Autobytel Stock Price Down 16% on Disappointing Earnings (ABTL)
Autobytel (NASDAQ:ABTL) was down 16% on Friday after the company announced weaker than expected quarterly earnings, American Banking News reports. The stock traded as low as $14.59 and last traded at $15.64, with a volume of 903,751 shares traded. The stock had previously closed at $18.63.
The company reported $0.06 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.08 by $0.02. The company had revenue of $20.70 million for the quarter, compared to the consensus estimate of $16.91 million.
Several analysts have recently commented on the stock. Analysts at Ascendiant Capital Markets downgraded shares of Autobytel from a “buy” rating to a “hold” rating in a research note on Friday, January 31st. They now have a $15.00 price target on the stock. They noted that the move was a valuation call. Separately, analysts at Roth Capital raised their price target on shares of Autobytel from $10.50 to $15.00 in a research note on Tuesday, January 14th. Finally, analysts at B. Riley raised their price target on shares of Autobytel from $10.00 to $18.50 in a research note on Tuesday, December 24th. One analyst has rated the stock with a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $14.05.
The stock’s 50-day moving average is $15.99 and its 200-day moving average is $10.69. The company has a market cap of $138.2 million and a price-to-earnings ratio of 73.64.
Autobytel Inc (NASDAQ:ABTL) is an automotive marketing services company that helps automotive retail dealers (Dealers) and automotive manufacturers (Manufacturers) market and sell new and used vehicles through its Internet lead referral and online advertising programs.
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