Stock has Upside Potential, Analysts Say (NYSE:CARS) has topped revenue and earnings estimates for the first quarter by $4 million and $0.21 per share. The company’s financial numbers also increased from the year-ago period. This is due to its leading position in the online automotive marketplace.

Its marketing strategies and investments in product innovations have been generating sustainable traffic growth and unique visitors.

Its unique monthly visitor rate grew at an average rate of 9% year-over-year in the first quarter, while total traffic rose 7% from the year-ago period. Mobile traffic surged 22% from the past year quarter, representing almost 65% of total traffic in the first quarter.

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Alex Vetter, President and Chief Executive Officer of, saidWe are progressing well with converting affiliate markets, as we now work directly with nearly 80% of our dealer customers. Also, we have seen overwhelming positive industry response to the Dealer Inspire and Launch Digital Marketing acquisition.” Price Target and Valuations

Although its shares are down 8% year to date, analysts are seeing strong upside potential in the days to come. Barrington Research has issued “buy” rating for CRAS stock. B. Riley has set price target of $32 for stock with the “buy” rating. ValuEngine has also upgraded from a “hold” rating to a “buy” rating.

Its stock price currently trades around $26 a share, representing a significant upside based on analysts price targets. The stock has the 52-week trading range of $20.94 – $32.28 – with the market cap of $1.91 billion.

Its stock also trades at lower valuations than the industry average. stock trades around 9 times to earnings and 1.9 times to book ratio, compared to the industry average of 20 and 3 times, respectively.

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