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 $3.97, close to its 52-week low of $3.52.
According to TipRanks.com, Prestopino is ranked 0 out of 5 stars with an average return of -11.6% and a 31.9% success rate. Prestopino covers the Services sector, focusing on stocks such as US Auto Parts Network, Kar Auction Services, and Liquidity Services.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Cars with a $11.71 average price target, representing a 198.7% upside. In a report issued on March 9, BTIG also upgraded the stock to Buy with a $10.00 price target.
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Based on Cars’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $152 million and GAAP net loss of $4.11 million. In comparison, last year the company earned revenue of $164 million and had a net profit of $9.36 million.
Based on the recent corporate insider activity of 38 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 CARS 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.
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.
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