CarGurus Plunges 7.95% After JPMorgan Downgrade

On April 7, 2025, CarGurus experienced a significant drop of 7.95% in pre-market trading, sparking concerns among investors and analysts alike.

JPMorgan Chase & Co. recently downgraded CarGurus from an "overweight" rating to a "neutral" rating, citing concerns about the company's future performance. The firm also lowered its target price for CarGurus from $42.00 to $34.00, reflecting a more cautious outlook on the stock's potential.

This downgrade comes at a time when the broader market is facing uncertainty, with various economic indicators pointing to potential headwinds for the automotive industry. The decision by JPMorgan Chase & Co. to lower its rating and target price for CarGurus is likely to have a ripple effect on investor sentiment, as the firm is known for its influential analysis and recommendations.