Carecom Receives a Rating Update from a Top Analyst

In a report released today, Scott Devitt from Stifel Nicolaus maintained a Hold rating on Carecom (NYSE: CRCM), with a price target of $20. The company’s shares opened today at $18.92.

Devitt commented:

“We are modestly raising our long-term revenue / adj. EBITDA estimates to reflect the reacceleration in the business as well as management’s continued execution in driving operational leverage. Our PT moves to $20 from $18. Revenue / Adj. EBITDA Top Expectations: Care.com revenue grew 9% y/y to $47.3mm, slightly above our $47.0mm estimate ($46.9mm consensus) and above the high-end of the guided range ($46.5mm-$47.0mm). U.S. Matching revenue increased 5% y/y driven by another solid quarter of paying member growth (up 9% y/y). Revenue from Care@Work grew 29% y/y during the quarter (following 38% growth in 4Q) driven by a combination of new customers and impressive revenue renewal rates (over 100%).”

According to TipRanks.com, Devitt is a top 100 analyst with an average return of 25.4% and a 75.9% success rate. Devitt covers the Services sector, focusing on stocks such as Blue Apron Holdings Inc, Booking Holdings Inc, and TripAdvisor Inc.

Carecom has an analyst consensus of Moderate Buy, with a price target consensus of $19.50.

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Carecom’s market cap is currently $482M and has a P/E ratio of 72.09. The company has a Price to Book ratio of 5.39.

Based on the recent corporate insider activity of 114 insiders, corporate insider sentiment is negative on the stock.

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Care.com, Inc. engages in the provision of an online marketplace, which enables customers to find and manage family care through connecting families to caregivers and care giving services. It offers child care, adult and senior care, pet care, and home care.