Oppenheimer analyst Ian Zaffino maintained a Buy rating on CDK Global (CDK) yesterday and set a price target of $67. The company’s shares closed yesterday at $48.11, close to its 52-week low of $44.01.
Zaffino commented:
“Under the leadership of new CEO Brian Krzanich, the company has started to incorporate significantly more technology. Krzanich wants to transform CDK into the “Salesforce of dealerships” by tying third-party applications into its Fortellis suite; the integration of Lyft into its platform is an example. Near term, Krzanich is hyper- focused on CDK’s lower end, Drive Flex offering to stem share loss among one- to two-site dealers. CDK maintained its revenue/EBITDA/EPS growth targets of 4%-5%/8%-12%/15%-20%, which can be achieved through a combination of auto site wins, improved retention, software penetration and international growth. Maintain Outperform.”
According to TipRanks.com, Zaffino is a 1-star analyst with an average return of -2.3% and a 45.8% success rate. Zaffino covers the Services sector, focusing on stocks such as Servicemaster Global Holdings, Wyndham Hotels & Resorts Inc, and Wyndham Destinations Inc.
CDK Global has an analyst consensus of Moderate Buy, with a price target consensus of $66.
See today’s analyst top recommended stocks >>
The company has a one-year high of $76.04 and a one-year low of $44.01. Currently, CDK Global has an average volume of 1.15M.
Based on the recent corporate insider activity of 49 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of CDK in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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.
