Barrington analyst Gary Prestopino maintained a Buy rating on CDK Global (CDK) today and set a price target of $80. The company’s shares closed yesterday at $49.79, close to its 52-week low of $49.74.
Prestopino wrote:
“We believe that CDK’s stock price decline of over 12% after reporting Q1/19 results is unwarranted and has created a significant buying opportunity in the shares. We have an OUTPERFORM investment rating on the shares.”
According to TipRanks.com, Prestopino is a 1-star analyst with an average return of -1.8% and a 37.3% success rate. Prestopino covers the Services sector, focusing on stocks such as Kar Auction Services Inc, US Auto Parts Network, and Ritchie Bros.
CDK Global has an analyst consensus of Moderate Buy, with a price target consensus of $66, which is a 32.6% upside from current levels. In a report issued on November 7, Oppenheimer also maintained a Buy rating on the stock with a $67 price target.
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Based on CDK Global’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $90.3 million. In comparison, last year the company had a net profit of $81.3 million.
Based on the recent corporate insider activity of 52 insiders, corporate insider sentiment is negative on the stock.
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CDK Global, Inc. engages in the provision of integrated information technology and digital marketing solutions to the automotive retail industry. It operates through following segments: Retail Solutions North America, Advertising North America, and CDK International.
