In a report issued on September 13, Lee Krowl from B.Riley FBR maintained a Buy rating on Cars.com, Inc., with a price target of $18. The company’s shares closed last Monday at $10.94, close to its 52-week low of $8.23.
Krowl said:
“We believe the good initial uptake of the DI product across CARS’ existing customer base since the acquisition in 2018, coupled with the enhanced product offerings such as Social and Conversations, positions DI well relative to the three other approved site vendors. In terms of implications, we note that given the sales process of about 4-6 months for the DI product, revenue contribution is likely to be modest in 2019, and more of a driver in 2020.”
According to TipRanks.com, Krowl is a 5-star analyst with an average return of 37.7% and a 77.3% success rate. Krowl covers the Technology sector, focusing on stocks such as Digital Turbine Inc, Limelight Networks, and Rubicon Project.
Currently, the analyst consensus on Cars.com, Inc. is a Hold with an average price target of $15.13.
Source Smarter Analyst
AVERAGE ANALYSTS PRICE TARGET $
AVERAGE ANALYSTS RECOMMENDATION
P/R RATIO 80
SHORT INTEREST 18%
COMPANY PROFILE
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. The company was founded by Mitch Golub, William Swislow, and Alex Vetter in 1998 and is headquartered in Chicago, IL.
Krowl said:
“We believe the good initial uptake of the DI product across CARS’ existing customer base since the acquisition in 2018, coupled with the enhanced product offerings such as Social and Conversations, positions DI well relative to the three other approved site vendors. In terms of implications, we note that given the sales process of about 4-6 months for the DI product, revenue contribution is likely to be modest in 2019, and more of a driver in 2020.”
According to TipRanks.com, Krowl is a 5-star analyst with an average return of 37.7% and a 77.3% success rate. Krowl covers the Technology sector, focusing on stocks such as Digital Turbine Inc, Limelight Networks, and Rubicon Project.
Currently, the analyst consensus on Cars.com, Inc. is a Hold with an average price target of $15.13.
Source Smarter Analyst
AVERAGE ANALYSTS PRICE TARGET $
AVERAGE ANALYSTS RECOMMENDATION
P/R RATIO 80
SHORT INTEREST 18%
COMPANY PROFILE
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. The company was founded by Mitch Golub, William Swislow, and Alex Vetter in 1998 and is headquartered in Chicago, IL.