NEW YORK, Feb. 19, 2020 /PRNewswire/ -- Kaplan Fox & Kilsheimer LLP (www.kaplanfox.com) is investigating claims on behalf of investors of CarGurus, Inc. ("CarGurus" or the "Company") (Nasdaq: CARG).  Investors who purchased CarGurus securities may be affected.

On February 13, 2020, after the market closed, in connection with reporting fourth quarter and full-year 2019 results, the Company issued guidance reportedly below analysts' expectations, including expected first quarter 2020 revenue of between $156.5 million and $159.5 million and expected full year 2020 revenue of between $664 million and $676 million. 

On February 13, 2020, the Company also held a conference call during which CarGuru's CEO and CFO both represented that the Company had made the conscious decision to reduce ad load on the Company's site in an effort to improve the consumer experience, increase conversion, drive more leads to dealers and generate greater marketplace subscription revenue over time.  CarGuru's CFO also stated "this decision certainly means forgoing short term transactional advertising revenue."

Following this news, CarGuru's shares closed at $25.05, down 26.54%, on February 14, 2020.

If you purchased CarGuru shares and would like to discuss our investigation, please contact us by emailing pmayer@kaplanfox.com or by calling 800-290-1952. 

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.

Kaplan Fox & Kilsheimer LLP, with offices in New York, San Francisco, Los Angeles, Chicago and New Jersey, has many years of experience in prosecuting investor class actions. For more information about Kaplan Fox & Kilsheimer LLP, you may visit our website at www.kaplanfox.com.  If you have any questions about this investigation, your rights, or your interests, please contact:

Frederic S. Fox
KAPLAN FOX & KILSHEIMER LLP
850 Third Avenue, 14th Floor
New York, New York 10022
(800) 290-1952
(212) 687-1980
Fax: (212) 687-7714
E-mail: ffox@kaplanfox.com

Laurence D. King
KAPLAN FOX & KILSHEIMER LLP
1999 Harrison Street, Suite 1560
Oakland, California 94612
(415) 772-4700
Fax:  (415) 772-4707
E-mail: lking@kaplanfox.com

 

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SOURCE Kaplan Fox & Kilsheimer LLP