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JMP Securities raised the firm’s price target on CarGurus (CARG) to $46 from $41 and keeps an Outperform rating on the shares. CarGurus has more clearly begun to monetize its marketplace platform in 2024, benefiting from positive trends, with durable web traffic and an increasingly important role for its mobile app in lead generation, the analyst tells investors in a research note. The firm sees potential upside to numbers as CarGurus improves its merchandising and packaging of its products and services.

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Read More on CARG:

• CarGurus price target raised to $42 from $30 at RBC Capital

• CarGurus price target raised to $40 from $30 at B. Riley

• CarGurus price target raised to $41 from $32 at JMP Securities

• DA Davidson analysts hold an analyst/industry conference call

• CarGurus price target raised to $38.50 from $26.50 at DA Davidson