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CARG - CarGurus (Video): Stronger Than Expected Performance But Not Enough
CarGurus Inc.
Investment Thesis
CarGurus (CARG) has seen its share price substantially compress over the last six months. And although I do not believe there's substantial upside potential, at $2.8 billion market cap, I am less bearish on this investment than I've been for some time.
Having said that, the issues I had with CarGurus have not gone away entirely. Namely, its ability to revenue growth continues to decelerate. While at the same time, its maturing U.S. segment is nowhere near as profitable as it needs to be to support its present valuation.