Barrington analyst Gary Prestopino maintained a Buy rating on Cars com Inc (CARS) today. The company’s shares opened today at $23.88.
Prestopino commented:
“We view Cars.com’s Q4/18 results as showing continued progress on its transformation to a technology-driven automotive marketplace solutions provider. During Q4/18, Cars.com registered increases in average monthly unique visitors, traffic visits and mobile traffic, increases in monthly average revenue per dealer (ARPD), as well as success with new products including Inspire’s technology-driven website and digital retailing products. Growth in unique visitors and traffic is a leading indicator for increased consumer engagement with the Cars.com platform, while a focus on technology solutions is enriching the company’s product offering and should incentivize dealers to subscribe to the company’s solutions.”
According to TipRanks.com, Prestopino is a 1-star analyst with an average return of -0.3% and a 43.3% success rate. Prestopino covers the Services sector, focusing on stocks such as Kar Auction Services Inc, Payment Data Systems Inc, and US Auto Parts Network.
Currently, the analyst consensus on Cars com Inc is a Moderate Buy with an average price target of $34, a 42.4% upside from current levels. In a report issued on March 1, B.Riley FBR also reiterated a Buy rating on the stock with a $31 price target.
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The company has a one-year high of $32.94 and a one-year low of $20.14. Currently, Cars com Inc has an average volume of 984K.
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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.
