Autoweb Inc (AUTO) Expected to Post Quarterly Sales of $30.74 Million

Wall Street brokerages expect that Autoweb Inc (NASDAQ:AUTO) will announce sales of $30.74 million for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Autoweb’s earnings, with the highest sales estimate coming in at $31.54 million and the lowest estimate coming in at $29.94 million. Autoweb reported sales of $36.87 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 16.6%. The business is expected to announce its next quarterly earnings results on Thursday, November 1st.

On average, analysts expect that Autoweb will report full year sales of $119.86 million for the current financial year, with estimates ranging from $118.43 million to $121.29 million. For the next financial year, analysts expect that the company will post sales of $123.98 million, with estimates ranging from $120.26 million to $127.69 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for Autoweb.

Autoweb (NASDAQ:AUTO) last issued its earnings results on Thursday, August 2nd. The information services provider reported ($0.22) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.15) by ($0.07). Autoweb had a negative return on equity of 7.50% and a negative net margin of 61.64%. The firm had revenue of $29.29 million for the quarter, compared to analysts’ expectations of $29.93 million.

AUTO has been the subject of a number of research reports. Zacks Investment Research upgraded Autoweb from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 11th. Barrington Research restated a “hold” rating on shares of Autoweb in a report on Tuesday, July 31st. Finally, ValuEngine upgraded Autoweb from a “hold” rating to a “buy” rating in a report on Wednesday, August 8th. Five equities research analysts have rated the stock with a hold rating, Autoweb currently has an average rating of “Hold” and an average target price of $6.67.

Shares of NASDAQ:AUTO opened at $2.81 on Monday. Autoweb has a 1 year low of $2.65 and a 1 year high of $9.91. The stock has a market cap of $38.14 million, a PE ratio of 9.69 and a beta of 1.30.

In related news, insider Jared Robert Rowe purchased 13,800 shares of the firm’s stock in a transaction on Friday, August 10th. The stock was purchased at an average price of $3.64 per share, for a total transaction of $50,232.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 30.60% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Kokino LLC boosted its holdings in Autoweb by 2.4% in the 2nd quarter. Kokino LLC now owns 706,400 shares of the information services provider’s stock worth $3,193,000 after acquiring an additional 16,400 shares during the period. Macquarie Group Ltd. boosted its holdings in Autoweb by 17.1% in the 2nd quarter. Macquarie Group Ltd. now owns 146,841 shares of the information services provider’s stock worth $664,000 after acquiring an additional 21,395 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Autoweb by 11.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 315,549 shares of the information services provider’s stock worth $940,000 after acquiring an additional 31,534 shares during the period. Manatuck Hill Partners LLC purchased a new position in Autoweb in the 2nd quarter worth approximately $235,000. Finally, Ancora Advisors LLC purchased a new position in Autoweb in the 1st quarter worth approximately $380,000. Hedge funds and other institutional investors own 40.25% 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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