CarGurus, Inc. (NASDAQ:CARG) is a leading online platform for buying and selling vehicles, serving both the U.S. and international markets. The company operates through two main segments: U.S. Marketplace and Digital Wholesale. CarGurus offers a range of services, including an online marketplace for new and used car listings, digital deal options, financing pre-qualification, and tools for consumers and dealers.
The consensus price target for CarGurus’ stock has shown fluctuations over the past year. Last month, the average price target was $37, down from $42 in the last quarter. This decrease may reflect changing market conditions or company performance. However, the price target was $39.92 last year, indicating some variation in analysts’ expectations.
The automotive market in 2025 was influenced by affordability concerns, driven by rising ownership costs, tariffs, and a shortage of late-model used vehicles. CarGurus, as the most visited automotive shopping site in the U.S., released its 2025 Recap and 2026 Outlook, highlighting these trends. The report notes a growing demand for compact body styles, hybrids, and value-driven used models.
Despite the recent decrease in the consensus price target, analyst Chris Pierce from Needham has set a higher price target of $52 for CarGurus. This suggests optimism about the company’s future performance, possibly due to its strong market position and ability to adapt to changing consumer preferences.
Investors should consider these changes in consensus price targets alongside other factors such as company news, financial performance, and broader market trends when evaluating CarGurus’ stock. The company’s focus on affordability and value-driven models may position it well in the evolving automotive market.
