CarGurus (CARG)


Market Price (8/3/2026): $36.24 | Market Cap: $3.4 BilSector: Communication Services | Industry: Interactive Media & Services

CarGurus (CARG)


Market Price (8/3/2026): $36.24
Market Cap: $3.4 Bil
Sector: Communication Services
Industry: Interactive Media & Services

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.

0

Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 16%

Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 28%

Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 32%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 29%

Attractive yield
FCF Yield is 7.9%

Low stock price volatility
Vol 12M is 39%

Megatrend and thematic drivers
Megatrends include E-commerce & Digital Retail. Themes include Online Marketplaces.

Weak multi-year price returns
3Y Excs Rtn is -2.6%

Weak revenue growth
Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -6.7%

Key risks
CARG key risks include [1] its significant reliance on dealer relationships in a highly competitive market and [2] the persistent underperformance of its Digital Wholesale segment.

0 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 16%
1 Attractive operating margins
Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is 28%
2 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 32%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 29%
3 Attractive yield
FCF Yield is 7.9%
4 Low stock price volatility
Vol 12M is 39%
5 Megatrend and thematic drivers
Megatrends include E-commerce & Digital Retail. Themes include Online Marketplaces.
6 Weak multi-year price returns
3Y Excs Rtn is -2.6%
7 Weak revenue growth
Rev Chg 3Y AvgRevenue Change % averaged over trailing 3 years is -6.7%
8 Key risks
CARG key risks include [1] its significant reliance on dealer relationships in a highly competitive market and [2] the persistent underperformance of its Digital Wholesale segment.

CARG in ETFs

Weight = CARG's share of each fund

ITOT0.00%
IWM0.09%
IJR0.15%
VB0.03%
IWO0.17%
IJT0.16%
SLYG0.15%
IJS0.15%
+11 more covered ETFs

Valuation & Metrics

Price Chart

Why The Stock Moved

Qualitative Assessment

AI Analysis | Feedback

Updated on 8/1/2026

CarGurus (CARG) stock has remained largely at the same level since 4/30/2026 because of the following key factors:

1. Strong Fiscal Q1 2026 Performance and Consistent Q2 2026 Guidance.

CarGurus reported robust financial results for its fiscal Q1 2026 (ended March 31, 2026) on May 7, 2026, with earnings per share (EPS) of $0.58, surpassing the consensus estimate of $0.56, and revenue of $243.56 million, exceeding expectations of $243.10 million and marking an 8.2% year-over-year increase. Following this, the company provided solid guidance for fiscal Q2 2026 (ended June 30, 2026), projecting an EPS range of $0.57 to $0.64 and revenue between $247 million and $252 million. This consistent financial performance and outlook contributed to investor confidence, stabilizing the stock.

2. Sustained Positive Analyst Sentiment.

Throughout the period, CarGurus maintained a "Moderate Buy" consensus rating from Wall Street analysts. As of August 1, 2026, the average analyst price target ranged from $38.55 to $38.56, suggesting a potential upside of approximately 4% to 10% from the stock's trading levels. This positive sentiment from the analyst community provided underlying support for the stock's valuation, preventing significant downward movement.

Show more
Updated on 8/1/2026

CarGurus (CARG) stock has remained largely at the same level since 4/30/2026 because of the following key factors:

1. Strong Fiscal Q1 2026 Performance and Consistent Q2 2026 Guidance.

CarGurus reported robust financial results for its fiscal Q1 2026 (ended March 31, 2026) on May 7, 2026, with earnings per share (EPS) of $0.58, surpassing the consensus estimate of $0.56, and revenue of $243.56 million, exceeding expectations of $243.10 million and marking an 8.2% year-over-year increase. Following this, the company provided solid guidance for fiscal Q2 2026 (ended June 30, 2026), projecting an EPS range of $0.57 to $0.64 and revenue between $247 million and $252 million. This consistent financial performance and outlook contributed to investor confidence, stabilizing the stock.

2. Sustained Positive Analyst Sentiment.

Throughout the period, CarGurus maintained a "Moderate Buy" consensus rating from Wall Street analysts. As of August 1, 2026, the average analyst price target ranged from $38.55 to $38.56, suggesting a potential upside of approximately 4% to 10% from the stock's trading levels. This positive sentiment from the analyst community provided underlying support for the stock's valuation, preventing significant downward movement.

3. Mixed Macroeconomic Conditions in the Automotive Market.

The broader automotive market experienced a mixed environment during the period. The overall U.S. light vehicle market contracted by approximately 3% in the first half of fiscal year 2026. However, new vehicle prices reached an all-time high, exceeding $52,000 in fiscal Q2 2026, with demand holding steady as consumers adjusted preferences toward affordability and fuel efficiency. High interest rates, averaging around 7% for financing, and elevated fuel costs, approximately $1.00 above pre-conflict levels, continued to influence buyer behavior, impacting overall market growth but also creating a stable demand for specific vehicle types like hybrids, which saw a 9% year-over-year sales increase in the first six months of 2026. These balanced macroeconomic factors likely limited significant upward or downward pressure on CarGurus' stock.

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Stock Movement Drivers

Fundamental Drivers

The -0.6% change in CARG stock from 4/30/2026 to 8/2/2026 was primarily driven by a -7.6% change in the company's Net Income Margin (%).
(LTM values as of)43020268022026Change
Stock Price ($)36.4636.24-0.6%
Change Contribution By: 
Total Revenues ($ Mil)8949253.5%
Net Income Margin (%)17.4%16.1%-7.6%
P/E Multiple22.322.92.6%
Shares Outstanding (Mil)95941.3%
Cumulative Contribution-0.6%

LTM = Last Twelve Months as of date shown

Market Drivers

4/30/2026 to 8/2/2026
ReturnCorrelation
CARG-0.6% 
Market (SPY)3.9%-0.3%
Sector (XLC)-7.1%46.2%

Fundamental Drivers

The 11.9% change in CARG stock from 1/31/2026 to 8/2/2026 was primarily driven by a 13.2% change in the company's Total Revenues ($ Mil).
(LTM values as of)13120268022026Change
Stock Price ($)32.4036.2411.9%
Change Contribution By: 
Total Revenues ($ Mil)81792513.2%
Net Income Margin (%)18.6%16.1%-13.4%
P/E Multiple20.922.99.2%
Shares Outstanding (Mil)98944.4%
Cumulative Contribution11.9%

LTM = Last Twelve Months as of date shown

Market Drivers

1/31/2026 to 8/2/2026
ReturnCorrelation
CARG11.9% 
Market (SPY)8.3%11.1%
Sector (XLC)-9.6%37.9%

Fundamental Drivers

The 10.4% change in CARG stock from 7/31/2025 to 8/2/2026 was primarily driven by a 230.6% change in the company's Net Income Margin (%).
(LTM values as of)73120258022026Change
Stock Price ($)32.8236.2410.4%
Change Contribution By: 
Total Revenues ($ Mil)79492516.5%
Net Income Margin (%)4.9%16.1%230.6%
P/E Multiple87.422.9-73.8%
Shares Outstanding (Mil)103949.6%
Cumulative Contribution10.4%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2025 to 8/2/2026
ReturnCorrelation
CARG10.4% 
Market (SPY)19.2%17.8%
Sector (XLC)1.8%35.5%

Fundamental Drivers

The 59.9% change in CARG stock from 7/31/2023 to 8/2/2026 was primarily driven by a 44.3% change in the company's Net Income Margin (%).
(LTM values as of)73120238022026Change
Stock Price ($)22.6636.2459.9%
Change Contribution By: 
Total Revenues ($ Mil)1,456925-36.5%
Net Income Margin (%)11.2%16.1%44.3%
P/E Multiple16.122.942.2%
Shares Outstanding (Mil)1159422.6%
Cumulative Contribution59.9%

LTM = Last Twelve Months as of date shown

Market Drivers

7/31/2023 to 8/2/2026
ReturnCorrelation
CARG59.9% 
Market (SPY)68.9%43.5%
Sector (XLC)62.3%45.0%

Return vs. Risk

Price Returns Compared

 202120222023202420252026Total [1]
Returns
CARG Return6%-58%72%51%5%-6%13%
Peers Return39%-28%240%59%20%8%593%
S&P 500 Return27%-19%24%23%16%9%98%

Monthly Win Rates [3]
CARG Win Rate58%33%58%58%58%57% 
Peers Win Rate60%40%58%52%57%40% 
S&P 500 Win Rate75%42%67%75%67%43% 

Max Drawdowns [4]
CARG Max Drawdown-35%-75%-28%-17%-38%-31% 
Peers Max Drawdown-28%-49%-33%-22%-32%-30% 
S&P 500 Max Drawdown-5%-25%-10%-8%-19%-9% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: CVNA, CARS, LAD, AN, PAG. See CARG Returns vs. Peers.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 7/31/2026 (YTD)

How Low Can It Go

EventCARGS&P 500
2025 US Tariff Shock
  % Loss-34.0%-18.8%
  % Gain to Breakeven51.4%23.1%
  Time to Breakeven177 days79 days
2024 Yen Carry Trade Unwind
  % Loss-11.3%-7.8%
  % Gain to Breakeven12.8%8.5%
  Time to Breakeven2 days18 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-25.0%-9.5%
  % Gain to Breakeven33.3%10.5%
  Time to Breakeven47 days24 days
2022 Inflation Shock & Fed Tightening
  % Loss-63.1%-24.5%
  % Gain to Breakeven171.1%32.4%
  Time to Breakeven749 days427 days
2020 COVID-19 Crash
  % Loss-42.5%-33.7%
  % Gain to Breakeven73.9%50.9%
  Time to Breakeven61 days140 days

Compare to CVNA, CARS, LAD, AN, PAG

In The Past

CarGurus's stock fell -34.0% during the 2025 US Tariff Shock. Such a loss loss requires a 51.4% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

EventCARGS&P 500
2025 US Tariff Shock
  % Loss-34.0%-18.8%
  % Gain to Breakeven51.4%23.1%
  Time to Breakeven177 days79 days
Summer-Fall 2023 Five Percent Yield Shock
  % Loss-25.0%-9.5%
  % Gain to Breakeven33.3%10.5%
  Time to Breakeven47 days24 days
2022 Inflation Shock & Fed Tightening
  % Loss-63.1%-24.5%
  % Gain to Breakeven171.1%32.4%
  Time to Breakeven749 days427 days
2020 COVID-19 Crash
  % Loss-42.5%-33.7%
  % Gain to Breakeven73.9%50.9%
  Time to Breakeven61 days140 days

Compare to CVNA, CARS, LAD, AN, PAG

In The Past

CarGurus's stock fell -34.0% during the 2025 US Tariff Shock. Such a loss loss requires a 51.4% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About CarGurus (CARG)

CarGurus, Inc. (CARG) operates as a prominent online automotive marketplace, serving as a vital intermediary that connects buyers and sellers of both new and used cars. The company's primary function is to provide a digital platform where consumers can easily search and browse extensive listings from its network of automotive dealers. Additionally, in the United States, CarGurus offers a service enabling individuals to sell their own vehicles directly through its marketplace.

The company's main products and services cater to two core customer segments. For consumers, CarGurus provides a comprehensive and intuitive online experience to research and discover vehicles, empowering them with information to make informed purchasing decisions. For automotive dealers, CarGurus serves as a powerful marketing and sales channel, offering unparalleled access to a large, informed, and engaged audience of potential car buyers, thereby driving lead generation and vehicle sales.

CarGurus primarily serves automotive markets in North America and Europe. Its flagship CarGurus brand maintains a strong presence in the United States, Canada, and the United Kingdom. To further expand its reach and market penetration, the company also operates other independent online marketplaces, including Autolist in the United States and PistonHeads in the United Kingdom, solidifying its position within the global digital automotive ecosystem.

AI Analysis | Feedback

Here are 1-3 brief analogies for CarGurus (CARG):

  • Zillow for cars

  • An eBay for new and used cars

AI Analysis | Feedback

  • Online Automotive Marketplace (for Buyers): A digital platform allowing consumers to search for and explore new and used car listings from various dealers.
  • Private Party Car Selling Service: A service that enables individual consumers to list and sell their personal vehicles directly to buyers.
  • Dealer Marketing and Listing Services: Provides automotive dealers with tools and exposure to list their inventory and connect with potential car buyers.

AI Analysis | Feedback

CarGurus (CARG) primarily serves other companies, specifically **car dealerships**.

These dealerships, which include both new car franchises and independent used car lots, pay CarGurus for subscription services to list their inventory, generate leads, and connect with potential buyers on CarGurus' online marketplaces. Since these are generally local or regional businesses, they are not typically publicly traded companies, and therefore do not have stock symbols.

While consumers also use the platform to search for and buy cars, and in some cases to sell their own cars, the primary revenue stream for CarGurus is derived from the services provided to these automotive dealerships.

AI Analysis | Feedback

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Jason Trevisan, Chief Executive Officer

Jason Trevisan joined CarGurus in 2015 as Chief Financial Officer and was appointed Chief Executive Officer in January 2021. Prior to his tenure at CarGurus, he spent twelve years at Polaris Venture Partners, where he became a General Partner in 2010, focusing on growth equity investments and buyouts in the internet, technology, and healthcare sectors. He previously held management positions at aQuantive, which was later acquired by Microsoft, and worked as a consultant at Bain & Company. As CFO of CarGurus, he played a pivotal role in guiding the company through its initial public offering (IPO) in 2017.

Elisa Palazzo, Chief Financial Officer

Elisa Palazzo was appointed Chief Financial Officer of CarGurus, effective December 4, 2023. She brings nearly two decades of experience in operating, investing, and transaction roles, with a focus on consumer and business-to-business marketplaces. Before joining CarGurus, she served as Deputy CFO and Senior Vice President of Finance at Talkspace, an online behavioral health services marketplace. Her involvement with Talkspace began in 2021 as part of Hudson Executive Capital's participation, where she was previously a Managing Director overseeing investments in consumer, online, and digital media companies. Earlier in her career, she held senior technology investment roles at various asset management institutions and worked as an investment banker at Credit Suisse.

Sam Zales, President & Chief Operating Officer

Sam Zales joined CarGurus in 2014 and serves as President and Chief Operating Officer, overseeing the company's revenue, go-to-market functions, and international business. He also leads CarGurus' digital wholesale business, including the CarOffer platform, which the company fully acquired in 2023. Before CarGurus, Zales held executive management positions at several technology companies, including serving as Chief Executive Officer of ClickSquared, Inc., and executive leadership roles at ZoomInfo and Buyerzone.com.

Langley Steinert, Founder & Executive Chairman

Langley Steinert founded CarGurus in 2006 and served as its Chief Executive Officer until January 2021, when he transitioned to the role of Executive Chairman. Prior to establishing CarGurus, he co-founded and was Chairman of TripAdvisor, Inc., an online travel marketplace. His earlier experience includes management roles at Viaweb, which was sold to Yahoo! Inc., Papyrus, and Lotus Development Corp. He is also a co-founder and Chairman of the Board at ApartmentAdvisor.

Ismail Elshareef, Chief Product Officer

Ismail Elshareef joined CarGurus in February 2024 as Chief Product Officer. He brings over 20 years of experience in building, scaling, and re-imagining platforms to address customer and business needs. Before CarGurus, he held the position of Chief Product Officer for OneFootball, where he focused on refining strategy for growth objectives. Prior to that, he served as Chief Product Officer at UpKeep, leading product, engineering, and infrastructure. His career also includes leadership roles at Ticketmaster and Edmunds.com.

AI Analysis | Feedback

The key risks to CarGurus' business (NASDAQ: CARG) are primarily centered around its reliance on its dealer network, intense competition in the online automotive marketplace, and vulnerability to macroeconomic fluctuations affecting the automotive industry.

  1. Dependence on Dealer Relationships and Intense Competition: CarGurus generates a substantial portion of its revenue from subscription fees paid by automotive dealers. Any termination of these agreements or consolidation among dealers could materially impact the company's financial performance. Furthermore, CarGurus operates in a highly competitive online automotive marketplace, contending with established players such as AutoTrader.com and Cars.com, as well as new online dealerships and AI-driven search engines. Maintaining its competitive edge necessitates continuous investment in product development and marketing to adapt to industry innovations and evolving consumer expectations.
  2. Sensitivity to Macroeconomic Factors and the Broader Automotive Industry: The automotive industry is inherently sensitive to prevailing economic conditions, including interest rates, inflation, and overall consumer confidence. A downturn in the broader economy or reduced credit availability can directly impact consumer demand for vehicles and dealer inventory levels, subsequently affecting CarGurus' business.
  3. Challenges and Wind-down in the Digital Wholesale Segment (CarOffer): CarGurus' CarOffer business segment has experienced a significant decline in revenue, leading to the company's decision to wind down its CarOffer transactions business. While CarGurus aims to continue providing AI-powered inventory intelligence, this transition is expected to incur expenditures and highlights ongoing challenges within this segment, posing a risk to future revenue and strategic focus.

AI Analysis | Feedback

The emerging trend of automotive manufacturers (OEMs) increasingly shifting towards direct-to-consumer sales, particularly for electric vehicles, poses a clear threat. If OEMs bypass traditional dealerships to sell new cars directly to consumers, it could diminish the role of third-party marketplaces like CarGurus, which primarily connect consumers with dealer inventories. This shift could lead to fewer new car listings from dealerships on CarGurus' platforms and fundamentally alter the automotive retail landscape CarGurus operates within.

AI Analysis | Feedback

CarGurus, Inc. (CARG) operates an online automotive marketplace for new and used cars and offers various software and data products to dealers in the United States, Canada, and the United Kingdom.

The addressable markets for CarGurus' main products and services in the specified regions are as follows:

  • United States Online Automotive Marketplace (New and Used Cars): The addressable market for new and used car sales in the United States is substantial.
    • The U.S. used car market size was valued at approximately USD 852.80 billion in 2025 and is estimated to grow to USD 871.30 billion in 2026.
    • New vehicle sales in the U.S. are projected to reach 15.8 million units in 2026. With an average new-vehicle retail transaction price expected to be around $44,750 in August 2025, the estimated value of the new car market in 2026 would be approximately $707.05 billion.
  • United States Dealer Software and Data Products: CarGurus is positioned to access an additional addressable market of approximately $4 billion spent by U.S. dealers on software and data products.
  • Canada Used Car Market: The used car market in Canada is projected to reach USD 228,480.3 million by 2030.
  • United Kingdom Online Automotive Marketplace: Specific market size figures for the overall online automotive marketplace or total new and used car market in the United Kingdom were not explicitly available in the provided information.

AI Analysis | Feedback

CarGurus (CARG) is expected to drive future revenue growth over the next two to three years through several key initiatives:

  1. Accelerated Launch and Adoption of AI-Driven Products and Services: CarGurus plans an accelerated pace of introducing new AI-driven products for both dealers and consumers. These innovations, such as PriceVantage (an AI-powered inventory pricing tool), CG Discover (a conversational search tool for shoppers), and Dealership Mode (an app feature tailored for dealer lots), are designed to enhance dealer workflows and consumer decision-making. These new offerings are expected to create significant new revenue streams and increase engagement, with monetized dealer products launched in 2025 projected to grow 15x and achieve eight-figure revenue in 2026.
  2. Continued International Expansion: The company's international business has demonstrated robust growth, with a 27% year-over-year revenue increase in 2025. This growth is attributed to accelerated dealer acquisition, expansion of wallet share, and strong lead generation in these markets. CarGurus maintains a strategic focus on international market acceleration to further fuel revenue.
  3. Growth in Paying Dealers and Increased Quarterly Average Revenue per Subscribing Dealer (QARSD): CarGurus is focused on both expanding its base of paying dealers and increasing the revenue generated from existing dealers. This involves driving subscription upgrades and encouraging broader adoption of its add-on products. In 2025, consolidated QARSD grew 8% year-over-year, indicating success in extracting more value from its dealer network through new initiatives.

AI Analysis | Feedback

Share Repurchases

  • CarGurus authorized a new $250 million share repurchase program in February 2026.
  • The company repurchased approximately $350 million of shares in 2025 under a prior authorization.
  • Approximately 10.6% of shares were retired for $350.01 million under the previous authorization.

Share Issuance

  • In March 2026, the Chief Product Officer was granted 58,574 restricted stock units (RSUs) as an equity award, vesting over time with no cash purchase price.

Outbound Investments

  • CarGurus wound down its CarOffer wholesale business in the fourth quarter of 2025, resulting in $13.3 million in related expenditures.
  • The company is refocusing on its core marketplace and international growth after ceasing CarOffer transactions.

Capital Expenditures

  • In the 12 months prior to February 2026, capital expenditures were -$6.38 million.
  • The company plans to invest in AI, technical development, international expansion, account management, and technology, which is expected to lead to a modest compression in adjusted EBITDA margins for 2026.

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Financials

CARGCVNACARSLADANPAGMedian
NameCarGurus Carvana Cars.com Lithia M.AutoNati.Penske A. 
Mkt Price36.2462.3611.85385.42212.40217.31137.38
Mkt Cap3.444.80.78.77.114.37.9
Rev LTM92525,05872437,93627,44832,91826,253
Op Inc LTM2582,237701,3851,2331,2441,238
FCF LTM269929136-50412592202
FCF 3Y Avg171761127-185-127709149
CFO LTM2971,120162-149293894295
CFO 3Y Avg2268861511451981,055212

Growth & Margins

CARGCVNACARSLADANPAGMedian
NameCarGurus Carvana Cars.com Lithia M.AutoNati.Penske A. 
Rev Chg LTM16.5%54.0%0.9%2.1%-0.1%0.6%1.5%
Rev Chg 3Y Avg-6.7%30.8%3.0%9.1%1.0%4.7%3.9%
Rev Chg Q14.8%52.4%0.7%2.2%-0.6%6.0%4.1%
QoQ Delta Rev Chg LTM3.5%11.3%0.2%0.6%-0.2%1.5%1.0%
Op Inc Chg LTM33.7%48.9%49.2%-10.2%-6.5%-11.1%13.6%
Op Inc Chg 3Y Avg39.3%156.5%5.5%-7.2%-11.4%-4.9%0.3%
Op Mgn LTM27.9%8.9%9.7%3.7%4.5%3.8%6.7%
Op Mgn 3Y Avg23.9%7.2%8.0%4.1%4.8%4.1%6.0%
QoQ Delta Op Mgn LTM-0.0%-0.3%1.4%0.0%-0.2%-0.1%-0.1%
CFO/Rev LTM32.1%4.5%22.4%-0.4%1.1%2.7%3.6%
CFO/Rev 3Y Avg27.5%5.3%21.1%0.4%0.7%3.3%4.3%
FCF/Rev LTM29.1%3.7%18.7%-1.3%0.0%1.8%2.8%
FCF/Rev 3Y Avg20.2%4.6%17.7%-0.5%-0.5%2.2%3.4%

Valuation

CARGCVNACARSLADANPAGMedian
NameCarGurus Carvana Cars.com Lithia M.AutoNati.Penske A. 
Mkt Cap3.444.80.78.77.114.37.9
P/S3.71.81.00.20.30.40.7
P/Op Inc13.220.09.96.35.811.510.7
P/EBIT13.2-344.39.44.94.79.37.1
P/E22.928.525.812.19.215.319.1
P/CFO11.540.04.3-58.324.316.013.7
Total Yield4.4%3.5%3.9%8.8%10.9%9.1%6.6%
Dividend Yield0.0%0.0%0.0%0.6%0.0%2.6%0.0%
FCF Yield 3Y Avg5.2%2.7%15.5%-3.2%-1.6%6.5%4.0%
D/E0.10.10.61.91.60.60.6
Net D/E0.00.10.61.91.60.60.6

Returns

CARGCVNACARSLADANPAGMedian
NameCarGurus Carvana Cars.com Lithia M.AutoNati.Penske A. 
1M Rtn0.0%-9.1%4.7%25.9%13.9%21.1%9.3%
3M Rtn-2.2%-18.5%7.0%32.8%1.1%29.1%4.1%
6M Rtn11.9%-22.3%4.3%19.6%3.6%41.0%8.1%
12M Rtn13.7%-15.2%-4.6%35.1%11.4%33.5%12.6%
3Y Rtn68.6%502.0%-44.2%30.4%33.5%36.8%35.2%
1M Excs Rtn3.0%-8.2%5.0%32.7%15.1%22.6%10.1%
3M Excs Rtn-4.5%-25.1%3.9%29.2%-3.9%23.9%0.0%
6M Excs Rtn2.3%-34.5%-5.8%10.8%-4.9%33.7%-1.3%
12M Excs Rtn-7.9%-24.2%-24.8%18.1%-7.2%17.0%-7.6%
3Y Excs Rtn-2.6%548.7%-110.7%-41.1%-27.9%-19.0%-23.4%

Financials

Segment Financials

Revenue by Segment
$ Mil20252024202320222021
Single Segment907    
Digital Wholesale 98216996314
Other revenue 63514542
U.S. Marketplace 734647614595
Total9078949141,655951


Operating Income by Segment
$ Mil2024202320222021
U.S. Marketplace183128126151
Other revenue101-8-10
Digital Wholesale-179-96-97
Total1333108148


Assets by Segment
$ Mil20252024202320222021
Single Segment662    
Digital Wholesale 109258358442
Other revenue 42534436
U.S. Marketplace 674607525454
Total662825919927932


Price Behavior

Price Behavior
Market Price$36.24 
Market Cap ($ Bil)3.4 
First Trading Date10/12/2017 
Distance from 52W High-7.1% 
   50 Days200 Days
DMA Price$31.76$33.79
DMA Trendindeterminatedown
Distance from DMA14.1%7.2%
 3M1YR
Volatility47.7%38.7%
Downside Capture-25.2568.24
Upside Capture-30.7267.86
Correlation (SPY)-0.6%17.8%
CARG Betas & Captures as of 7/31/2026

 1M2M3M6M1Y3Y
Beta0.170.13-0.010.350.541.12
Up Beta-4.13-0.46-0.29-0.800.111.06
Down Beta0.590.560.820.610.511.10
Up Capture179%81%-20%68%58%149%
Bmk +ve Days11223567138427
Stock +ve Days12253166128392
Down Capture81%-50%-28%68%78%104%
Bmk -ve Days11212859114326
Stock -ve Days10183260122354

[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with CARG
CARG9.9%38.6%0.33-
Sector ETF (XLC)2.7%14.8%-0.0335.3%
Equity (SPY)18.8%12.9%1.0717.9%
Gold (GLD)23.6%28.1%0.74-3.5%
Commodities (DBC)30.2%19.7%1.22-15.4%
Real Estate (VNQ)13.7%13.9%0.6917.6%
Bitcoin (BTCUSD)-46.8%43.0%-1.3420.4%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 5-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with CARG
CARG5.3%50.5%0.28-
Sector ETF (XLC)6.4%20.9%0.2247.2%
Equity (SPY)12.6%17.1%0.5648.0%
Gold (GLD)17.1%18.5%0.752.4%
Commodities (DBC)9.0%19.5%0.353.8%
Real Estate (VNQ)2.5%18.9%0.0339.0%
Bitcoin (BTCUSD)13.4%53.3%0.4323.0%

Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
Annualized
Return
Annualized
Volatility
Sharpe
Ratio
Correlation
with CARG
CARG2.9%50.6%0.26-
Sector ETF (XLC)8.9%22.2%0.4548.5%
Equity (SPY)15.0%17.9%0.7148.5%
Gold (GLD)11.3%16.1%0.573.9%
Commodities (DBC)7.3%18.0%0.3212.8%
Real Estate (VNQ)4.9%20.7%0.2039.4%
Bitcoin (BTCUSD)57.6%66.2%0.9816.3%

Smart multi-asset allocation framework can stack odds in your favor. Learn How

Short Interest

Short Interest: As Of Date7152026
Short Interest: Shares Quantity7.3 Mil
Short Interest: % Change Since 6302026-1.7%
Average Daily Volume1.3 Mil
Days-to-Cover Short Interest5.6 days
Basic Shares Quantity94.1 Mil
Short % of Basic Shares7.8%

Earnings Returns History

Updated 6/10/2026
Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
5/7/2026-8.9%-21.3%-27.9%
2/19/20263.3%6.2%15.1%
11/6/20250.6%9.3%12.0%
8/7/2025-7.3%1.1%14.4%
5/8/202511.2%17.7%14.6%
2/20/2025-17.1%-18.2%-19.9%
11/7/20244.3%7.6%13.5%
8/8/202420.3%26.0%21.4%
...
SUMMARY STATS   
# Positive141515
# Negative1099
Median Positive6.3%8.2%14.4%
Median Negative-7.7%-14.3%-19.9%
Max Positive44.0%35.3%28.3%
Max Negative-25.5%-21.3%-27.9%
Collapse to Preview
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
5/7/2026-8.9%-21.3%-27.9%
2/19/20263.3%6.2%15.1%
11/6/20250.6%9.3%12.0%
8/7/2025-7.3%1.1%14.4%
5/8/202511.2%17.7%14.6%
2/20/2025-17.1%-18.2%-19.9%
11/7/20244.3%7.6%13.5%
8/8/202420.3%26.0%21.4%
5/9/20248.7%6.8%16.6%
2/26/2024-1.5%-4.0%-3.0%
11/7/20234.4%10.7%16.2%
8/9/2023-6.1%-7.1%-4.6%
5/9/202314.9%17.5%25.8%
2/28/20236.4%1.1%5.3%
11/8/2022-7.9%5.7%-3.1%
8/8/2022-25.5%-20.7%-26.6%
5/9/2022-22.9%-17.4%-14.5%
2/24/202244.0%35.3%28.3%
11/9/20215.6%8.2%2.3%
8/5/20216.2%4.9%2.1%
5/6/202113.6%15.3%6.3%
2/11/2021-7.5%-14.3%-27.3%
11/5/20204.0%-0.2%9.3%
8/6/2020-5.7%-11.7%-27.2%
SUMMARY STATS   
# Positive141515
# Negative1099
Median Positive6.3%8.2%14.4%
Median Negative-7.7%-14.3%-19.9%
Max Positive44.0%35.3%28.3%
Max Negative-25.5%-21.3%-27.9%

SEC Filings

Expand for More
Report DateFiling DateFiling
03/31/202605/07/202610-Q
12/31/202502/19/202610-K
09/30/202511/06/202510-Q
06/30/202508/07/202510-Q
03/31/202505/08/202510-Q
12/31/202402/20/202510-K
09/30/202411/07/202410-Q
06/30/202408/08/202410-Q
03/31/202405/09/202410-Q
12/31/202302/26/202410-K
09/30/202311/07/202310-Q
06/30/202308/09/202310-Q
03/31/202305/09/202310-Q
12/31/202203/01/202310-K
09/30/202211/08/202210-Q
06/30/202208/08/202210-Q
Collapse to Preview
Report DateFiling DateFiling
03/31/202605/07/202610-Q
12/31/202502/19/202610-K
09/30/202511/06/202510-Q
06/30/202508/07/202510-Q
03/31/202505/08/202510-Q
12/31/202402/20/202510-K
09/30/202411/07/202410-Q
06/30/202408/08/202410-Q
03/31/202405/09/202410-Q
12/31/202302/26/202410-K
09/30/202311/07/202310-Q
06/30/202308/09/202310-Q
03/31/202305/09/202310-Q
12/31/202203/01/202310-K
09/30/202211/08/202210-Q
06/30/202208/08/202210-Q
03/31/202205/09/202210-Q
12/31/202102/25/202210-K
09/30/202111/09/202110-Q
06/30/202108/05/202110-Q
03/31/202105/07/202110-Q
12/31/202002/12/202110-K
09/30/202011/05/202010-Q
06/30/202008/06/202010-Q
03/31/202005/07/202010-Q
12/31/201902/14/202010-K
09/30/201911/05/201910-Q
06/30/201908/06/201910-Q

Recent Forward Guidance

Updated 7/27/2026

Latest: Q1 2026 Earnings Reported 5/7/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
Q2 2026 Total Revenue247.00 Mil249.50 Mil252.00 Mil2.7% Higher NewActual: 243.00 Mil for Q1 2026
Q2 2026 Non-GAAP Adjusted EBITDA from continuing operations77.50 Mil81.50 Mil85.50 Mil7.2% Higher NewActual: 76.00 Mil for Q1 2026
Q2 2026 Non-GAAP Earnings per Share from continuing operations0.570.60.6410.0% Higher NewActual: 0.55 for Q1 2026
2026 Revenue change YoY0.10.120.13 0.0%AffirmedGuidance: 0.12 for 2026
2026 Non-GAAP Adjusted EBITDA from continuing operations margin change YoY-2.5%-2.0%-1.5% 0.0%AffirmedGuidance: -2.0% for 2026

Prior: Q4 2025 Earnings Reported 2/19/2026

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
Q1 2026 Revenue240.50 Mil243.00 Mil245.50 Mil1.9% Higher NewGuidance: 238.50 Mil for Q4 2025
Q1 2026 Non-GAAP Adjusted EBITDA72.00 Mil76.00 Mil80.00 Mil-12.6% Lower NewGuidance: 87.00 Mil for Q4 2025
Q1 2026 Non-GAAP Earnings per Share0.520.550.58-14.1% Lower NewGuidance: 0.64 for Q4 2025
2026 Revenue Growth10.0%11.5%13.0%   
2026 Non-GAAP Adjusted EBITDA margin change-2.5%-2.0%-1.5% -2.0% 
2026 Share Repurchases 250.00 Mil    

Q3 2025 Earnings Reported 11/6/2025

Forward GuidanceGuidance Change
MetricLowMidHigh% Chg% DeltaChangePrior
Q4 2025 Marketplace Revenue236.00 Mil238.50 Mil241.00 Mil   
Q4 2025 Non-GAAP Marketplace Adjusted EBITDA83.00 Mil87.00 Mil91.00 Mil   
Q4 2025 Non-GAAP Earnings per Share0.610.640.67   
2025 Marketplace Revenue902.00 Mil904.50 Mil907.00 Mil   
2025 Non-GAAP Marketplace Adjusted EBITDA313.00 Mil317.00 Mil321.00 Mil   
2025 Non-GAAP Earnings per Share2.192.222.25   

Insider Activity

Updated 7/6/2026
Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Zamora, JavierGeneral Counsel and SecretaryDirectSell706202636.063,533127,4003,185,721Form
2Quinn, Matthew ToddChief Technology OfficerDirectSell706202635.033,824133,9558,167,104Form
3Hanson, Jennifer LaddChief People OfficerDirectSell706202635.0356719,8623,192,459Form
4Hanson, Jennifer LaddChief People OfficerDirectSell702202634.562,49986,3653,210,417Form
5Zamora, JavierGeneral Counsel and SecretaryDirectSell701202634.083,532120,3713,271,578Form
Collapse to Preview
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Zamora, JavierGeneral Counsel and SecretaryDirectSell706202636.063,533127,4003,185,721Form
2Quinn, Matthew ToddChief Technology OfficerDirectSell706202635.033,824133,9558,167,104Form
3Hanson, Jennifer LaddChief People OfficerDirectSell706202635.0356719,8623,192,459Form
4Hanson, Jennifer LaddChief People OfficerDirectSell702202634.562,49986,3653,210,417Form
5Zamora, JavierGeneral Counsel and SecretaryDirectSell701202634.083,532120,3713,271,578Form
6Zamora, JavierGeneral Counsel and SecretaryDirectSell629202632.633,532115,2533,247,733Form
7Zamora, JavierGeneral Counsel and SecretaryDirectSell603202629.538,072238,3963,043,775Form
8Sarnoff, DafnaChief Marketing OfficerDirectSell406202633.045,445179,9034,439,552Form
9Quinn, Matthew ToddChief Technology OfficerDirectSell406202633.044,341143,4278,131,078Form
10Hanson, Jennifer LaddChief People OfficerDirectSell406202633.0456718,7343,186,113Form
11Hanson, Jennifer LaddChief People OfficerDirectSell402202635.612,49988,9893,496,582Form
12Kaufer, Stephen DirectBuy304202632.5030,7661,000,03410,529,446Form
13Elshareef, IsmailChief Product OfficerDirectSell203202632.211,64552,9852,957,587Form
14Hanson, Jennifer LaddChief People OfficerDirectSell106202637.3652419,5771,855,410Form
15Sarnoff, DafnaChief Marketing OfficerDirectSell106202637.365,190193,8983,369,723Form
16Quinn, Matthew ToddChief Technology OfficerDirectSell106202637.365,056188,8927,254,677Form
17Hanson, Jennifer LaddChief People OfficerDirectSell105202638.102,35889,8401,922,755Form
18Trevisan, JasonChief Executive OfficerDirectSell1229202539.0216,548645,70324,601,447Form
19Trevisan, JasonChief Executive OfficerDirectSell1229202539.048,452329,96625,260,090Form
20Zales, SamuelCOO and PresidentDirectSell1217202538.3910,000383,90015,365,943Form
21Trevisan, JasonChief Executive OfficerDirectSell1210202537.0020,000740,00024,252,871Form
22Sarnoff, DafnaChief Marketing OfficerDirectSell1203202535.681,34648,0253,558,259Form
23Trevisan, JasonChief Executive OfficerDirectSell1112202535.0015,000525,00023,641,905Form
24Schwartz, Greg M DirectSell1112202535.065,000175,300398,878Form
25Zales, SamuelCOO and PresidentDirectSell1104202534.9810,000349,80014,350,860Form
26Elshareef, IsmailChief Product OfficerDirectSell1104202534.981,22842,9553,354,827Form
27Zales, SamuelCOO and PresidentDirectSell1017202534.9210,000349,20014,675,444Form
28Hanson, Jennifer LaddChief People OfficerDirectSell1003202537.7056721,3762,035,951Form
29Quinn, Matthew ToddChief Technology OfficerDirectSell1003202537.703,789142,8457,714,589Form
30Sarnoff, DafnaChief Marketing OfficerDirectSell1003202537.704,167157,0963,863,496Form
31Hanson, Jennifer LaddChief People OfficerDirectSell1002202536.889,998368,7262,021,282Form
32Zales, SamuelCOO and PresidentDirectSell918202536.0810,000360,80015,940,902Form
33Sarnoff, DafnaChief Marketing OfficerDirectSell903202534.051,34645,8313,828,276Form
34Elshareef, IsmailChief Product OfficerDirectSell805202532.101,22839,4193,235,520Form
35Zales, SamuelCOO and PresidentDirectSell805202532.2910,000322,90014,589,300Form
36Hallowell, Zachary EmersonCEO, CarOfferDirectSell718202533.841,73358,6453,960,803Form
37Zales, SamuelCOO and PresidentDirectSell718202533.8810,000338,80015,646,495Form
38Zamora, JavierGeneral Counsel and SecretaryDirectSell714202535.006,154215,3903,248,245Form
39Elshareef, IsmailChief Product OfficerDirectSell714202535.001,32546,3753,651,270Form
40Sarnoff, DafnaChief Marketing OfficerDirectSell703202533.094,168137,9193,811,405Form
41Quinn, Matthew ToddChief Technology OfficerDirectSell703202533.093,789125,3787,176,460Form
42Hallowell, Zachary EmersonCEO, CarOfferDirectSell703202533.094,369144,5704,023,215Form

Investor Activity (13F)

Updated Aug 3, 2026
13F holdings as of Mar 31, 2026 (Q1 2026)

Active managers (13F portfolio over $250M, at least 3 holdings) with a position over $5M that is either over 10% of their portfolio or held in a concentrated book of 50 or fewer total positions. Index/ETF, sovereign, bank, community-bank and charitable/donor-advised filers are excluded.

Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Prevatt Capital Ltd$84.3 Mil22.7%11ADD +12.5%13F
Alta Fox Capital Management, LLC$54.0 Mil14.3%9ADD +24.6%13F
Breach Inlet Capital Management, LLC$10.1 Mil3.3%12New13F
Broad Bay Capital Management, LP$24.6 Mil2.5%24New13F
Goodnow Investment Group, LLC$5.9 Mil0.6%29Hold13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Broad Bay Capital Management, LP$24.6 Mil2.5%24New13F
Breach Inlet Capital Management, LLC$10.1 Mil3.3%12New13F
Alta Fox Capital Management, LLC$54.0 Mil14.3%9ADD +24.6%13F
Prevatt Capital Ltd$84.3 Mil22.7%11ADD +12.5%13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
No Street GP LP$28.2 Mil1.9%33Exited13F
Active ManagerValue% of PortfolioTotal PositionsQoQFiling
Prevatt Capital Ltd$84.3 Mil22.7%11ADD +12.5%13F
Alta Fox Capital Management, LLC$54.0 Mil14.3%9ADD +24.6%13F
Broad Bay Capital Management, LP$24.6 Mil2.5%24New13F
Breach Inlet Capital Management, LLC$10.1 Mil3.3%12New13F
Goodnow Investment Group, LLC$5.9 Mil0.6%29Hold13F
Core Cache Last Updated: 8/2/2026