Barrington analyst Gary Prestopino assigned a Buy rating to CDK Global (NASDAQ: CDK) today and set a price target of $80. The company’s shares opened today at $63.32.
Prestopino commented:
“We are raising our investment rating to OUTPERFORM based on valuation and CDK’s change in investment theme to consistent growth and margin expansion within its highly leverageable network of dealers through market share gains, layered application sales and strategic acquisitions. Our price target is $80.”
According to TipRanks.com, Prestopino is a 3-star analyst with an average return of 5.3% and a 52.1% success rate. Prestopino covers the Services sector, focusing on stocks such as Kar Auction Services Inc, Liquidity Services, and Ritchie Bros.
CDK Global has an analyst consensus of Hold.
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Based on CDK Global’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $96.1 million. In comparison, last year the company had a net profit of $77.3 million.
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CDK Global, Inc. provides 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.
