Benchmark Co. analyst Daniel Kurnos maintained a Hold rating on Cars com Inc (NYSE: CARS) today. The company’s shares closed yesterday at $25.13.
Kurnos said:
“We think this adds some incremental risk to the forecast, especially if the legacy core business continues to struggle. We do, however, still see a path to 20+% affiliate pricing growth via transition, which should help drive accelerating results over the balance of the year. For now, we are leaving our FY18 and FY19 forecasts unchanged, calling for 10.4% and 8% revenue growth, respectively, with EBITDA margin remaining flat at 34%. We acknowledge that there is significant variability in our model, with dealer count going to remain the key metric near-term, in our view.”
According to TipRanks.com, Kurnos is a 5-star analyst with an average return of 10.2% and a 52.3% success rate. Kurnos covers the Services sector, focusing on stocks such as Chicken Soup For The Soul Entertainment Inc, Sinclair Broadcast, and 1-800 Flowers.com.
Cars com Inc has an analyst consensus of Strong Buy, with a price target consensus of $35.50.
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Based on Cars com Inc’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $929K. In comparison, last year the company had a net profit of $26.89 million.
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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.
