Autoweb (AUTO) Upgraded to “Buy” by Zacks Investment Research

Zacks Investment Research upgraded shares of Autoweb (NASDAQ:AUTO) from a hold rating to a buy rating in a research note released on Wednesday, Zacks.com reports. Zacks Investment Research currently has $3.50 price objective on the information services provider’s stock.

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 equities analysts have also recently issued reports on the company. B. Riley upgraded Autoweb from a neutral rating to a buy rating and raised their price target for the company from $3.20 to $5.00 in a report on Friday, March 8th. ValuEngine cut Autoweb from a buy rating to a hold rating in a report on Saturday, February 23rd. Finally, Barrington Research reiterated a hold rating on shares of Autoweb in a report on Monday, May 6th.

Autoweb stock opened at $3.67 on Wednesday. The stock has a market capitalization of $48.24 million, a P/E ratio of -3.34 and a beta of 0.07. Autoweb has a 12-month low of $1.90 and a 12-month high of $5.00. The company has a current ratio of 1.64, a quick ratio of 1.75 and a debt-to-equity ratio of 0.08.

Autoweb (NASDAQ:AUTO) last posted its quarterly earnings results on Thursday, March 7th. The information services provider reported ($0.28) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.29) by $0.01. The business had revenue of $32.25 million for the quarter, compared to analysts’ expectations of $29.27 million. Autoweb had a negative return on equity of 40.01% and a negative net margin of 27.15%. As a group, equities analysts predict that Autoweb will post -0.52 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the stock. Ridgewood Investments LLC bought a new position in Autoweb in the first quarter valued at about $45,000. Bank of New York Mellon Corp boosted its holdings in Autoweb by 17.9% during the fourth quarter. Bank of New York Mellon Corp now owns 76,454 shares of the information services provider’s stock worth $233,000 after buying an additional 11,634 shares during the last quarter. BlackRock Inc. boosted its holdings in Autoweb by 29.6% during the fourth quarter. BlackRock Inc. now owns 303,587 shares of the information services provider’s stock worth $925,000 after buying an additional 69,364 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in Autoweb by 10.0% during the first quarter. Renaissance Technologies LLC now owns 387,190 shares of the information services provider’s stock worth $1,464,000 after buying an additional 35,200 shares during the last quarter. Institutional investors and hedge funds own 22.76% of the company’s stock.

About Autoweb

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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