CarGurus (CARG) AnalysisCompany Overview:
CarGurus, a leading online platform for buying and selling cars, continues to attract investor confidence with its growing user base and strong market positioning. The platform's ability to connect consumers with dealers is driving its popularity, making it a significant player in the automotive marketplace.
Key Highlights:
Rising User Engagement: CarGurus saw a 3% increase in average monthly users, a strong indicator of consumer engagement and platform relevance. This growth reflects the company's effectiveness in attracting and retaining users, crucial for long-term success.
Analyst Optimism: Analysts are bullish on CarGurus' prospects. JPMorgan Chase & Co. raised their target price to $32.00, while BTIG Research set theirs at $30.00, both maintaining a "Buy" rating. This analyst confidence highlights the market's positive view of CarGurus' growth trajectory.
Revenue Growth: The company's Marketplace business reported its largest quarterly revenue increase since 2021. This growth was driven by higher adoption of add-on products, a shift to premium service tiers, and expansion of its global dealer base, all contributing to stronger financial performance.
Investment Outlook:
Bullish Outlook: We are bullish on NASDAQ:CARG above the $23.00-$24.00 range.
Upside Potential: With an upside target of $35.00-$36.00, CarGurus presents a compelling growth opportunity as it continues to enhance its platform, expand its dealer network, and increase user engagement.
📈🚗 CarGurus—driving growth and accelerating your portfolio! #CARG #Automotive 🚗💼
CARG
CARG, 2 HrsNASDAQ:CARG ,
Crab Harmonic Pattern
--------------------------------------------
Short Between 41.43 - 42.53
Buy Back @ Target 1 : 38.00, Target 2: 39.75
Stop Loss @ 43.50
DISCLAIMER:
I am not a financial /investment advisor. All information I am sharing here is for entertainment purposes only and should not be considered personal investment advice.
While the information provided is accurate, it may include errors or inaccuracies. Please, do your diligence when it comes to investing or trading in the market.
You are responsible on your choice. Thank you
CARGURUS Stock Price Maybe On Its Way To Test Upper ChannelAfter another touch on the lower channel of the bearish wedge, CARG stock price bounces upside. Is the stock now ready to re-test the upper channel? Some important levels to note for sellers participation include 29.20 & 34.00
N.B
- Let emotions and sentiments work for you
-ALWAYS Use Proper Risk Management In Your Trades
CARG - Unusual Call options activityLarge activity in CarGurus since this name typically trades less than 400 contracts per day. On Dec 11, 5,000 Dec $25 calls closing for $3.40. 5,000 Dec $27 calls bought for $2.00. 3,800 Jan 2021 $29 calls are trading; most bought for $1.55. The golden cross is almost there (50 dma cross over 200 dma). Analyst Davidson gave the stock an upgrade friday. Beware FOMC is Dec 16th, Good Luck this week!