Are You Looking for a Top Momentum Pick? Why CarGurus (CARG) is a Great Choice

Company Overview - CarGurus (CARG) currently holds a Momentum Style Score of B, indicating a positive momentum outlook for the company [3] - The company has a Zacks Rank of 2 (Buy), suggesting strong potential for outperformance in the market [4] Price Performance - Over the past week, CarGurus shares have increased by 2.38%, while the Zacks Automotive - Replacement Parts industry has declined by 2.28% [7] - In a longer time frame, CarGurus has seen an 11.81% price increase over the past month, outperforming the industry's 9.92% [7] - Over the last quarter, shares have risen by 23.56%, and over the past year, they have gained 68.89%, compared to the S&P 500's increases of 6.44% and 32.19%, respectively [8] Trading Volume - The average 20-day trading volume for CarGurus is 658,360 shares, which serves as a bullish indicator when combined with rising stock prices [9] Earnings Estimates - In the past two months, 3 earnings estimates for CarGurus have been revised upwards, while 1 has been revised downwards, leading to an increase in the consensus estimate from $1.62 to$1.66 [11] - For the next fiscal year, 4 estimates have moved higher, with 1 downward revision during the same period [11] Conclusion - Considering the positive price trends, trading volume, and upward revisions in earnings estimates, CarGurus is positioned as a 2 (Buy) stock with a Momentum Score of B, making it a potential candidate for near-term investment [12]