CarGurus $CARG Stock Up On EPS and Revenue Beats

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CARG stock rose in morning trade on February 25, 2022, after the company reported EPS and revenue beats.

CarGurus Announces Fourth Quarter and Full-Year 2021 Results

CarGurus, Inc. (Nasdaq: CARG), a multinational, online automotive platform for buying and selling vehicles, today announced financial results for the fourth quarter and full-year ended December 31, 2021. CarGurus reported Q4 EPS of 43c versus the consensus estimate of 30c. The company reported Q4 revenue of $339.3M versus the consensus estimate of $279.89M.

Fourth Quarter Highlights:

Total revenue of $339.3 million, an increase of 124% year-over-year
GAAP operating income of $43.9 million; non-GAAP operating income of $76.3 million
GAAP consolidated net income of $34.2 million; non-GAAP consolidated net income of $61.5 million
GAAP net income attributable to CarGurus, Inc. of $29.6 million; non-GAAP net income attributable to common stockholders of $50.4 million
Consolidated Adjusted EBITDA of $80.3 million; Adjusted EBITDA of $67.6 million

Full-Year Year Highlights:

Total revenue of $951.4 million, an increase of 73% year-over-year
GAAP operating income of $148.3 million; non-GAAP operating income of $256.8 million
GAAP consolidated net income of $110.4 million; non-GAAP consolidated net income of $203.8 million
GAAP net income attributable to CarGurus, Inc. of $109.2 million; non-GAAP net income attributable to common stockholders of $185.4 million
Cash, cash equivalents and short-term investments of $321.9 million and no debt
Consolidated Adjusted EBITDA of $270.3 million; Adjusted EBITDA of $249.5 million

“2021 was a transformative year for CarGurus as we evolved from a listings business to a transaction-enabled marketplace providing valuable cross-platform synergies to both our dealer partners and our industry leading consumer audience,” said Jason Trevisan, Chief Executive Officer of CarGurus. “This was made possible with the acquisition of CarOffer, the launch of CarGurus Instant Max Cash Offer and the progression of our digital retail capabilities. These milestones were integral to the development of our end-to-end transaction-enabled marketplace. I’m thrilled to share that with these sizable new growth vectors and through the remarkable resiliency of our foundational listings business, CarGurus achieved exceptional results and exceeded our forecasted guidance for the fourth quarter and full-year 2021.”

📺 Why Not to Buy a Car from CarGurus

Why Not to Buy a Car from CarGurus

📉 CARG Stock Technical Analysis

Carg Stock

The short-term trend is negative, the long-term trend is neutral. CARG is one of the better-performing stocks in the Interactive Media & Services industry, it outperforms 92% of 79 stocks in the same industry. CARG is currently trading in the upper part of its 52-week range. The market is still in the middle of its 52-week range, so CARG slightly outperforms the market at the moment.

There is support zone ranging from 35.98 to 36.28. This zone is formed by a combination of multiple trend lines in the daily time frame. There is also a support zone ranging from 34.15 to 34.65. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames. Finally, there is a support zone ranging from 32.89 to 33.60. This zone is formed by a combination of multiple trend lines and important moving averages in multiple time frames.

The technical rating of CARG is bad and it also does not present a quality setup at the moment. CARG stock has a Setup Rating of 0 out of 10. Prices have been extended to the upside lately. For a nice entry it is better to wait for a consolidation. Click here to sign up for email alerts on when CARG stock consolidates and has a Setup Rating of 8 or higher.

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