Cars.com, a major player in the digital automotive marketplace, has recently seen fluctuations in its stock performance and analyst ratings.
Various financial analysts have adjusted their target prices for the company. UBS Group has raised its target price to $20.00, JPMorgan Chase & Co. increased its target price to $21.00, Barrington Research reaffirmed an "outperform" rating with a target price of $25.00, and B. Riley lowered its target price to $26.00. These adjustments reflect the challenges in the automotive market.
Cars.com's stock has shown resilience, trading up recently with a market capitalization of $1.22 billion. The company reported earnings of $0.29 per share for the last quarter, falling short of expectations.
Institutional investors have been adjusting their positions in Cars.com, with Texas Permanent School Fund Corp and ProShare Advisors LLC increasing their stakes. The Manufacturers Life Insurance Company has also grown its stake. Institutional investors collectively own 89.15% of Cars.com's stock, indicating confidence in the company.
The interplay between analyst ratings, stock performance, and institutional investment will be crucial for Cars.com's future trajectory.