Why CarGurus’ Stock Is Lower Today

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Shares of online auto-sales marketplace CarGurus (NASDAQ: CARG) were trading lower on Friday, after the company’s fourth-quarter earnings and first-quarter guidance fell short of Wall Street’s expectations.

As of 1 p.m. EST, CarGurus’ shares were down about 9% from Thursday’s closing price.

CarGurus reported its fourth-quarter 2020 earnings after the market closed on Thursday, and while they weren’t bad, they weren’t great. Revenue of $151.55 million beat Wall Street’s consensus expectation number ($148.93 million), but its earnings of $0.22 per share fell short of analysts’ $0.27 average forecast.

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