Cars.Com Stock Price, News & Analysis

Cars.com Inc. (CARS) has launched a new digital financing technology powered by CreditIQ, enhancing finance options for dealers. This turn-key solution, debuting at the NADA Convention in Las Vegas from March 11-13, streamlines the financing process by allowing instant loan approvals on dealer websites. A recent survey indicates that 76% of shoppers prefer to handle financing online. This technology enables dealers to maintain their existing processes while attracting pre-approved customers, potentially increasing profitability.

Cars.com (CARS) has successfully completed the acquisition of Accu-Trade Group for an initial $65 million, with potential future payments of up to $63 million based on performance. This acquisition enhances CARS' entry into the growing digital vehicle acquisition market by adding real-time appraisal technology and logistics capabilities. The integration of Accu-Trade technology aims to improve CARS' end-to-end platform, allowing over 11 million annual private-party car sellers in the U.S. to sell vehicles directly to consumers or certified dealers.

Cars.com Inc. (NYSE: CARS) reported Q4 2021 revenue of $158.3 million, a 3% increase YoY, but posted a net loss of $6.0 million compared to a net income of $7.2 million in Q4 2020. Adjusted EBITDA stood at $46.8 million, representing 30% of revenue. For the full year, revenue rose 14% to $623.7 million, with a net income of $7.7 million, a significant recovery from a net loss in the prior year. Looking ahead, CARS anticipates first-quarter revenue between $156.5 million and $158.5 million.

Cars.com Inc. (NYSE: CARS) has announced a share repurchase program authorizing the buyback of up to $200 million of its common stock over three years. This program aims to enhance shareholder value and reflects the company's strong cash flow and confidence in future growth. Share repurchases will be conducted through open market or private transactions depending on market conditions. The company continues to pursue organic growth while maintaining a strategy for potential acquisitions.

On February 21, 2022, Cars.com identified the Tesla Model Y as the Best Electric Vehicle of 2022 in its Best Of awards program. The recognition highlights Tesla's leadership in electric vehicle technology, emphasizing efficiency, range, and consumer appeal. Despite the growing interest in EVs, inventory has decreased by 30% over the past year, while about 94% of consumers prefer to purchase EVs through local dealerships. The Biden administration plans a $5 billion investment to expand EV charging stations, addressing consumer concerns about infrastructure and availability.

CARS (NYSE: CARS) announced its upcoming financial results for Q4 and the full year 2021, scheduled for February 24, 2022. The webcast will begin at 8:00 a.m. CT and will be hosted by CEO Alex Vetter and CFO Sonia Jain. CARS, a prominent automotive marketplace, connects car shoppers with sellers using advanced digital solutions and data-driven insights. This announcement sets the stage for potential market movements based on their performance metrics.

Cars.com reported a significant traffic boost following the automotive commercials aired during the recent Super Bowl. The event featured a 217% average increase in brand page views, with electric vehicles (EVs) dominating the ad space. EV page views surged by 80%, and Polestar 2 achieved a remarkable 580x traffic lift. Overall, automaker brand page views rose by 2361%. The analysis indicates a growing consumer interest in EVs, although sales growth remains slower. Major advertisers included Kia, BMW, Toyota, and GM, all contributing to heightened engagement on Cars.com.

Cars.com (CARS) has announced the acquisition of Accu-Trade, a company specializing in VIN-specific vehicle valuation and appraisal technology, for $65 million in cash, with a potential earn-out of $63 million. This transaction will enhance CARS' platform by providing dealers with tools to improve inventory management and maximize profits. The acquisition aims to drive additional revenue and improve dealer-to-dealer and consumer-to-dealer transactions. The deal is expected to close within 30 days and is anticipated to be EBITDA accretive in its first year.