In a report released today, Sameet Sinha from B.Riley FBR maintained a Hold rating on AutoWeb Inc (AUTO), with a price target of $3.20. The company’s shares opened today at $2.30, close to its 52-week low of $2.10.
Sinha observed:
“AutoWeb (AUTO) reported a 3Q beat as traffic and dealer count improved Q/Q. 3Q Revenue/PF EPS came in at $31.7M/$(0.19) versus our estimates of $29.9M/$(0.14) and consensus $31.2M/ $(0.13). Traffic acquisition cost (TAC) remained a headwind pressuring GM, however, new search strategies (segmentation vs. keywords) and lower pricing for Clicks, drove an improvement in both traffic and leads Q/Q. Management completed its comprehensive strategic review which included a $11.0M impairment charge and $1.1M in expenses due to headcount restructuring. The company released several new metrics to track the turnaround effort, but it is clear that the strategy will entail significant re-development of the relatively out-dated tech platform.”
According to TipRanks.com, Sinha is a 4-star analyst with an average return of 4.4% and a 49.2% success rate. Sinha covers the Technology sector, focusing on stocks such as Digital Turbine Inc, Limelight Networks, and Brightcove Inc.
Currently, the analyst consensus on AutoWeb Inc is a Hold with an average price target of $3.20, implying a 39.1% upside from current levels. In a report issued on November 5, Barrington also maintained a Hold rating on the stock.
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The company has a one-year high of $9.91 and a one-year low of $2.10. Currently, AutoWeb Inc has an average volume of 37.84K.
Based on the recent corporate insider activity of 15 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of AUTO in relation to earlier this year.
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AutoWeb, Inc. engages in digital marketing solutions. It specializes in assisting automotive retail dealers and automotive manufacturers market and sell new and used vehicles to consumers by utilizing digital sales enhancing products and services.
