- Needham analyst Chris Pierce reiterated a Buy rating and $40 (53.4% upside) target post-CarGurus, Inc's CARG Investor Day and added it to the Needham Conviction List (replacing ACV Auctions Inc ACVA).
- Pierce cited increased confidence in the growth of the dealer-facing subscription business and multiple tailwinds supporting share gains in wholesale.
- He saw better monetization of consumer traffic as CARG moved down the funnel further into (asset-light) digital retailing.
- Pierce viewed CARG's combination of growth and profitability favorably.
- Price Action: CARG shares traded lower by 2.46% at $25.16 on the last check Tuesday.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
date | ticker | name | Price Target | Upside/Downside | Recommendation | Firm |
|---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in
