In a report released today, Gary Prestopino from Barrington maintained a Buy rating on Cars com Inc (NYSE: CARS). The company’s shares opened today at $27.24.
Prestopino said:
“We believe that traffic growth continued within the same trajectory as during Q3/18. Positive traffic growth should reduce dealer churn as it is a leading indicator of future engagement between vehicle purchasers and dealer customers through Cars.com.”
According to TipRanks.com, Prestopino is a 4-star analyst with an average return of 8.3% and a 53.4% success rate. Prestopino covers the Services sector, focusing on stocks such as Kar Auction Services Inc, US Auto Parts Network, and Liquidity Services.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Cars com Inc with a $34 average price target.
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Cars com Inc’s market cap is currently $1.91B and has a P/E ratio of 10.57. The company has a Price to Book ratio of 1.16.
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Cars.com, Inc. engages in the provision of automotive products and services through online automotive classifieds. It offers a digital automotive marketplace search engine which connects buyers and sellers. It also sells online subscription advertising products to car dealerships.
