Oppenheimer lowered the firm’s price target on CarGurus (CARG) to $40 from $42 and keeps an Outperform rating on the shares. The firm highlights increasing CarGurus’s 2026 EBITDA 4% on accelerating marketplace revenue from strong U.S. dealer net adds and durable U.S. QARSD pricing, and sunsetting CarOffer on market volatility and Digital Deal’s ability to generate similar conversion at higher incremental margins. The CarOffer development eliminates the onsite transactional Optionality, likely impacting terminal multiple, in Oppenheimer’s view.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on CARG:
- CarGurus price target lowered to $40 from $42 at RBC Capital
- CarGurus price target raised to $44 from $39 at Needham
- CarGurus price target raised to $36 from $33 at UBS
- CarGurus: Buy Rating Affirmed Amidst Strong Growth Potential and Robust Platform
- CarGurus Reports Strong Q2 2025 Results and Strategic Shift