In a report released today, Lee Krowl from B.Riley FBR maintained a Buy rating on Cars.com, Inc. (CARS), with a price target of $18. The company’s shares closed yesterday at $11.82, close to its 52-week low of $10.30.
Krowl commented:
“Cars.com (CARS) missed 2Q results, lowered its 2019 outlook, and indicated that the strategic review yielded no outcome; shares traded down 34% during Monday’s trading (vs. NASDAQ Composite at -4%). For 2Q, revenue/AEBITDA came in at $148.2M/$43.5M versus our estimates of $157.5M/$41.2M and consensus at $160.6M/ $46.6M. Management indicated that despite strength in traffic (+16% Y/Y), weakness in Dealer churn in April along with further slowing in the National segment drove the miss. To reflect 2Q results along with a push-out of key OEM preferred certification programs, 2019 revenue guidance was lowered by 400 bps to -7.5% Y/Y growth (midpoint) while the AEBITDA margin outlook was cut by 250 bps to 28% (midpoint).”
According to TipRanks.com, Krowl is a 5-star analyst with an average return of 59.9% and a 64.3% success rate. Krowl covers the Technology sector, focusing on stocks such as Digital Turbine Inc, Limelight Networks, and Rubicon Project.
Cars.com, Inc. has an analyst consensus of Moderate Buy, with a price target consensus of $27.75, representing a 134.8% upside. In a report issued on August 2, Barrington also maintained a Buy rating on the stock with a $37.50 price target.
See today’s analyst top recommended stocks >>
Cars.com, Inc.’s market cap is currently $787.5M and has a P/E ratio of 85.90. The company has a Price to Book ratio of 0.50.
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.
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.