{"contract": "sm-investment-case-1", "found": true, "available": true, "as_of": "2026-09-18", "checked_on": "2026-09-23", "listing": {"uuid": "ff5fd5b4-0829-4323-9ae6-1b8fa4a40ded", "symbol": "CARG", "name": "CarGurus", "exchange": "NASDAQ", "country": "US", "sector": "Consumer Cyclical", "industry": "Auto & Truck Dealerships"}, "business_type": "Operating company", "price": {"value": 33.21, "currency": "USD", "as_of": "2026-09-18", "basis": "Completed weekly quoted close; before dividends"}, "assessment": {"available": true, "rating": "Hold + Reduce", "target_price": 25.51, "target_date": "2027-09-16", "price_change_to_target_pct": -23.18, "currency": "USD", "reviewed_on": "2026-09-22", "explanation": "The central target is 23.2% below the price. The decline falls short of the 25% Sell requirement.", "assumptions": [{"name": "Starting annual sales growth", "value": 13.96, "unit": "percent"}, {"name": "Long-term operating margin", "value": 18.46, "unit": "percent"}]}, "review": {"status": "Published assessment", "last_checked": "2026-09-23T00:42:32.389122+00:00", "next_scheduled": "2026-12-21", "published_at": "2026-09-22T00:42:20.835115+00:00", "environment": "live", "publication_url": "https://sharemaestro.com/investment-case/record/4268/"}, "business_view": {"headline": "Lower valuation, stronger profitability.", "summary": "Year-to-date profit has improved, but the profit margin narrowed.", "case_for": [{"headline": "Year-to-date profit has improved", "explanation": "Across 2 completed quarters since 2025-12-31, net income was 81.4m versus 61.4m in the matching prior-year periods (USD). Check whether the latest quarter changes that direction.", "evidence_url": "https://sharemaestro.com/investment-case/ticker/ff5fd5b4-0829-4323-9ae6-1b8fa4a40ded/#ic-quarter-profit"}, {"headline": "More cash remains for each dollar of profit", "explanation": "Cash after capital spending / profit: 1.8\u00d7 for CARG, against 0.5\u00d7 across 11 comparable peers.", "evidence_url": "https://sharemaestro.com/investment-case/ticker/ff5fd5b4-0829-4323-9ae6-1b8fa4a40ded/#ic-peer-measures"}], "case_against": [{"headline": "The profit margin narrowed", "explanation": "The latest quarterly operating margin was 25.1%, -2.2 percentage points from a year earlier. Compare the sales and margin contributions below.", "evidence_url": "https://sharemaestro.com/investment-case/ticker/ff5fd5b4-0829-4323-9ae6-1b8fa4a40ded/#ic-profit-drivers"}, {"headline": "Compare the stock with its market", "explanation": "Over one year, the stock changed -11.1% against +14.8% for US stocks (SPY). The gap is -25.8 percentage points. These are price returns, before dividends.", "evidence_url": "https://sharemaestro.com/investment-case/ticker/ff5fd5b4-0829-4323-9ae6-1b8fa4a40ded/#ic-market-price"}]}, "watch_points": [], "financial_period": "2026-06-30", "next_results": "2026-11-05", "data_notes": ["Financial totals have been checked against their reporting periods. Only matching twelve-month figures are used; unsupported measures remain blank."], "canonical_url": "https://sharemaestro.com/investment-case/ticker/ff5fd5b4-0829-4323-9ae6-1b8fa4a40ded/", "pdf_url": "https://sharemaestro.com/investment-case/ticker/ff5fd5b4-0829-4323-9ae6-1b8fa4a40ded/download.pdf", "limitations": ["The published assessment stays fixed between governed reviews. Scenarios edited in the browser do not change it.", "Each financial period and price date is separate. Company coverage varies.", "Targets exclude dividends, fees and tax. A missing target is unavailable, not zero.", "Preview assessments are identified and do not establish a live performance record."], "disclaimer": "Automated model research, not personal investment advice. Targets depend on assumptions; returns are not guaranteed.", "revision": "65f83b8a9c2b5b157ac4088b8bcdc98b0cc09d765b9ce26b4c4c9538499ed7ce"}