Cargurus Inc. (CARG) saw its stock price plummet 5.00% during intraday trading on Monday, following negative analyst sentiment.
The decline came after DA Davidson lowered its price target on CarGurus to $33.50 from $37.50, while maintaining a Neutral rating on the shares. Analyst price target reductions often signal concerns about a company's future earnings potential or valuation, which can trigger selling pressure from investors.
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