$18.24 Million in Sales Expected for AutoWeb, Inc. (NASDAQ:AUTO) This Quarter

Wall Street brokerages expect AutoWeb, Inc. (NASDAQ:AUTO) to post $18.24 million in sales for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for AutoWeb’s earnings. The highest sales estimate is $18.35 million and the lowest is $18.12 million. AutoWeb posted sales of $17.03 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 7.1%. The firm is expected to report its next earnings results on Wednesday, August 4th.

On average, analysts expect that AutoWeb will report full year sales of $74.03 million for the current financial year, with estimates ranging from $73.86 million to $74.19 million. For the next financial year, analysts anticipate that the business will post sales of $83.60 million, with estimates ranging from $81.37 million to $85.83 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, May 6th. The information services provider reported $0.02 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.12) by $0.14. The company had revenue of $17.88 million during the quarter, compared to the consensus estimate of $17.61 million. AutoWeb had a negative return on equity of 14.60% and a negative net margin of 3.50%.

AUTO has been the subject of a number of analyst reports. Barrington Research reduced their price target on AutoWeb from $10.00 to $6.00 and set an “outperform” rating for the company in a report on Tuesday, June 1st. Zacks Investment Research downgraded AutoWeb from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 13th.

AUTO traded up $0.15 on Monday, reaching $3.27. The company’s stock had a trading volume of 28,938 shares, compared to its average volume of 127,445. The firm has a market cap of $44.05 million, a PE ratio of -18.17 and a beta of 2.26. AutoWeb has a 1 year low of $1.28 and a 1 year high of $5.97. The firm has a 50 day moving average of $2.94.

A number of large investors have recently added to or reduced their stakes in the business. Millennium Management LLC lifted its holdings in AutoWeb by 73.6% during the 1st quarter. Millennium Management LLC now owns 23,330 shares of the information services provider’s stock worth $62,000 after buying an additional 9,889 shares during the last quarter. Dimensional Fund Advisors LP acquired a new stake in shares of AutoWeb during the 4th quarter worth approximately $36,000. Virtu Financial LLC acquired a new stake in shares of AutoWeb during the 4th quarter worth approximately $76,000. Susquehanna International Group LLP acquired a new stake in shares of AutoWeb during the 4th quarter worth approximately $79,000. Finally, Bank of New York Mellon Corp acquired a new stake in shares of AutoWeb during the 4th quarter worth approximately $115,000. 13.44% of the stock is currently owned by institutional investors.

About AutoWeb

AutoWeb, Inc engages in digital marketing solutions. The company engages in assisting automotive retail dealers and automotive manufacturers market and sell new and used vehicles to consumers by utilizing digital sales enhancing products and services. Its consumer-facing automotive websites provide consumers with information and tools to aid them with their automotive purchase decisions and gives in-market consumers the ability to connect with Dealers regarding purchasing or leasing vehicles.

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