Freedom Broker Rates CarGurus (CARG) buy, $40 Price Target

Freedom Broker has reaffirmed its buy rating on CarGurus, setting a new price target of $40, a 36.24% upside from the current price.

By TradeTexts Research Desk · Published Jun 12, 2026, 9:10 PM EDT · Updated Jun 18, 2026, 10:01 AM EDT

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Freedom Broker rated CarGurus, Inc. ($CARG) "buy" with a $40 price target on June 12, 2026.

Since the rating, $CARG is up 10.7% after 1 week, up 24.2% after 1 month and up 11.4% to date (from the $27.17 close on Jun 12, 2026).

CARG CarGurus, Inc.

$30.28 -19.58% year to date

Daily close · Oct 16, 2026

Key Points

Freedom Broker reiterated its buy rating on CarGurus, Inc. with a new price target of $40.00, up from a previous target of $35.00.
Freedom Broker's $40 price target implies 36.24% upside from CarGurus, Inc.'s ($CARG) current $29.36 share price.
CarGurus shares closed at $29.36 on the NasdaqGS, significantly below the new target and near its 52-week low of $26.39.
The company's next earnings report is due on November 5, 2026, providing further insight into its performance.

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Freedom Broker's New Target for CarGurus

Freedom Broker has reiterated its buy rating on CarGurus, Inc. (CARG) with a new price target of $40.00, up from a previous target of $35.00. This change comes as the stock trades at $29.36, which is significantly below the new target and close to its 52-week low of $26.39.

Analysts Set New Price Targets

Dmitriy Pozdnyakov from Freedom Broker is optimistic about CarGurus, indicating a strong belief in the company's future performance. This new target reflects a positive outlook, especially as the stock is currently undervalued compared to the new price target.

Other analysts have also weighed in recently. On October 7, 2026, UBS maintained a Neutral rating with a target of $35.00, down from $40.00. Barclays has kept an Overweight rating, reducing its target from $41.00 to $38.00 on October 6. Citigroup also maintained a Neutral rating, raising its target from $32.00 to $39.00 on August 14. Oppenheimer has an Outperform rating with a target of $44.00, up from $38.00 on August 12. Needham maintains a Buy rating with a target of $44.00, slightly up from $43.00 on August 7.

Stock Performance and Market Context

CarGurus shares have been volatile, trading well below their 52-week high of $41.22. The stock's recent performance shows a mix of investor sentiment, with the current price of $29.36 indicating potential for recovery. The stock is trading below its 200-day moving average of $33.90, which may suggest that investors are cautious.

12-month forecast

$CARG price target

CarGurus, Inc. daily closes and this analyst's $40 target. Not advice.

Recent Insider Activity

On June 26, 2026, Javier Zamora, the General Counsel and Secretary of CarGurus, sold 3,532 shares at an average price of $32.63, totaling about $115,253. This transaction was part of a planned arrangement and does not necessarily indicate negative sentiment towards the company.

What CarGurus, Inc. Does

CarGurus, Inc. operates an online platform for buying and selling vehicles in the U.S. and internationally. The company connects a large audience of car shoppers with an extensive network of dealers, making the car buying process more efficient. The reaffirmation of the buy rating by Freedom Broker suggests confidence in CarGurus' business model and growth potential.

What’s Next for CarGurus

Looking ahead, investors will be watching for the upcoming earnings report on November 5, 2026, which will provide further insights into CarGurus' financial health. The recent 13F filings and analyst ratings also reflect a significant interest in the stock's future performance. As always, it's important to remember that the 13F filings represent past holdings and may not indicate current positions.