Wall Street analysts expect CarGurus (CARG - Free Report) to post quarterly earnings of $0.27 per share in its upcoming report, which indicates a year-over-year increase of 28.6%. Revenues are expected to be $215.65 million, down 49.4% from the year-ago quarter.
The consensus EPS estimate for the quarter has undergone a downward revision of 1.8% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
Given this perspective, it's time to examine the average forecasts of specific CarGurus metrics that are routinely monitored and predicted by Wall Street analysts.
The consensus among analysts is that 'Revenue- Marketplace' will reach $174.73 million. The estimate suggests a change of +5.7% year over year.
Analysts forecast 'Revenue- Wholesale' to reach $20.46 million. The estimate suggests a change of -56.5% year over year.
The collective assessment of analysts points to an estimated 'Revenue- Product' of $20.83 million. The estimate indicates a change of -90.3% from the prior-year quarter.
Analysts' assessment points toward 'Paying Dealers - Total' reaching 30,963. The estimate is in contrast to the year-ago figure of 31,286.
The average prediction of analysts places 'Quarterly Average Revenue per Subscribing Dealer (QARSD) - Consolidated' at $5,251.95. The estimate is in contrast to the year-ago figure of $5,800.
The combined assessment of analysts suggests that 'Paying Dealers - U.S' will likely reach 24,104. Compared to the present estimate, the company reported 24,691 in the same quarter last year.
Based on the collective assessment of analysts, 'Paying Dealers - International' should arrive at 6,868. Compared to the current estimate, the company reported 6,595 in the same quarter of the previous year.
View all Key Company Metrics for CarGurus here>>>
CarGurus shares have witnessed a change of -1.3% in the past month, in contrast to the Zacks S&P 500 composite's -1.1% move. With a Zacks Rank #3 (Hold), CARG is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
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With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
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Wall Street analysts expect CarGurus (CARG - Free Report) to post quarterly earnings of $0.27 per share in its upcoming report, which indicates a year-over-year increase of 28.6%. Revenues are expected to be $215.65 million, down 49.4% from the year-ago quarter.
The consensus EPS estimate for the quarter has undergone a downward revision of 1.8% in the past 30 days, bringing it to its present level. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.
Ahead of a company's earnings disclosure, it is crucial to give due consideration to changes in earnings estimates. These revisions serve as a noteworthy factor in predicting potential investor reactions to the stock. Numerous empirical studies consistently demonstrate a strong relationship between trends in earnings estimate revision and the short-term price performance of a stock.
While investors typically use consensus earnings and revenue estimates as indicators of quarterly business performance, exploring analysts' projections for specific key metrics can offer valuable insights.
Given this perspective, it's time to examine the average forecasts of specific CarGurus metrics that are routinely monitored and predicted by Wall Street analysts.
The consensus among analysts is that 'Revenue- Marketplace' will reach $174.73 million. The estimate suggests a change of +5.7% year over year.
Analysts forecast 'Revenue- Wholesale' to reach $20.46 million. The estimate suggests a change of -56.5% year over year.
The collective assessment of analysts points to an estimated 'Revenue- Product' of $20.83 million. The estimate indicates a change of -90.3% from the prior-year quarter.
Analysts' assessment points toward 'Paying Dealers - Total' reaching 30,963. The estimate is in contrast to the year-ago figure of 31,286.
The average prediction of analysts places 'Quarterly Average Revenue per Subscribing Dealer (QARSD) - Consolidated' at $5,251.95. The estimate is in contrast to the year-ago figure of $5,800.
The combined assessment of analysts suggests that 'Paying Dealers - U.S' will likely reach 24,104. Compared to the present estimate, the company reported 24,691 in the same quarter last year.
Based on the collective assessment of analysts, 'Paying Dealers - International' should arrive at 6,868. Compared to the current estimate, the company reported 6,595 in the same quarter of the previous year.
View all Key Company Metrics for CarGurus here>>>
CarGurus shares have witnessed a change of -1.3% in the past month, in contrast to the Zacks S&P 500 composite's -1.1% move. With a Zacks Rank #3 (Hold), CARG is expected closely follow the overall market performance in the near term. You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Zacks Names #1 Semiconductor Stock
It's only 1/9,000th the size of NVIDIA which skyrocketed more than +800% since we recommended it. NVIDIA is still strong, but our new top chip stock has much more room to boom.
With strong earnings growth and an expanding customer base, it's positioned to feed the rampant demand for Artificial Intelligence, Machine Learning, and Internet of Things. Global semiconductor manufacturing is projected to explode from $452 billion in 2021 to $803 billion by 2028.
See This Stock Now for Free >>
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