Wall Street analysts forecast that CarGurus (CARG) will report quarterly earnings of $0.61 per share in its upcoming release, pointing to a year-over-year increase of 10.9%. It is anticipated that revenues will amount to $238.31 million, exhibiting an increase of 4.3% compared to the year-ago quarter.
The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Before a company announces its earnings, it is essential to take into account any changes made to earnings estimates. This is a valuable factor in predicting the potential reactions of investors toward the stock. Empirical research has consistently shown a strong correlation between trends in earnings estimate revisions and the short-term price performance of a stock.
While investors usually depend on consensus earnings and revenue estimates to assess the business performance for the quarter, delving into analysts' forecasts for certain key metrics often provides a more comprehensive understanding.
Bearing this in mind, let's now explore the average estimates of specific CarGurus metrics that are commonly monitored and projected by Wall Street analysts.
Analysts predict that the 'Revenue- Marketplace' will reach $237.93 million. The estimate suggests a change of +13.2% year over year.
Analysts expect 'Paying Dealers - U.S' to come in at 25,935 . Compared to the present estimate, the company reported 24,692 in the same quarter last year.
The collective assessment of analysts points to an estimated 'Paying Dealers - International' of 8,021 . The estimate compares to the year-ago value of 7,318 .
Based on the collective assessment of analysts, 'Quarterly Average Revenue per Subscribing Dealer (QARSD) - Consolidated' should arrive at $6580.97 . The estimate is in contrast to the year-ago figure of $6144.00 .
It is projected by analysts that the 'Paying Dealers - Total' will reach 33,956 . The estimate compares to the year-ago value of 32,010 .
Analysts forecast 'Quarterly Average Revenue per Subscribing Dealer (QARSD) - International' to reach $2401.76 . Compared to the present estimate, the company reported $2072.00 in the same quarter last year.
The consensus estimate for 'Quarterly Average Revenue per Subscribing Dealer (QARSD) - United States' stands at $7837.80 . Compared to the current estimate, the company reported $7337.00 in the same quarter of the previous year.
View all Key Company Metrics for CarGurus here>>>
Over the past month, CarGurus shares have recorded returns of -20% versus the Zacks S&P 500 composite's -1.4% change. Based on its Zacks Rank #4 (Sell), CARG will likely underperform the overall market in the upcoming period. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>> .
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CarGurus, Inc. (CARG): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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