CarGurus

Cargurus, Inc. engages in the provision of online auto shopping. The firm offers proprietary technology, search algorithms and data analytics to analyze new and used car listings. It operates through the following segments: United States and International. The United States segment derives revenues from marketplace subscriptions, advertising services and other revenues from customers within the United States. The International segment includes the revenues from marketplace subscriptions, advertising services and other revenues from customers outside of the United States. The company was founded by Langley Steinert on November 10, 2005 and is headquartered in Cambridge, MA.

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CarGurus surpasses Q4 expectations amidst market challenges, eyes 2023 growth

CarGurus navigated challenges in the automotive market, exceeding forecasted guidance with record marketplace revenue and gross profit.
Management's optimism about core business strength, lead quality, and innovation in digital offerings positions the company for growth in 2023.
Operational efficiency, financial stability, and proactive management strategies are key strengths driving CarGurus' performance.
Addressing challenges in CarOffer optimization and market dynamics presents opportunities for sustainable growth and revenue optimization.

CarGurus exceeds revenue forecasts, focuses on digital growth strategies

CarGurus showcased strong financial performance in Q1 2023, with a focus on operational excellence and profitability. Despite challenges like low inventory levels, the company's strategic initiatives such as Digital Deal and brand ad campaigns position it well for growth and market expansion.

CarGurus exceeds Q2 earnings expectations, eyes pricing strategies for growth

CarGurus delivered strong financial performance in Q2 2023, showcasing operational efficiency and revenue growth in the Marketplace segment. While facing challenges in the Wholesale market and macroeconomic factors, the company is focused on seizing opportunities to drive future growth through pricing strategies and product enhancements.

CarGurus surpasses Q3 earnings expectations, eyes growth amid challenges

CarGurus delivered strong financial results, exceeding EBITDA guidance and showcasing operational efficiency
Introduction of new products and focus on premium packages position CarGurus for continued growth
Challenges like declining wholesale prices and market uncertainties require strategic adjustments
Opportunities in subscription models and consumer behavior changes present avenues for market expansion

CarGurus excels in Q4 2023 with strong financial growth and innovative products

CarGurus demonstrated robust financial performance in Q4 2023, marked by profitability, revenue growth, and enhanced product offerings through AI-driven tools and innovative products.
While facing challenges in scaling successes and balancing financial discipline with growth investments, the company remains well-positioned to capitalize on opportunities in subscription offerings, ad revenue, and dealer value-add services.
Overall, CarGurus' strategic focus on monetization, customer experience, and market expansion sets a positive trajectory for continued growth and success in the automotive marketplace.

CarGurus reports strong Q1 earnings and focuses on data-driven growth

CarGurus reported strong Q1 performance with revenue meeting expectations and EBITDA growing by 24% YoY. The company's focus on enhancing dealer and consumer experience through data insights and product capabilities is driving growth and innovation.
Despite challenges such as elevated marketing expenses and managing data volume growth, CarGurus is well-positioned to capitalize on opportunities in leveraging data insights, driving growth in international markets, and optimizing customer results.
With an optimistic Q2 revenue guidance, strategic initiatives in place for profitable growth, and a commitment to innovation and market leadership, CarGurus is poised for continued success in the automotive marketplace.

CarGurus reports robust Q2 earnings, eyes growth through enhanced tech

CarGurus demonstrated strong financial performance in Q2 2024, with revenue meeting expectations and non-GAAP consolidated adjusted EBITDA up by 23% year-over-year.
The company's focus on enhancing the consumer experience through AI initiatives and app improvements is driving increased engagement and retention.
Challenges lie in maintaining operational excellence, navigating market dynamics, and adapting to evolving consumer preferences.
CarGurus has opportunities to capitalize on the shift towards larger dealers, expand its transaction-enabled platform, and explore new markets for growth.

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Cargurus, Inc. is an online automotive platform, which engages in buying and selling vehicles that is building upon its listings marketplace with digital retail solutions and the CarOffer digital wholesale platform. It operates through the following segments: U.S. Marketplace, Digital Wholesale, and Other. The U.S. Marketplace segment offers marketplace services from customers. The Digital Wholesale segment consists of dealer-to-dealer and IMCO services and products which are sold on the CarOffer platform. The company was founded by Langley Steinert on November 10, 2005 and is headquartered in Boston, MA.

Dealerships with Highest Shopper Satisfaction Recognized by Leading Automotive Shopping Site

CarGurus Announces Seventh Annual Top Rated Dealer Awards

Dealerships with Highest Shopper Satisfaction Recognized by Leading Automotive Shopping Site Dealerships with Highest Shopper Satisfaction Recognized by Leading Automotive Shopping Site

CarGurus Announces Fifth Annual Top Rated Dealer Awards in Canada

A survey conducted by car buying and research website CarGurus, revealed shoppers enjoy being able to research and arrange financing online, but they want more information and transparency during their searches.

CarGurus Study: Car Shoppers Want Honesty And Education In Finance Process

Earnings weren't bad, but they weren't great. Neither was the guidance.

Why CarGurus' Stock Is Lower Today

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The newly installed CEO of CarGurus said Thursday (Feb. 11) the online automotive marketplace left 2020 with good momentum, citing increased subscription and average revenue rates from dealers. In delivering its fourth-quarter results, the Cambridge, Massachusetts-based company reported that its revenues had almost fully recovered to pre-COVID levels, falling just 4 percent from the same […]

CarGurus Approaching Pre-COVID Levels, Looks To Enable Fully Online Transactions

CarGurus' (CARG) CEO Jason Trevisan on Q4 2020 Results - Earnings Call Transcript

CarGurus (CARG) delivered earnings and revenue surprises of 18.52% and 1.97%, respectively, for the quarter ended December 2020. Do the numbers hold clues to what lies ahead for the stock?

CarGurus (CARG) Surpasses Q4 Earnings and Revenue Estimates

CarGurus Inc. CARG shares dropped in the extended session Thursday after the online used-car site's earnings forecast fell short of Wall Street estimates while results topped them. CarGurus shares fell 5% after hours, following a 2.5% decline in the regular session to close at $34.73.

CarGurus stock drops as earnings outlook falls short of Street estimate

CarGurus Announces Fourth Quarter 2020 and Full-Year 2020 Results

Among top growth stocks to watch is CarGurus as the IBD Stock Spotlight pick is approaching a new 35.24 buy point ahead of earnings next week. The post Growth Stocks To Buy And Watch: CarGurus Nears New Buy Point Ahead Of Earnings appeared first on Investor's Business Daily.

Growth Stocks To Buy And Watch: CarGurus Nears New Buy Point Ahead Of Earnings

Consumers Can Now Compare Financing Rates and Visit the Dealership More Prepared to Purchase a Vehicle

CarGurus Launches Finance in Advance*™, A New Digital Retailing Feature

CAMBRIDGE, Mass., Jan. 28, 2021 (GLOBE NEWSWIRE) -- CarGurus, Inc. (Nasdaq: CARG), a leading global online automotive marketplace, announced it will issue a press release reporting financial results for the fourth quarter and fiscal year ended December 31, 2020, after the close of the market on February 11, 2021.

CarGurus to Report Fourth Quarter 2020 Financial Results

CarGurus Inc. said late Thursday that its board of directors has appointed Jason Trevisan as the company's chief executive, with founder Langley Steinert becoming executive chairman. Steinert will "remain involved" in the running of company, focusing on longer-term strategy, the online car marketplace said, and continue to serve as board chair.

CarGurus founder Steinert to step down as CEO

CAMBRIDGE, Mass., Jan. 21, 2021 (GLOBE NEWSWIRE) -- CarGurus (Nasdaq: CARG), a leading global online automotive marketplace, today announced that its Board of Directors has appointed Jason Trevisan to the position of Chief Executive Officer and as a member of the Board. Langley Steinert, founder, will become Executive Chairman of CarGurus and will remain involved in the company's long-term product innovation and corporate strategy. He will also continue to serve as Chairman of the Board of Directors. Trevisan previously served as CarGurus' Chief Financial Officer and President of International and has been with the company since 2015.

CarGurus Announces Executive Leadership Transition

CAMBRIDGE, Mass., Jan. 14, 2021 (GLOBE NEWSWIRE) -- CarGurus (Nasdaq: CARG), a leading global online automotive marketplace, today announced it has completed the acquisition of a 51% interest in CarOffer, with the ability to buy the remaining equity interest in the company over the next three years. The acquisition adds wholesale vehicle acquisition and selling capabilities to CarGurus' portfolio of dealer offerings. CarOffer was founded by auto industry veteran, Bruce Thompson, who will continue to lead the CarOffer brand and team from their Plano, Texas location.

CarGurus Completes Acquisition of CarOffer

CarGurus (CARG) saw a big move last session, as its shares jumped more than 5% on the day, amid huge volumes.

CarGurus (CARG) Looks Good: Stock Adds 5.4% in Session

Online auto marketplace CarGurus.com has made a major play into whole vehicle sales with the purchase of a stake in CarOffer.

CarGurus Jumps Into Wholesale With Stake In CarOffer

Acquisition Will Fuel CarGurus' Platform Growth, With Expanded Capabilities To Help Dealers Buy and Sell Wholesale Inventory Acquisition Will Fuel CarGurus' Platform Growth, With Expanded Capabilities To Help Dealers Buy and Sell Wholesale Inventory

CarGurus Agrees to Acquire a Majority Stake in Instant Trade Platform, CarOffer

Interest in Digital Retail is Up, While Public Transit and Ride Sharing are Down Interest in Digital Retail is Up, While Public Transit and Ride Sharing are Down

CarGurus Study Uncovers How Pandemic Impacted Canadian Automotive Industry in 2020

CarGurus Study Uncovers How Pandemic Impacted Automotive Industry in 2020

The Covid-19 pandemic created a sort of pushmepullyou effect for auto sales in 2020 as financial concerns caused some consumers to delay or drop plans to buy a new vehicle, while others who had no plans at all to do so ended up making a purchase.

CarGurus Survey Reveals How Covid Changed Car Buyers' Behaviors

CAMBRIDGE, Mass., Dec. 03, 2020 (GLOBE NEWSWIRE) -- CarGurus, Inc. (Nasdaq: CARG), a leading global, online automotive marketplace, today announced that Jason Trevisan, Chief Financial Officer and President, International, is scheduled to present at the Raymond James Technology Investors Conference at 2:20 PM ET on December 8, 2020.

CarGurus to Present at Raymond James Technology Investors Conference

CarGurus, Inc. (CARG) CEO Langley Steinert on Q3 2020 Results - Earnings Call Transcript

LONDON, Nov. 06, 2020 (GLOBE NEWSWIRE) -- CarGurus (Nasdaq: CARG), the fastest growing online automotive marketplace in the UK1, today announced it will waive December marketplace subscription fees for dealers currently on CarGurus UK and PistonHeads platforms. The company is also offering free trials of its Area Boost product to its CarGurus' customers in December. The announcement comes on the heels of a second lockdown impacting dealers in parts of the UK.

News for CarGurus Stock (CARG)