CarGurus falls after Citizens downgrades to 'market perform' rating

CarGurus

02/07/2025 14:14

** Online auto marketplace CarGurus CARG.O shares down ~1.30% to $33.3 premarket

** Citizens downgrades CARG to "market perform" from "market outperform" rating, saying profit outperformance is likely to be limited

** Brokerage says CARG's dealer growth appears to be maturing, and dealer count is below 2019 levels

** Eight of 13 brokerages rate the stock "buy" or higher, five "hold"; their median PT is $40 - LSEG data

** As of last close, stock down ~7.7% YTD

(Reporting by Prakhar Srivastava in Bengaluru)

((Prakhar.srivastava2@thomsonreuters.com))