Credit Suisse Group Reiterates “Underperform” Rating for Autoweb (NASDAQ:AUTO)

Autoweb (NASDAQ:AUTO)‘s stock had its “underperform” rating reiterated by equities researchers at Credit Suisse Group in a note issued to investors on Thursday, Stock Target Advisor reports.

Several other research analysts have also recently commented on AUTO. Zacks Investment Research upgraded shares of Autoweb from a “sell” rating to a “hold” rating in a report on Tuesday, October 8th. ValuEngine cut shares of Autoweb from a “buy” rating to a “hold” rating in a report on Friday, October 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $4.25.

NASDAQ AUTO opened at $2.53 on Thursday. The company has a quick ratio of 1.45, a current ratio of 1.45 and a debt-to-equity ratio of 0.08. Autoweb has a 52 week low of $1.90 and a 52 week high of $5.00. The stock has a market capitalization of $34.58 million, a PE ratio of -2.30 and a beta of 0.24. The firm has a 50 day moving average of $2.67 and a two-hundred day moving average of $3.15.

Autoweb (NASDAQ:AUTO) last posted its quarterly earnings results on Wednesday, August 7th. The information services provider reported ($0.34) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.20). Autoweb had a negative return on equity of 51.92% and a negative net margin of 27.41%. The firm had revenue of $27.14 million for the quarter, compared to analyst estimates of $27.71 million. On average, equities research analysts expect that Autoweb will post -0.6 earnings per share for the current fiscal year.

In related news, Director Matias De Tezanos purchased 50,000 shares of Autoweb stock in a transaction dated Wednesday, August 14th. The shares were acquired at an average cost of $2.31 per share, with a total value of $115,500.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 38.40% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the company. Ridgewood Investments LLC raised its stake in shares of Autoweb by 33.3% in the 2nd quarter. Ridgewood Investments LLC now owns 16,000 shares of the information services provider’s stock valued at $57,000 after acquiring an additional 4,000 shares during the period. Renaissance Technologies LLC grew its holdings in shares of Autoweb by 5.3% in the second quarter. Renaissance Technologies LLC now owns 407,590 shares of the information services provider’s stock valued at $1,447,000 after purchasing an additional 20,400 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Autoweb by 28.1% in the second quarter. Vanguard Group Inc. now owns 248,214 shares of the information services provider’s stock valued at $881,000 after purchasing an additional 54,377 shares in the last quarter. 19.67% of the stock is currently owned by institutional investors and hedge funds.

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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