Cars com Inc Receives a Hold from Benchmark Co.

Benchmark Co. analyst Daniel Kurnos assigned a Hold rating to Cars com Inc (NYSE: CARS) today. The company’s shares closed on Friday at $24.42.

Kurnos said:

“We view social as both an ancillary and complimentary tool to the online automotive classified space; we have consistently stated that the vast majority of digital dollar shift over the past 5 years has gone to the Internet giants, and expect a similar share will continue in that fashion until spend gets rationalized via better ROI tools. We note that Cars does have a social product that fits with this announcement, and that a broader FB marketplace rollout to dealers sounds forthcoming following the integration of the DI chat platform. At this point, even though the headline risk would suggest increased competition for marketing dollars, a headline that is particularly challenging for Cars.com, we do not see Facebook as taking incremental share from Cars or any other player in the online auto classifieds category.”

According to TipRanks.com, Kurnos is a 5-star analyst with an average return of 11.0% and a 54.1% 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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Cars com Inc’s market cap is currently $1.75B and has a P/E ratio of 8.85. The company has a Price to Book ratio of 1.05.

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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.