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Curious about CarGurus (CARG) Q1 Performance? Explore Wall Street Estimates for Key Metrics

Zacks Equity Research
·2-min read

The upcoming report from CarGurus (CARG) is expected to reveal quarterly earnings of $0.29 per share, indicating an increase of 11.5% compared to the year-ago period. Analysts forecast revenues of $217.29 million, representing a decrease of 6.3% year over year.

Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 0.8% to its current level. This demonstrates the covering analysts' collective reassessment of their initial projections during this period.

Prior to a company's earnings announcement, it is crucial to consider revisions to earnings estimates. This serves as a significant indicator for predicting potential investor actions regarding the stock. Empirical research has consistently demonstrated a robust correlation between trends in earnings estimate revision and the short-term price performance of a stock.

While investors typically use consensus earnings and revenue estimates as a yardstick to evaluate the company's quarterly performance, scrutinizing analysts' projections for some of the company's key metrics can offer a more comprehensive perspective.

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Bearing this in mind, let's now explore the average estimates of specific CarGurus metrics that are commonly monitored and projected by Wall Street analysts.

The collective assessment of analysts points to an estimated 'Revenue- Marketplace' of $185.57 million. The estimate suggests a change of +11% year over year.

The combined assessment of analysts suggests that 'Revenue- Wholesale' will likely reach $18.64 million. The estimate indicates a year-over-year change of -26%.

Based on the collective assessment of analysts, 'Revenue- Product' should arrive at $13.85 million. The estimate indicates a year-over-year change of -65.1%.

The consensus among analysts is that 'Paying Dealers - Total' will reach 31,011. The estimate is in contrast to the year-ago figure of 31,291.

View all Key Company Metrics for CarGurus here>>>

CarGurus shares have witnessed a change of -2.6% in the past month, in contrast to the Zacks S&P 500 composite's -1.6% move. With a Zacks Rank #3 (Hold), CARG is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>

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CarGurus, Inc. (CARG) : Free Stock Analysis Report

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Zacks Investment Research