Cars.com's Q1 Results Reflect Continued Momentum, Barrington Says
03:54 PM EDT, 05/10/2021 (MT Newswires) -- Cars.com's (CARS) above-consensus Q1 results reflect continued operational improvement led by a bigger dealer base and ongoing product adoption resulting in revenue growth, Barrington Research said Monday in a research note.
Cars.com on Thursday said it swung to Q1 GAAP net income of $0.08 per diluted share from a per-share loss of $11.76 a year earlier. Analysts surveyed by Capital IQ were looking for a profit of $0.01 per share.
Revenue totaled $153.3 million in the quarter ended March 31, compared with $148.1 million last year. The Street was looking for $149.2 million.
For Q2, the company expects revenue to range from $152 million to $154 million and adjusted earnings before interest, taxes, depreciation, and amortization margins of 28% to 30%.
Barrington raised its adjusted EBITDA estimate on the company to $187 million from $172 million for 2021 and to $201 million from $192 million for 2022.
The investment firm also lifted its price target on the company to $25 from $16 while maintaining its outperform rating.
Price: 13.50, Change: -0.49, Percent Change: -3.50