Cargurus Inc is an online automotive marketplace that connects buyers and sellers of vehicles, facilitating the car shopping and selling process
The company provides a platform where users can browse a large inventory of new and used cars, compare listings from various dealerships and private sellers, access vehicle history reports, and read reviews. By utilizing advanced algorithms and extensive data, Cargurus helps consumers find fair market prices for vehicles, while also offering tools and resources for dealers to reach a broader audience. The platform enhances transparency in the automotive market, making car buying and selling a more efficient experience for all parties involved.
Shares of online auto marketplace CarGurus (NASDAQCARG) fell 19.4% in the afternoon session after the company had a rough Q4 2024, with revenue and next-quarter guidance falling short of expectations. Sales grew just 2% compared to the previous year, dragged down by a 55% decline in both Wholesale and Product revenue, while Marketplace revenue, the core business, expanded 15%. International sales were a bright spot, climbing 26%.
Despite sluggish revenue growth, gross profit climbed 18% as margins improved. Adjusted EBITDA also surged, outpacing revenue growth and lifting EPS above Wall Street's estimates. First-quarter EBITDA guidance also topped forecasts, pointing to stronger profitability ahead.
Still, first-quarter revenue projections signal ongoing softness, with Wholesale and Product segments likely remaining a drag. Investors will watch whether Marketplace momentum can offset these headwinds.
Overall, this was a softer quarter due to weaker top-line momentum.
Among key performance indicators, total paying dealers increased by 3%, and Quarterly Average Revenue per Subscribing Dealer (QARSD) gained 12% to $6,144.
Online auto marketplace CarGurus (NASDAQCARG) fell short of the market’s revenue expectations in Q4 CY2024 as sales rose 2.4% year on year to $228.5 million. Next quarter’s revenue guidance of $226 million underwhelmed, coming in 5.2% below analysts’ estimates. Its non-GAAP profit of $0.55 per share was 6.2% above analysts’ consensus estimates.
As the Q3 earnings season comes to a close, it’s time to take stock of this quarter’s best and worst performers in the online marketplace industry, including LegalZoom (NASDAQLZ) and its peers.
Quarterly earnings results are a good time to check in on a company’s progress, especially compared to its peers in the same sector. Today we are looking at Shutterstock (NYSESSTK) and the best and worst performers in the online marketplace industry.
Uncover the potential of CARGURUS INC, a growth stock reasonably priced. NASDAQ:CARG is excelling in growth aspects, maintaining a healthy financial position, and still offers an attractive valuation.
Earnings results often indicate what direction a company will take in the months ahead. With Q3 behind us, let’s have a look at Etsy (NASDAQETSY) and its peers.
BOSTON, Feb. 06, 2025 (GLOBE NEWSWIRE) -- CarGurus, Inc. (Nasdaq: CARG), the No. 1 visited digital auto platform for shopping, buying, and selling new and used vehicles1, announced it will issue a press release reporting financial results for the fourth quarter and fiscal year ended December 31, 2024, after the close of the market on February 20, 2025.
The “Big Deal” campaign pays tribute to the momentous experience of car shopping, along with the trusted digital tools from CarGurus that help consumers find the best deal on their big deal
BOSTON, Jan. 08, 2025 (GLOBE NEWSWIRE) -- CarGurus, Inc. (Nasdaq: CARG), the No. 1 visited digital auto platform for shopping, buying, and selling new and used vehicles1, today announced that Elisa Palazzo, Chief Financial Officer, is scheduled to participate in a fireside chat at the 27th Annual Needham Growth Conference on Wednesday, January 15, 2025, at 11:45 AM ET.
When it comes to used cars in the United States, CarMax Inc. (NYSEKMX) stands out as the largest used car dealership. The auto/tires/trucks sector giant opera
CarGurus’s 38.7% return over the past six months has outpaced the S&P 500 by 29.4%, and its stock price has climbed to $35.01 per share. This was partly due to its solid quarterly results, and the performance may have investors wondering how to approach the situation.
Seventh annual survey finds consumer satisfaction and buying power on the rise as shoppers increasingly tap the power of online tools to research and guide their decisions
Looming tariffs, questions on the future of electric vehicle tax credits, and ongoing affordability pressures stand to influence new and used pricing and demand
Looking back on online marketplace stocks’ Q3 earnings, we examine this quarter’s best and worst performers, including CarGurus (NASDAQCARG) and its peers.
BOSTON, Nov. 12, 2024 (GLOBE NEWSWIRE) -- CarGurus, Inc. (Nasdaq: CARG), the No. 1 visited digital auto platform for shopping, buying, and selling new and used vehicles1, today announced that Elisa Palazzo, Chief Financial Officer, is scheduled to participate in a fireside chat at RBC’s 2024 Global Technology, Internet, Media and Telecommunications Conference on Tuesday, November 19, 2024 at 4:00 PM ET.
Shares of online auto marketplace CarGurus (NASDAQCARG) jumped 15.2% in the morning session after the company reported impressive third-quarter earnings that blew past analysts' revenue and EBITDA expectations. The improvement in sales was driven by a 15% year-on-year growth in marketplace revenue, showcasing the company's successful focus on customer engagement and dealer retention.
