Core Viewpoint - CarGurus, Inc. will announce its financial results for Q3 2024 on November 7, 2024, after market close, followed by a conference call for investors and analysts [1][2] Company Overview - CarGurus is a leading online automotive platform for buying and selling vehicles, utilizing proprietary technology and data analytics to enhance the automotive shopping experience [3] - The company operates in the U.S., Canada, and the U.K., and is recognized as the most visited automotive shopping site in the U.S. [3][4] - CarGurus also manages independent online marketplaces such as Autolist in the U.S. and PistonHeads in the U.K. [3]

Core Insights - CarGurus has officially opened its new global headquarters in Boston, emphasizing its commitment to the region and modern workplace needs [1][2] - The new office spans approximately 225,000 square feet and consolidates nearly 1,000 employees from two separate locations in Cambridge [2] - The headquarters is designed to foster collaboration and innovation, featuring flexible workspaces and amenities that support a hybrid work culture [3][4] Company Overview - CarGurus is the leading digital platform for buying and selling vehicles, recognized for its industry-leading listings marketplace and digital retail solutions [5] - The company operates in the U.S., Canada, and the U.K., providing a trusted automotive shopping experience through proprietary technology and data analytics [5][6] - CarGurus is noted as the most visited automotive shopping site in the U.S. as of Q2 2024 [5]

Core Insights - The Q3 2024 Quarterly Review by CarGurus highlights a shift in consumer demand towards more affordable vehicles amid economic uncertainty and high interest rates [1][2] Group 1: Consumer Trends - Consumers are becoming more prudent with their spending, leading to increased demand for affordable cars, particularly in the price segments of $20,000 to $30,000 for new vehicles and $15,000 to $20,000 for used vehicles, which accounted for 43% and 59% of annual sales growth respectively [2] - The used car market is seeing significant growth in sales for vehicles priced at $30,000 and under, while sales of cars over $30,000 have declined [2] Group 2: Market Dynamics - Hybrids are outperforming electric vehicles (EVs) in 2024, with new hybrids making up nearly 11% of total retail sales compared to 4% for EVs, and hybrid retail sales volumes have increased by nearly 44% year-over-year [3] - There is a growing inventory of aging new cars on dealer lots, with about 58,000 listings being two years or older, representing a nearly 58% increase compared to pre-COVID averages [3] Group 3: Economic Influences - The upcoming presidential election may negatively impact vehicle sales demand, as historical data shows declines in sales during election years [3] - Recent interest rate cuts are expected to have a muted immediate effect on affordability, as auto loan rates typically follow longer-term treasury rates rather than the short-term Federal Funds Rate [3]

Group 1: Vertex, Inc. (VERX) - Vertex, Inc. is a tax technology solutions provider with a Zacks Rank of 1 [1] - The Zacks Consensus Estimate for its current year earnings has increased by 9.4% over the last 60 days [1] - The company has a PEG ratio of 6.57, significantly lower than the industry average of 44.22, and possesses a Growth Score of B [1] Group 2: CarGurus, Inc. (CARG) - CarGurus, Inc. operates as an online automotive marketplace and holds a Zacks Rank of 1 [2] - The Zacks Consensus Estimate for its current year earnings has risen by 11.7% over the last 60 days [2] - The company has a PEG ratio of 1.04, slightly above the industry average of 1.01, and possesses a Growth Score of A [2] Group 3: Unilever PLC (UL) - Unilever PLC is a fast-moving consumer goods company with a Zacks Rank of 1 [2][3] - The Zacks Consensus Estimate for its current year earnings has increased by 5.5% over the last 60 days [2] - The company has a PEG ratio of 1.94, lower than the industry average of 2.90, and possesses a Growth Score of B [3]

Group 1: Okta, Inc. (OKTA) - Okta is an identity solutions company with a Zacks Rank 1, indicating strong performance potential [1] - The Zacks Consensus Estimate for Okta's current year earnings has increased by 7.5% over the last 60 days [1] - Okta has a PEG ratio of 1.26, significantly lower than the industry average of 4.89, and possesses a Growth Score of B [1] Group 2: CarGurus, Inc. (CARG) - CarGurus operates as an online automotive marketplace and also holds a Zacks Rank 1 [2] - The Zacks Consensus Estimate for CarGurus' current year earnings has risen by 11.7% over the last 60 days [2] - CarGurus has a PEG ratio of 1.04, slightly below the industry average of 1.08, and has a Growth Score of A [2] Group 3: Pilgrim's Pride Corporation (PPC) - Pilgrim's Pride is a producer of fresh and frozen meat products, carrying a Zacks Rank 1 [3] - The Zacks Consensus Estimate for Pilgrim's Pride's current year earnings has increased by 12.7% over the last 60 days [3] - Pilgrim's Pride has a PEG ratio of 0.21, which is significantly lower than the industry average of 0.46, and possesses a Growth Score of A [3]

Core Viewpoint - Momentum investing focuses on following a stock's recent price trends, aiming to buy high and sell higher, with the expectation that established trends will continue [1] Company Summary: CarGurus (CARG) - CarGurus currently holds a Momentum Style Score of B, indicating a positive outlook based on price changes and earnings estimate revisions [2] - The company has a Zacks Rank of 1 (Strong Buy), suggesting strong potential for outperformance in the market [3] - Over the past week, CarGurus shares increased by 4.22%, while the Zacks Automotive - Replacement Parts industry saw a decline of 0.11% [5] - In a longer timeframe, CarGurus shares rose by 17.81% over the past quarter and 74.09% over the last year, significantly outperforming the S&P 500's increases of 5.62% and 34.34%, respectively [6] - The average 20-day trading volume for CarGurus is 755,533 shares, indicating a bullish trend when combined with rising stock prices [7] Earnings Outlook - In the past two months, 6 earnings estimates for CarGurus have been revised upwards, increasing the consensus estimate from $1.45 to $1.62 [9] - For the next fiscal year, 4 estimates have moved up while 2 have been revised down, reflecting a generally positive earnings outlook [9]

Group 1: KT Corporation - KT Corporation is a telecommunications and platform services company with a Zacks Rank 1 [1] - The Zacks Consensus Estimate for its current year earnings has increased by 3.9% over the last 60 days [1] - The company has a PEG ratio of 0.73, which is lower than the industry average of 1.04, and possesses a Growth Score of B [1] Group 2: CarGurus, Inc. - CarGurus, Inc. is an online automotive marketplace with a Zacks Rank 1 [2] - The Zacks Consensus Estimate for its current year earnings has increased by 11.7% over the last 60 days [2] - The company has a PEG ratio of 1.05, slightly below the industry average of 1.08, and possesses a Growth Score of A [2] Group 3: Pilgrim's Pride Corporation - Pilgrim's Pride Corporation is a producer of fresh and frozen meat products with a Zacks Rank 1 [3] - The Zacks Consensus Estimate for its current year earnings has increased by 12.7% over the last 60 days [3] - The company has a PEG ratio of 0.21, significantly lower than the industry average of 0.47, and possesses a Growth Score of A [3]

Group 1: CarGurus (CARG) - CarGurus is an online automotive marketplace connecting buyers and sellers of new and used cars [1] - The company has a Zacks Rank of 1 (Strong Buy) [1] - The Zacks Consensus Estimate for its current year earnings has increased by 11.7% over the last 60 days [1] - CarGurus has a PEG ratio of 1.03 compared to the industry average of 1.08 [1] - The company possesses a Growth Score of A [1] Group 2: Norwegian Cruise Line (NCLH) - Norwegian Cruise Line is a leading cruise line operator [2] - The company also carries a Zacks Rank of 1 (Strong Buy) [2] - The Zacks Consensus Estimate for its current year earnings has increased by 12.1% over the last 60 days [2] - Norwegian Cruise Line has a PEG ratio of 0.24 compared to the industry average of 1.66 [2] - The company possesses a Growth Score of A [2] Group 3: Charles River Associates (CRAI) - Charles River Associates is one of the leading global consulting firms [3] - The company holds a Zacks Rank of 1 (Strong Buy) [3] - The Zacks Consensus Estimate for its current year earnings has increased by 12.0% over the last 60 days [3] - Charles River Associates has a PEG ratio of 1.49 compared to the industry average of 1.83 [3] - The company possesses a Growth Score of B [3]

Group 1: CarGurus (CARG) - CarGurus is an online automotive marketplace connecting buyers and sellers of new and used cars, with a Zacks Rank 1 (Strong Buy) [1] - The Zacks Consensus Estimate for CarGurus' current year earnings has increased by 11.7% over the last 60 days [1] - The company has a PEG ratio of 1.02, which is lower than the industry average of 1.08, and possesses a Growth Score of A [1] Group 2: Norwegian Cruise Line (NCLH) - Norwegian Cruise Line is a leading cruise line operator, also holding a Zacks Rank 1 [2] - The Zacks Consensus Estimate for Norwegian Cruise Line's current year earnings has risen by 9.9% over the last 60 days [2] - The company has a PEG ratio of 0.23, significantly lower than the industry average of 1.85, and possesses a Growth Score of A [2] Group 3: Powell Industries (POWL) - Powell Industries is a metal-working shop supporting petrochemical facilities, with a Zacks Rank 1 [3] - The Zacks Consensus Estimate for Powell Industries' current year earnings has increased by 32.9% over the last 60 days [3] - The company has a PEG ratio of 0.97, compared to the industry average of 1.45, and possesses a Growth Score of B [3]

Company Overview - CarGurus, Inc. is a leading digital automotive platform for buying and selling new and used vehicles, recognized as the most visited automotive shopping site in the U.S. [3] - The company operates in multiple countries, including Canada and the U.K., and manages independent online marketplaces such as Autolist and PistonHeads [3]. Upcoming Event - Elisa Palazzo, the Chief Financial Officer of CarGurus, is scheduled to participate in a fireside chat at Citi's 2024 Global TMT Conference on September 5, 2024, at 3:00 PM ET [1]. - A webcast of the event will be available on the Investor Relations page of the company's website, with an archive accessible for 30 days post-event [2]. Business Model and Technology - CarGurus utilizes proprietary technology, search algorithms, and data analytics to enhance the automotive shopping experience by providing trust, transparency, and competitive pricing [3]. - The platform empowers consumers to buy or sell vehicles online or in-person and enables dealerships to price, market, acquire, and sell vehicles effectively [3].