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].

Group 1 - CarGurus (CARG) is outperforming its peers in the Auto-Tires-Trucks sector with a year-to-date gain of approximately 16% compared to an average loss of 13.3% for the sector [4] - The Zacks Consensus Estimate for CarGurus' full-year earnings has increased by 19.5% over the past quarter, indicating a stronger analyst sentiment and improving earnings outlook [4] - CarGurus holds a Zacks Rank of 1 (Strong Buy), suggesting it has characteristics that may lead to outperformance in the market over the next one to three months [3] Group 2 - CarGurus is part of the Automotive - Replacement Parts industry, which ranks 9 in the Zacks Industry Rank, and this industry has experienced an average loss of 4.4% year-to-date [6] - General Motors (GM), another stock in the Auto-Tires-Trucks sector, has a year-to-date return of 29.3% and a Zacks Rank of 2 (Buy) [5] - The Automotive - Domestic industry, which includes General Motors, is ranked 141 and has seen a decline of 13% since the beginning of the year [7]

Company Overview - CarGurus, Inc. is an online automotive marketplace that connects buyers and sellers of new and used cars, utilizing proprietary technology, search algorithms, and data analytics [3]. - The company primarily operates in Canada, the United Kingdom, and Germany [3]. Industry Analysis - The Automotive – Replacement Parts industry is ranked in the Top 3% of the Zacks Industry Rank [4]. - Although CarGurus is categorized within this industry, its underlying business model may not fully align with traditional replacement parts companies [4]. Earnings Estimates - CarGurus has received a Zacks Rank 1 (Strong Buy) due to several analysts increasing their earnings estimates for the current and next year [4]. - Over the past thirty days, six analysts have raised their earnings estimates for the current year, while four have done so for the next year [4]. - The Zacks Consensus Estimate for the current year has increased from $1.45 to $1.62, and for the next year, it has risen from $1.75 to $1.88 [4]. Growth Projections - Current year EPS growth is projected at 31.71%, while next year's growth is estimated at 15.64% [5]. - This growth is occurring alongside a revenue contraction of 3.4% this year, with forecasted revenue growth of 8.2% next year [5].

Core Viewpoint - CarGurus (CARG) is positioned as a strong investment opportunity due to its improving earnings outlook and positive analyst sentiment, which is reflected in rising earnings estimates [1][2]. Estimate Revisions - The trend in estimate revisions indicates growing analyst optimism regarding CarGurus' earnings prospects, which is expected to positively influence its stock price [2]. - For the current quarter, CarGurus is projected to earn $0.43 per share, marking a year-over-year increase of +26.47%. The Zacks Consensus Estimate has risen by 23.23% over the last 30 days, with five estimates moving higher and no negative revisions [4]. - For the full year, the earnings estimate is $1.62 per share, representing a +31.71% change from the previous year. The consensus estimate has increased by 19.46%, with six estimates moving higher and no negative revisions [5]. Zacks Rank - CarGurus has achieved a Zacks Rank 1 (Strong Buy) due to favorable estimate revisions, which historically correlate with significant outperformance compared to the S&P 500 [6]. - Stocks with a Zacks Rank 1 and 2 are shown to significantly outperform the S&P 500, indicating strong potential for CarGurus [6]. Stock Performance - The stock has appreciated by 12.7% over the past four weeks, driven by strong estimate revisions and increased investor interest, suggesting further upside potential [7].

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][2]. Company Overview: CarGurus (CARG) - CarGurus currently holds a Momentum Style Score of A, indicating strong momentum characteristics [2]. - The company has a Zacks Rank of 1 (Strong Buy), suggesting a favorable outlook compared to the market [3]. Price Performance - Over the past week, CarGurus shares increased by 4.97%, outperforming the Zacks Automotive - Replacement Parts industry, which rose by 3.04% [5]. - In a longer timeframe, CARG's shares have appreciated by 12.74% over the past month, compared to the industry's 10.9% [5]. - Over the last quarter, CARG shares have surged by 21.59%, and over the past year, they have gained 55.48%, while the S&P 500 only increased by 5.9% and 29.32%, respectively [6]. Trading Volume - The average 20-day trading volume for CarGurus is 924,793 shares, which serves as a bullish indicator when combined with rising stock prices [7]. Earnings Outlook - In the last two months, 6 earnings estimates for CarGurus have been revised upwards, while none have been lowered, raising the consensus estimate from $1.45 to $1.62 [9]. - For the next fiscal year, 4 estimates have increased, while 2 have decreased during the same period [9]. Conclusion - Given the strong momentum indicators and positive earnings outlook, CarGurus is positioned as a 1 (Strong Buy) stock with a Momentum Score of A, making it a compelling investment option [9].

Core Viewpoint - CarGurus (CARG) has been upgraded to a Zacks Rank 1 (Strong Buy), indicating a positive outlook on its earnings estimates, which is a significant factor influencing stock prices [1][3]. Earnings Estimates and Stock Price Movement - The Zacks rating system emphasizes the importance of changing earnings estimates, which are strongly correlated with near-term stock price movements [4][6]. - Institutional investors often rely on earnings estimates to determine the fair value of stocks, leading to buying or selling actions that affect stock prices [4]. CarGurus Earnings Outlook - For the fiscal year ending December 2024, CarGurus is expected to earn $1.62 per share, reflecting a 31.7% increase from the previous year [8]. - Over the past three months, the Zacks Consensus Estimate for CarGurus has risen by 19.5%, indicating a positive trend in earnings expectations [8]. Zacks Rank System - The Zacks Rank system classifies stocks into five groups based on earnings estimates, with Zacks Rank 1 stocks historically generating an average annual return of +25% since 1988 [7]. - The upgrade of CarGurus to Zacks Rank 1 places it in the top 5% of Zacks-covered stocks, suggesting potential for higher stock prices in the near term [10].