CarGurus, Inc. (CARG) Stock Price & Analysis
CarGurus, Inc. (CARG) closed at USD 32.73 on Thursday, October 22, 2026, up 4.94% on the day. The US market is currently closed (pre-market); this is not a live price.
The prior close was USD 31.19; the Oct 22, 2026 session ranged USD 31.22–32.8 on volume of 1,108,728 shares. Market capitalization is $2.92B, with a 52-week range of USD 26.39–41.22 (NMS). Source: Nexqual, retrieved October 23, 2026 at 10:00 UTC.
Also available as compact Markdown for AI agents: nexqual.com/CARG.md
Key facts (CARG)
- Last four reported quarters (through Jun 30, 2026): revenue $967M, net income $176M (18.2% margin), free cash flow $315M (SEC filings).
- Valuation: P/E 16.6x (avg 94.8x at the last 3 fiscal year-ends).
- Analysts: Buy (mean 2.08 on a 1–5 scale) (13 analysts), mean target USD 41.27 (range 35–46).
- Total return with dividends: 1Y -9.6% vs S&P 500 +14.9%; 5Y -3.4% vs S&P 500 +80.3%.
- Next earnings: 2026-11-05, EPS estimate USD 0.66, revenue estimate $256M.
Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters) (CARG)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $951M | $1.66B | $698M | $798M | $907M | $967M |
| Gross profit | $657M | $658M | $637M | $728M | $842M | — |
| Operating income | $148M | $108M | $120M | $157M | $244M | $277M |
| Net income | $109M | $84.4M | $36.9M | $21.0M | $156M | $176M |
| EPS (diluted) | $0.00 | $0.62 | $0.19 | $0.20 | $1.55 | — |
| Free cash flow | $90.6M | $250M | $100.0M | $180M | $289M | $315M |
| Gross margin | 69.1% | 39.7% | 91.2% | 91.2% | 92.8% | — |
| Operating margin | 15.6% | 6.6% | 17.2% | 19.7% | 27.0% | 28.6% |
| Net margin | 11.5% | 5.1% | 5.3% | 2.6% | 17.2% | 18.2% |
| Revenue growth | +72.5% | +74.0% | -57.8% | +14.3% | +13.7% | — |
| Cash + short-term investments | $232M | $470M | $312M | $304M | — | — |
| Total debt | $0K | $0K | $0K | $0K | $0K | — |
Fiscal years end Dec. EPS is split-adjusted.
Valuation (price ÷ last four quarters, through Jun 30, 2026) (CARG)
P/E 16.6x · P/S 3.0x · P/FCF 9.2x · P/B 11.0x · FCF yield 10.81% · Earnings yield 6.03% · Buyback yield (TTM) 12.67%
P/E at fiscal year-ends: Dec 2025 24.7x, Dec 2024 185.1x, Dec 2023 74.7x.
Analysts (CARG)
Consensus Buy (mean 2.08 on a 1–5 scale), 13 analysts; mean target USD 41.27 (low 35, high 46).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-10-07 | UBS | Target lowered | Neutral | $40 → $35 |
| 2026-10-06 | Barclays | Target lowered | Overweight | $41 → $38 |
| 2026-08-14 | Citigroup | Target raised | Neutral | $32 → $39 |
| 2026-08-12 | Oppenheimer | Target raised | Outperform | $38 → $44 |
| 2026-08-10 | Barclays | Target raised | Overweight | $40 → $41 |
| 2026-08-07 | UBS | Target raised | Neutral | $37 → $40 |
| 2026-08-07 | RBC Capital | Target raised | Outperform | $35 → $42 |
| 2026-08-07 | Needham | Target raised | Buy | $43 → $44 |
| 2026-08-07 | BTIG | Target raised | Buy | $40 → $41 |
| 2026-07-22 | Barclays | Target raised | Overweight | $35 → $40 |
Total return (dividends reinvested) (CARG)
| 1Y (from 2025-10-23) | 5Y (from 2021-10-18) | |
|---|---|---|
| Total return | -9.6% | -3.4% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | -9.6% | -0.7% |
| Volatility (annualized) | 39.8% | 46.1% |
| Max drawdown | -30.9% (Dec 2025→Feb 2026) | -72.1% (Feb 2022→Dec 2022) |
CARG revenue by business segment (quarter ended Sep 30, 2025)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| United States Marketplace | $210.4M | 88.2% | +12.4% |
| Digital Wholesale | $7.0M | 3.0% | -74.2% |
| Total revenue | $238.7M | 100% | — |
CARG revenue by product line (quarter ended Sep 30, 2025)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| Marketplace | $231.7M | 97.0% | +13.5% |
| Product | $4.8M | 2.0% | -68.5% |
| Instant Max Cash Offer | $3.6M | 1.5% | -73.3% |
| Dealer To Dealer | $3.5M | 1.4% | -75.1% |
| Wholesale | $2.2M | 0.9% | -81.4% |
| Total revenue | $238.7M | 100% | — |
CARG revenue by region (quarter ended Jun 30, 2026)
| Line | Revenue | Share of total | YoY |
|---|---|---|---|
| United States | $226.3M | 90.2% | +11.7% |
| Non Us | $24.7M | 9.8% | +27.7% |
| Total revenue | $251.0M | 100% | — |
As tagged by the company in its SEC 10-Q / 10-K filings (XBRL).
CARG suppliers, customers and competitors (named in its 10-K)
| Relationship | Company | Sentence in the filing |
|---|---|---|
| Customer | CarOffer | “Digital Wholesale: Primarily derived revenue from our Dealer-to-Dealer and Instant Max Cash Offer services sold on our CarOffer platform.” |
| Partner | Amazon (AMZN) | “e-commerce sites, such as the partnership between Amazon.com, or Amazon, and select original equipment manufacturers to sell cars on Amazon.” |
Quoted from the company's 10-K filed Feb 19, 2026.
CARG company outlook (results filed Aug 6, 2026)
- “The assumptions that are built into guidance for the third quarter and full-year 2026 regarding our pace of paid dealer acquisition, churn, and expansion activity for the relevant period are based on recent market trends and industry conditions.”
- “Guidance for the third quarter and full-year 2026 excludes macro-level industry issues that result in dealers and consumers materially changing their recent market trends or that cause us to enact measures to assist dealers.”
- “Guidance also excludes any potential impact of future foreign currency exchange gains or losses.”
- “CarGurus may incur charges, realize gains or losses, or experience other events or circumstances in 2026 that could cause any of these assumptions to change and/or actual results to vary from this guidance.”
Quoted word-for-word from the SEC 8-K results press release.
CARG analyst estimates and revisions
| Period | EPS estimate | 90 days ago | Change | Revenue estimate | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends Sep 2026) | $0.66 | $0.63 | +5.9% | $256.5M | 11 |
| Next quarter (ends Dec 2026) | $0.73 | $0.70 | +4.2% | $263.5M | 11 |
| Current fiscal year (ends Dec 2026) | $2.62 | $2.51 | +4.3% | $1.01B | 11 |
| Next fiscal year (ends Dec 2027) | $3.02 | $2.91 | +3.7% | $1.11B | 10 |
CARG options: expected move
Options price a move of about ±16.1% (±$5.28) by Nov 20, 2026, which includes earnings on Nov 5, 2026. Over the last 8 reports the stock moved ±8.1% on average.
| Expiration | Days | ATM implied volatility | Expected move |
|---|---|---|---|
| Nov 20, 2026 | 28 | 71.5% | ±16.1% |
| Dec 18, 2026 | 56 | 56.8% | ±17.9% |
| Feb 19, 2027 | 119 | 51.5% | ±21.2% |
| May 21, 2027 | 210 | 51.9% | ±30.9% |
30-day implied volatility 66.8% vs 36.8% realized over the last 30 trading days. Put/call ratio (volume) 0.02. Cboe delayed quotes (15 min). Expected move = at-the-money straddle.
Key Statistics (as of October 23, 2026 at 10:00 UTC)
| Price | USD 32.73 |
|---|---|
| Change | ▲ 4.94% (up) |
| Previous Close | USD 31.19 |
| Open | USD 31.28 |
| Day Range | USD 31.22 – 32.8 |
| 52-Week Range | USD 26.39 – 41.22 |
| Volume | 1,108,728 shares |
| Market Cap | $2.92B |
| Exchange | NMS |
Technical Analysis (CARG)
Nexqual's technical model rates CARG "NEUTRAL" based on 3 bullish and 4 bearish signals across 127 daily candles, as of October 23, 2026 at 10:00 UTC.
| Overall Signal | NEUTRAL |
|---|---|
| RSI (14) | 60.03 (neutral) |
| vs SMA50 | Below (USD 32.98) |
| MACD | -0.35 (negative) |
Analyst Ratings (CARG)
Wall Street analysts rate CARG "Buy" based on 13 analysts, with a mean price target of USD 41.27 (range USD 35–46), per Nexqual as of October 23, 2026 at 10:00 UTC.
| Consensus Rating | Buy |
|---|---|
| Analyst Count | 13 |
| Mean Target | USD 41.27 |
| High Target | USD 46 |
| Low Target | USD 35 |
| Buy / Hold / Sell | 9 / 4 / 0 |
Earnings (CARG)
| Next Earnings Date | 2026-11-05 |
|---|---|
| EPS Estimate | USD 0.66 |
| Revenue Estimate | $256.48M |
Recent Earnings History
| Quarter | Actual vs Estimate |
|---|---|
| 2026-06-30 | USD 0.66 vs est 0.61 ▲ beat |
| 2026-03-31 | USD 0.58 vs est 0.57 ▲ beat |
| 2025-12-31 | USD 0.63 vs est 0.63 ▼ miss |
| 2025-09-30 | USD 0.57 vs est 0.55 ▲ beat |
Source: Nexqual, October 23, 2026 at 10:00 UTC.
Financials & Fundamentals (CARG)
| Total Revenue | $967.27M |
|---|---|
| Revenue Growth (latest quarter, YoY) | +13.10% |
| Gross Margin | +92.38% |
| Operating Margin | +25.27% |
| Profit Margin | +18.19% |
| ROE | +53.47% |
| Debt / Equity | 0.7 |
| Current Ratio | 1.85 |
| Total Cash | $122.14M |
| Total Debt | $185.14M |
| Free Cash Flow (last four quarters to Jun 2026, SEC 10-Q / 10-K) | $315.21M (32.6% of revenue) |
Source: Nexqual, October 23, 2026 at 10:00 UTC.
Financial Health Score (CARG)
Nexqual rates CarGurus, Inc.'s overall financial health "Strong" across five dimensions, as of October 23, 2026 at 10:00 UTC.
| Growth | Mixed — Revenue +5.0% YoY (annual), slow |
|---|---|
| Profitability | Strong — Gross margin 92%, operating 25% (last 12 months) |
| Balance Sheet | Solid — $122M cash vs $185M debt |
| Cash Flow | Strong — FCF $315M (last 4 quarters to Jun 2026, SEC), 33% margin |
| Efficiency | Strong — ROE 53%, ROA 25.0% |
Ownership (CARG)
| Insider Ownership | +2.77% |
|---|---|
| Institutional Ownership | +108.97% |
| Shares Outstanding | 75.31M |
| Float | 72.92M |
| Short % of Float | +18.23% |
Source: Nexqual, October 23, 2026 at 10:00 UTC.
Leadership (CARG)
CarGurus, Inc. is led by E. Langley Steinert, Founder & Executive Chairman, per Nexqual as of October 23, 2026 at 10:00 UTC.
| Founder & Executive Chairman | E. Langley Steinert |
|---|---|
| COO & President | Samuel Zales |
| Chief Technology Officer | Matthew Todd Quinn |
Major Backers & Investors (CARG)
Notable institutional backers of CarGurus, Inc. include Wellington Management, Manufacturers Life Insurance Co., Prevatt Capital Ltd, according to Nexqual as of October 23, 2026 at 10:00 UTC.
Active Investors
| Investor | Stake |
|---|---|
| Wellington Management | 4.32% |
| Manufacturers Life Insurance Co. | 4.13% |
| Prevatt Capital Ltd | 3.42% |
| Orbis Allan Gray Ltd | 3.2% |
| Congress Asset Management Co | 2.82% |
| John Hancock Variable Insurance Trust-Fundamental All Cap Core Trust | 1.48% |
Index Funds (Passive)
| Fund | Stake |
|---|---|
| BlackRock | 15.67% |
| Vanguard Group | 10.64% |
| State Street | 4.01% |
| Geode Capital | 2.78% |
Source: Nexqual, October 23, 2026 at 10:00 UTC.
From CarGurus, Inc.'s Latest SEC 10-K Filing (filed 2026-02-19)
Key Strengths & Strategy (as disclosed to the SEC)
- Deal Ratings are based on Instant Market Value, or IMV (our proprietary algorithm that assesses the market value of a used vehicle in a local market).
- Leveraging our proprietary data and content, we also engage in press outreach to deliver our messages through organic media and articles.
- From time to time, we file U.S. provisional and non-provisional patent applications that may cover proprietary technology relating to various functionalities on our platform to the extent we believe they would be beneficial to our competitive position.
- We control the use of our proprietary technology and intellectual property through provisions in contracts with our dealer customers and partners and our general and product-specific terms of use on our websites.
Partnerships
- Search Results Page and Vehicle Detail Page: Our Search Results Page, or SRP, provides users with vehicle-specific details such as Deal Ratings as well as in-depth search filters, which we believe deliver the most comprehensive search capability among major U.S. online automotive marketplaces.
- Next Best Deal Rating: Insights tool that provides dealers with the blueprint for the smallest price reduction needed to achieve the next best deal rating on a particular vehicle's listing.
Legal & Regulatory Risks (Item 1A, quoted)
- Our ability to attract consumers to our websites and to provide certain services to our customers depends on the collection of consumer data from various sources, which may be restricted by consumer choice, privacy restrictions, and developments in laws, regulations, and industry standards.
- We and our third-party service providers collect, process, store, transfer, share, disclose, and use consumer information and other data, and the actual or perceived failure of us or our third-party service providers to protect such information and data or respect users' privacy could expose us to liability and adversely affect our reputation, brands, business, and operating results.
- We are subject to a complex framework of laws and regulations, many of which are unsettled, still developing, and contradictory, which have in the past, and could in the future, subject us to claims, challenge our business model, or otherwise harm our business.
- Litigation and other legal proceedings may adversely affect our business, financial condition, and results of operations.
Source: SEC EDGAR 10-K, official filing. Curated by Nexqual.
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Data source: Nexqual — market data, technical indicators, analyst consensus, earnings, SEC EDGAR filings. Last updated: October 23, 2026 at 10:00 UTC. This page is informational and not investment advice.
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