Cars (CARS) Receives a Buy from BTIG

By George MacDonald

In a report issued on July 5, Marvin Fong from BTIG reiterated a Buy rating on Cars (NYSE: CARS), with a price target of $10.00. The company’s shares closed last Thursday at $5.65, close to its 52-week low of $3.25.

Cars has an analyst consensus of Hold, with a price target consensus of $9.10.

According to TipRanks.com, Fong is a 4-star analyst with an average return of 11.8% and a 51.5% success rate. Fong covers the Technology sector, focusing on stocks such as Mercadolibre, Farfetch, and Upwork.

Based on Cars’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $148 million and GAAP net loss of $787 million. In comparison, last year the company earned revenue of $154 million and had a GAAP net loss of $9.03 million.

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.