Barrington Believes Cars (CARS) Still Has Room to Grow
In a report released today, Gary Prestopino from Barrington maintained a Buy rating on Cars (CARS), with a price target of $16.00. The company’s shares closed last Monday at $13.23, close to its 52-week high of $14.15.
According to TipRanks.com, Prestopino is a 5-star analyst with an average return of 44.7% and a 59.5% success rate. Prestopino covers the Services sector, focusing on stocks such as Points International, Kar Auction Services, and Liquidity Services.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Cars with a $14.25 average price target.
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Based on Cars’ latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $144 million and GAAP net loss of $12.26 million. In comparison, last year the company earned revenue of $152 million and had a GAAP net loss of $426 million.
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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. The firm also sells online subscription advertising products to car dealerships. The company was founded by Mitch Golub, William Swislow, and Alex Vetter in 1998 and is headquartered in Chicago, IL.