Zacks Investment Research upgraded shares of Autoweb (NASDAQ:AUTO) from a sell rating to a hold rating in a research note issued to investors on Wednesday morning.
According to Zacks, “AutoWeb, Inc. provides consumer leads and associated marketing services primarily to automotive dealers and manufacturers throughout the United States. It also provides consumers with robust and original online automotive content. AutoWeb Inc., formerly known as Autobytel Inc., is headquartered in Irvine, CA. “
Several other research analysts also recently commented on AUTO. ValuEngine raised Autoweb from a hold rating to a buy rating in a report on Friday, November 16th. B. Riley dropped their price objective on Autoweb from $3.70 to $3.20 and set a neutral rating on the stock in a research note on Tuesday, November 13th. Finally, Barrington Research reissued a hold rating on shares of Autoweb in a research note on Monday, November 5th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company presently has an average rating of Hold and an average target price of $4.60.
AUTO traded up $0.21 during midday trading on Wednesday, hitting $3.38. 24,105 shares of the company were exchanged, compared to its average volume of 23,938. The company has a market capitalization of $41.31 million, a PE ratio of 11.66 and a beta of -0.01. Autoweb has a 1-year low of $1.90 and a 1-year high of $9.50.
Autoweb (NASDAQ:AUTO) last announced its earnings results on Thursday, November 8th. The information services provider reported ($0.33) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.21) by ($0.12). The company had revenue of $31.70 million for the quarter, compared to analyst estimates of $30.74 million. Autoweb had a negative return on equity of 20.99% and a negative net margin of 78.46%. Equities research analysts forecast that Autoweb will post -1.1 EPS for the current fiscal year.
In other Autoweb news, Director Matias De Tezanos acquired 50,000 shares of the company’s stock in a transaction dated Friday, December 7th. The shares were bought at an average cost of $2.00 per share, with a total value of $100,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 30.60% of the stock is owned by insiders.
A hedge fund recently raised its stake in Autoweb stock. Macquarie Group Ltd. grew its holdings in Autoweb Inc (NASDAQ:AUTO) by 17.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 146,841 shares of the information services provider’s stock after purchasing an additional 21,395 shares during the quarter. Macquarie Group Ltd. owned about 1.14% of Autoweb worth $664,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 32.37% of the company’s stock.
AutoWeb, Inc operates as a digital marketing company for the automotive industry in the United States. It assists automotive retail dealers and manufacturers to market and sell new and used vehicles to consumers through its programs. The company's products include new vehicle lead program, which allows consumers to submit requests for pricing and availability of specific makes and models; and used vehicle lead program, which allows consumers to search for used vehicles according to search parameters, such as price, make, model, mileage, year, and location of the vehicle.
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