CarGurus Inc. shares rallied more than 10% in the after-hours session Thursday after the online car-sales platform posted better-than-expected quarterly results and an adjusted profit guidance that was also above forecast.
Beyond analysts' top -and-bottom-line estimates for CarGurus (CARG), evaluate projections for some of its key metrics to gain a better insight into how the business might have performed for the quarter ended June 2024.
CarGurus (CARG) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
I wasn't keen on writing about used car stocks to buy. But then I read an article from early June in the Wall Street Journal that was an interesting take on used car sales.
CarGurus is poised for a rebound as the company has turned around its marketplace business. It is now back to growing paid dealership counts, after several quarters of decline. User traffic is also rebounding, especially as CarGurus improves its available car inventory shown on the site.