2023 5:00 PM ET Company Participants Kirndeep Singh - VP and Head, IR Jason Trevisan - CEO Sam Zales - President and COO Conference Call Participants John Colantuoni - Jefferies Jed Kelly - Oppenheimer Chris Pierce - Needham & Company Marvin Fong - BTIG Doug Arthur - Huber Research Nick Jones - JMP Securities Ron Josey - Citi Operator Good day, and welcome to the CarGurus Fourth Quarter and Full Year 2022 Earnings Conference Call. Please note, this event is being recorded.

CarGurus, Inc. (CARG) Q4 2022 Earnings Call Transcript

CarGurus Announces Fourth Quarter and Full-Year 2022 Results

CarGurus (CARG) is seeing favorable earnings estimate revision activity and has a positive Zacks Earnings ESP heading into earnings season.

Should You Buy CarGurus (CARG) Ahead of Earnings?

Issues at CarOffer have overshadowed CARG's strong core business. A slightly more difficult used car market should bode well for CARG.

CarGurus: Issues With CarOffer Present An Opportunity

CarGurus (CARG) possesses the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

CarGurus (CARG) Expected to Beat Earnings Estimates: Should You Buy?

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Used vehicle prices continued to decline, while new car prices elevated slightly Used vehicle prices continued to decline, while new car prices elevated slightly

CarGurus January 2023 Intelligence Report Finds Consumer Demand for New and Used Vehicles is on the Rise

CAMBRIDGE, Mass., Jan. 30, 2023 (GLOBE NEWSWIRE) -- CarGurus, Inc. (Nasdaq: CARG), the No. 1 visited digital auto platform for shopping, buying, and selling new and used vehicles1, announced it will issue a press reporting financial results for the fourth quarter and fiscal year ended December 31, 2022, after the close of the market on February 28th, 2023.

CarGurus to Report Fourth Quarter and Full-Year 2022 Financial Results

CAMBRIDGE, Mass., Jan. 05, 2023 (GLOBE NEWSWIRE) -- CarGurus, Inc. (Nasdaq: CARG), the No. 1 visited digital auto platform for shopping, buying, and selling new and used vehicles1, today announced that Jason Trevisan, Chief Executive Officer, is scheduled to virtually present at the 25th Annual Needham Growth Conference on Thursday, January 12th at 10:15 AM ET.

CarGurus to Present at 25th Annual Needham Growth Conference

CarGurus, Inc. is playing catch-up in a rapidly changing wholesale market. Instant Max Cash took a big hit sequentially as the number of transactions and average selling prices fell.

CarGurus: Changing Market Catches Company Off Guard

Shares of CarGurus have dropped more than 60% this year on weakening performance. Investors are also rightly unnerved over the company's expanding Instant Max Cash Offer program, which is still operating at negative margins.

CarGurus: Not Worth Sticking Around For A Comeback

Report from the most visited automotive shopping site in the U.S. 1 highlights factors that influenced the automotive market this year and trends to watch in 2023

CarGurus 2022 Review & 2023 Outlook: Electric Vehicle Demand Moderates, Luxury Used Vehicle Prices Decline & Most Viewed Cars Show Diversity

Carvana

Citi analysts on Tuesday started covering Carvana Co. and CarGurus Inc. stocks at the equivalent of a hold rating, saying the online car marketplaces stand to benefit from growing consumer desire for online shopping and gaining market share in a fragmented industry.

Carvana, CarGurus stocks started at hold rating by Citi

CAMBRIDGE, Mass., Dec. 08, 2022 (GLOBE NEWSWIRE) -- CarGurus (Nasdaq: CARG), the No. 1 visited digital auto platform for shopping, buying and selling new and used vehicles1, today announced its Board of Directors has authorized the Company to repurchase up to $250 million of its Class A common stock as part of its capital deployment strategy.

CarGurus Announces $250 Million Share Repurchase Program

Used car prices are now down 1% year-over-year, compared to a 3% year-over-year gain in October Used car prices are now down 1% year-over-year, compared to a 3% year-over-year gain in October

CarGurus November 2022 Intelligence Report Finds Used Cars Prices Continue to Decline; New Car Prices Begin to Moderate

Study conducted by U.K.-based University of Lincoln and CarGurus investigates the impact of electric vehicle travel on dog behavior and well-being Study conducted by U.K.-based University of Lincoln and CarGurus investigates the impact of electric vehicle travel on dog behavior and well-being

CarGurus Study Finds Dogs Are More Relaxed in Electric Cars

CAMBRIDGE, Mass., Nov. 28, 2022 (GLOBE NEWSWIRE) -- CarGurus, Inc. (Nasdaq: CARG), a multinational, online automotive platform for buying and selling vehicles, today announced that Jason Trevisan, Chief Executive Officer, is scheduled to present at the Raymond James 2022 Technology Investors Conference on Monday, December 5th at 11:30 AM ET.

News for CarGurus Stock (CARG)