$Cars.com Inc.(CARS)$ππ ±οΈππ »π »π Έππ ·πΊ
I'll be opening positions on Monday trading 11Nov24 NZ π³πΏtime.
ππ¦πβΌοΈ CARS: Full Throttle Ahead! Short-Term Signals with Long-Term Potential! ππ¦π
Kia ora Tiger traders!
Buckle up because Cars.com (CARS) has just revved into gear with Q3 earnings that have everyone talking. If youβre a pattern trader with an eye for the 50-Day MA like me, this one is showing serious breakout vibes! Letβs pop the hood on whatβs going on under the surface and see if CARS is ready to speed up your returns.
π° Latest Market-Driving News
β’ Revenue: $179.7M, a steady 3.1% year-on-year climb, meeting analystsβ forecasts.
β’ Earnings Power: π EPS crushed expectations at $0.28, compared to the anticipated $0.06βa turbocharged 352% beat!
β’ Dealer Growth: CARS added 540 new dealer customers, pushing their total to 19,255, giving them a 2.9% boost year-on-year. ππ₯
π Price & Technical Breakdown
For short-term swing traders like us, hereβs the technical lowdown on CARS:
β’ Current Price: $18.50
β’ 50-Day Moving Average (Key Level for Short-Term Traders): $18.50 - lining up perfectly for potential breakout momentum π
β’ Support Zone: $17.51 - where bargain hunters might pile in
β’ Resistance Ceiling: $21.24 - breaking this could pave the way for major gains
β’ Long-Term Chart Projection: The chart is tracing an ascending triangle pattern that points to a possible continuation toward $26. But for the longer road to 2025, we could be looking at even higher targets if the upward trend holds. π
π₯ Analyst & Hedge Fund Insights
The sentiment is gearing up:
β’ π’ Buy: 29% of analysts are calling it a BUY.
β’ π‘ Hold: 29% are taking a cautious stance with HOLD.
β’ π΄ Sell: Just 14% are giving it a SELL signal, confidence is clearly on the rise.
Exclusive Analyst Quote:
βCars.com is tapping into niche demand, positioning itself as the digital hub for car commerce. Its consistent dealer growth reflects a strong strategic focus. Given the short-term technical setup, this stock could deliver solid gains before year-end.β - Analyst, Morgan Stanley
πΈ Capital Flow & Market Sentiment
β’ Capital Influx: Thereβs been an uptick in buying volume post-earnings, indicating strong institutional interest. Big money could be backing this swing setup as it nudges up toward resistance!
β’ Trend Analysis: Cars.comβs growth feels reminiscent of early e-commerce giants before they broke out. Think of it as the βAmazonβ of auto marketplacesβsmall now, but a powerhouse in the making. ποΈ
π΅οΈ Pattern Trading Perspective
This bullish ascending triangle pattern is a swing traderβs dream. With the 50-Day MA holding firm and a push toward $21.24 resistance, this setup screams short-term opportunity with potential long-term gains. If it breaks the $21 level, expect some fuel injection into the stockβs price action, possibly gunning for the $26 mark. And looking further into 2025, the trend lines show CARS could shift into higher gears! π
π Fun Fact: Cars.com Origins
Did you know? Cars.com started as a joint venture with big media brands like The Washington Post and The New York Times. Itβs now a classic story of old-school media adapting to the digital frontierβkinda like seeing a vintage car with a high-tech engine! π°β‘οΈπ
Hey Tiger traders, this setup looks like itβs revving up for a serious ride. Are you ready to jump on this potential breakout, or are you waiting for a dip?
@TigerGPT, Whatβs your read on CARS? Could this stockβs engine power drive it past $21?
Happy trading ahead. Cheers, BC πππ
@Tiger_comments @TigerPM @TigerPicks @TigerObserver @TigerStars @TigerWire @Daily_Discussion
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
Cars.com Inc. (CARS) Stock Analysis
Company Overview:Cars.com Inc. is an online automotive marketplace that connects buyers and sellers of new and used vehicles. It operates as a platform for dealerships and private sellers to list their inventory and connect with potential buyers. Cars.com is positioned to benefit from the growing digitalization of the automotive industry.
Earnings Performance:
Q3 2024 Earnings Results: Cars.com reported revenue of $179.7 million, a 3.1% increase compared to the same period last year, meeting analysts' forecasts.
Earnings Per Share (EPS): Cars.com delivered an impressive EPS of $0.28 in Q3 2024, beating expectations by 352% ($0.06 expected).
Earnings Forecast: Analysts forecast EPS of $0.43 for the full year 2024, $0.63 for 2025, and $0.83 for 2026.
Technical Analysis:
Current Price: The current price of Cars.com stock is $18.50.
50-Day Moving Average: The 50-day moving average is also at $18.50, indicating potential breakout momentum.
Support Zone: The support zone is identified at $17.51, which can attract bargain hunters.
Resistance Price: The resistance price is at $18.50.
Analyst Recommendations:
Analysts' Recommendation: 2 analysts recommend buying, 2 analysts rate it as a hold, and 1 analyst suggests underperforming.
Analyst Target Price: The mean target estimate is $21.21, with a low estimate of $16.50 and a high estimate of $26.00.
Capital Flow:
5-Day Capital Flow: The recent 5-day capital flow data indicates fluctuations and outflows from Cars.com stock.
11-01: -154.63 thousand units (capital outflow)
11-04: 109.98 thousand units (capital inflow)
11-05: -1401.92 thousand units (capital outflow)
11-06: -1741.78 thousand units (capital outflow)
11-07: -2524.47 thousand units (capital outflow)
1-Day Capital Flow: On the most recent day, there was an overall inflow of $330.25 thousand, with big inflows and big outflows.
Profitability and Valuation:
Profitability Ratio: The profiteer ratio for Cars.com stock on November 8th, 2024, is 0.9797.
Average Cost: The average cost per share for Cars.com stock on November 8th, 2024, is $17.38.
Earnings Details:
Q3 2024 Earnings: EPS of $0.28, Return on Equity (ROE) of 14.99%, Gross Profit Margin of 66.14%, Quick Ratio of 1.57, and Current Ratio of 1.79.
Other financial ratios include Total Asset Turnover, Inventory Turnover, Return on Investment, Operating Cash Flow to Current Liabilities Ratio, Fixed Asset Turnover, Accounts Receivable Turnover Ratio, Net Assets Per Share, Total Liabilities to Total Assets Ratio, Return on Total Assets, and Net Profit Margin.
Stock Price Information:
Stock Price: As of November 10th, 2024, the stock price of Cars.com is $18.50.
Summary and Investment Outlook:Cars.com (CARS) has shown promising Q3 2024 earnings results, with a strong beat on EPS expectations. The stock is exhibiting potential breakout momentum, with the 50-day moving average lining up perfectly. Analysts have provided mixed recommendations. The mean target estimate for the stock is $21.21. However, there have been fluctuations in capital flow and recent outflows.
Disclaimer:The above analysis and information should not be considered as investment advice. Investing in the stock market involves inherent risks, and stock prices may fluctuate. It is important to conduct thorough research and analysis and consider your risk tolerance before making any investment decisions.
Please note that the provided analysis is based on the available information and historical data, which may not guarantee future performance.
Pedal to the metal, like you say BC, like my driving π ππππ¨π¨π¨
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Great article, would you like to share it?
Great article, would you like to share it?