In a report released yesterday, Sameet Sinha from B.Riley FBR reiterated a Buy rating on Cars com Inc (NYSE: CARS), with a price target of $34. The company’s shares opened today at $27.92.
According to TipRanks.com, Sinha is a 4-star analyst with an average return of 6.1% and a 52.4% success rate. Sinha covers the Technology sector, focusing on stocks such as Digital Turbine Inc, Limelight Networks, and Alphabet Inc.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Cars com Inc with a $34 average price target, implying a 21.8% upside from current levels. In a report released yesterday, Barrington also assigned a Buy rating to the stock.
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Based on Cars com Inc’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $12.73 million. In comparison, last year the company had a net profit of $24.81 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.
