DA Davidson analyst Tom White keeps his Buy rating and $53 price target on CarGurus after recently holding talks with its CEO and CFO. The analyst notes that the management was "very positive" about the trajectory of its business and he was " incrementally reassured" about both the near-term momentum of its financials as well as its long-term potential in areas such as international business and performance of "new products." White adds that while user growth may remain challenged due to tough comps and search engine changes, CarGurus remains optimistic in being able to drive further volume-based Average Annual Revenue per Subscribing Dealer metric.

Analyst White, along with Jeff Rubin, COO of Competition Auto Group, discusses the sector, specifically the use of digital advertising, third party sites CARS and CARG and inventory volatility on an Analyst/Industry conference call to be held on April 30 at 11 am.