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.

Car dealers need used vehicles. Car buyers want to sell, but they're not crazy about walking into a dealership.

CarGurus Launches Tool To Bring Dealers, Buyers Together

Dealerships Gain Digital Inventory Acquisition Channel to Tackle Industry Shortages Dealerships Gain Digital Inventory Acquisition Channel to Tackle Industry Shortages

Consumers Can Sell Vehicles 100% Online with CarGurus Instant Max Cash Offer

CarGurus' data shows the average used vehicle price exceeded $28,269 in June, up 38.6% from a year earlier, while the average new vehicle sold for just under $42,000 in June, or 11.2% than a year earlier.

CarGurus Launches New Service To Connect Used Car Owners And Dealers

CAMBRIDGE, Mass., July 19, 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 second quarter ended June 30, 2021, after the close of the market on August 5, 2021.

CarGurus to Report Second Quarter 2021 Financial Results

Creative work highlights transparent experience, allowing car shoppers to find great deals Creative work highlights transparent experience, allowing car shoppers to find great deals

CarGurus Launches New TV Campaign in Canada, Putting Car Buying Confidence in the Limelight

Comfort with self-driving technology grows, but hesitations around safety and cost remain Comfort with self-driving technology grows, but hesitations around safety and cost remain

CarGurus Study Finds Over a Third of Car Shoppers Hope to Own an Autonomous Vehicle in Next Decade

CarGurus Study Finds Over a Third of Canadian Car Shoppers Hope to Own an Autonomous Vehicle in Next Decade

CarGurus' fundamental health has come bouncing back after a rough year impacted by the pandemic. Comps are about to look a lot easier for CarGurus; and its Q2 guidance implies nearly 2x y/y growth alongside beating Wall Street's consensus.

CarGurus: Ready To Rebound

Former PillPack Senior Executive Brings Strategic Operational Expertise to Automotive Marketplace Former PillPack Senior Executive Brings Strategic Operational Expertise to Automotive Marketplace

CarGurus, Inc. Appoints Yvonne Hao to Board of Directors

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CAMBRIDGE, Mass., May 25, 2021 (GLOBE NEWSWIRE) -- CarGurus, Inc. (Nasdaq: CARG), a leading global online automotive marketplace, announced that Jason Trevisan, Chief Executive Officer and Scot Fredo, Chief Financial Officer, are scheduled to virtually present at William Blair's 41st Annual Growth Stock Conference on Thursday, June 3rd at 2:20 PM ET.

CarGurus to Present at William Blair's 41st Annual Growth Stock Conference

More than 1,400 New Dealer Enrollments in March and April; Scott Johnston Named Chief Operating Officer More than 1,400 New Dealer Enrollments in March and April; Scott Johnston Named Chief Operating Officer

CarOffer's Dealer Enrollments Soar as its Instant Used Vehicle Trading Platform Provides Much Needed Inventory Supply

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CarGurus, Inc. (CARG) CEO Jason Trevisan on Q1 2021 Results - Earnings Call Transcript

Growth in average revenue per dealer and a strong U.S. market drove better-than-expected results.

CarGurus Stock Jumps by 13.6% After Strong Q1 Report

CarGurus (CARG) delivered earnings and revenue surprises of 43.48% and 8.19%, respectively, for the quarter ended March 2021. Do the numbers hold clues to what lies ahead for the stock?

CarGurus (CARG) Tops Q1 Earnings and Revenue Estimates

CarGurus Announces First Quarter 2021 Results

Former Amazon Executive to Lead CarGurus' Growing Digital Retail Business Unit Former Amazon Executive to Lead CarGurus' Growing Digital Retail Business Unit

CarGurus Hires Brad Rosenfeld as Executive Vice President of Digital Retail Commercialization

CarGurus, Inc. (CARG) could be a stock to avoid from a technical perspective, as the firm is seeing unfavorable trends on the moving average crossover front.

Moving Average Crossover Alert: CarGurus

CAMBRIDGE, Mass., April 22, 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 first quarter ended March 31, 2021, after the close of the market on May 6, 2021.

CarGurus to Report First Quarter 2021 Financial Results

‘CarGurus Convert' to Strengthen Dealerships' Digital Retail Capabilities ‘CarGurus Convert' to Strengthen Dealerships' Digital Retail Capabilities

CarGurus Announces Early Access for Dealerships to Preview Latest Digital Retail Offering

A new CarGurus study finds consideration for battery electric vehicles spiking, but consumers will only buy under certain conditions. Plus, Tesla's EV dominance may be short lived.

CarGurus Study Shows EV Consideration Soars, Tesla Dominance Challenged

Tesla once again atop most trusted EV brand; but most shoppers open to others Tesla once again atop most trusted EV brand; but most shoppers open to others

CarGurus Study Finds Over Half of Canadian Car Owners Plan to Invest in Electric Vehicles in the Next Ten Years

CarGurus' fortunes have been tied to the sagging sales of used car dealerships across the U.S. Dealers have had to deal with a plethora of issues, including store closures, constrained car supply, and increased e-commerce competition.

CarGurus: It May Feel Like Dumpster Diving, But This Stock Is A Diamond In The Rough

CarGurus is an automotive research and shopping website which assists users in comparing listings for used and new cars, and contacting sellers. The stock fell by 1.6% in the last week.

News for CarGurus Stock (CARG)