Cars.com (CARS) PT Lowered to $23 at BTIG
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JPMorgan Downgrades Cars.com (CARS) to Neutral
August 9, 2024 5:42 AM EDTJPMorgan analyst Rajat Gupta downgraded Cars.com (NYSE: CARS) from Overweight to Neutral with a price target of $19.00 (from $25.00).
The analyst comments "We are moving to Neutral from Overweight on CARS shares after the companys 2Q24 results and 2H24 guide came in softer than JPMe and consensus estimates, with commentary around MARPD (monthly average revenue per dealer) and ancillary product adoption (particularly Accu-Trade) suggesting low visibility on growth re-acceleration, at a time... More
Cars.com Inc. (CARS) Misses Q2 EPS by 12c, provides guidance
August 8, 2024 7:33 AM EDTCars.com Inc. (NYSE: CARS) reported Q2 EPS of $0.33, $0.12 worse than the analyst estimate of $0.45. Revenue for the quarter came in at $178.9 million versus the consensus estimate of $181.86 million.
GUIDANCE:
Cars.com Inc. sees Q3 2024 revenue of $178-181 million, versus the consensus of $185.9 million. Dealer revenue is expected to grow year-over-year, reflecting greater adoption of the... More
