Cars.com (CARS) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

Cars.com (CARS) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).

The mean of analysts' price targets for Cars.com (CARS) points to a 32.1% upside in the stock. While this highly sought-after metric has not proven reasonably effective, strong agreement among analysts in raising earnings estimates does indicate an upside in the stock.

Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.

The headline numbers for Cars.com (CARS) give insight into how the company performed in the quarter ended March 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Trading in U.S. index futures suggests stocks may be off to a lackluster start again on Thursday. Much of the negativity in the recent session was triggered by the lack of clarity on the Federal Reserve’s rate trajectory. The spotlight is likely to be on another slew of earnings reports and a Fed speech scheduled for the day. While bullish analysts would like to focus on the resilience shown by the market amid the uncertainty, others warn of a challenging outlook following the breakdown of the broader uptrend in early April. Futures Performance (+/-) Nasdaq 100 -0.21% S&P 500 -0.16% Dow -0.16% R2K -0.54% In premarket trading on Thursday, the SPDR S&P 500 ETF Trust (NYSE:SPY) moved down 0.12% to $516.58, while the Invesco QQQ ETF (NASDAQ:QQQ) slipped 0.18% to $439.27, according to Benzinga Pro data. Cues From Previous Session: Rate worries amid a lack of clarity from Fed speeches and some negative earnings reports weighed down on the major indices on Wednesday. After starting the day lower, the averages cut their losses substantially by late-morning trading. Aided by a rally in the shares of Amgen, Inc. (NASDAQ:AMGN) and Boeing Co. (NYSE:BA) and some healthcare and financial stocks, the Dow Jones Industrial Average hovered mostly above the unchanged line thereafter. The 30-stock blue-chip average ended higher for a sixth straight session. The Nasdaq Composite and the S&P 500 Index spent a better part of the session below the unchanged line, closing modestly lower for the day. Index Performance (+/-) Value Nasdaq Composite -0.18% 16,302.76 S&P 500 Index -0.00% 5,187.67 Dow Industrials +0.44% 39,056.39 Russell 2000 -0.46% 2,055.14 Insights From Analysts: An economist said there would likely be risks from the drying up of personal savings. LPL Chief Economist Jeffrey Roach said consumers have been drawing down excess savings since mid-2021, with the excess savings drying up as of March. “Throughout the more recent spending splurge, households drew ...Full story available on Benzinga.com

ACV Auctions (ACVA) delivered earnings and revenue surprises of -100% and 1.08%, respectively, for the quarter ended March 2024. Do the numbers hold clues to what lies ahead for the stock?

Carvana (CVNA) delivered earnings and revenue surprises of 46.05% and 12.74%, respectively, for the quarter ended March 2024. Do the numbers hold clues to what lies ahead for the stock?

The headline numbers for Cars.com (CARS) give insight into how the company performed in the quarter ended December 2023, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Cars.com (CARS) delivered earnings and revenue surprises of -40% and 0.61%, respectively, for the quarter ended December 2023. Do the numbers hold clues to what lies ahead for the stock?

Investors pinned hopes on Nvidia Corp.’s (NASDAQ:NVDA) earnings to reinvigorate market momentum, and the AI leader delivered an impressive beat-and-raise quarter. This news buoyed major index futures in early Thursday trading, signaling a positive start to the day. Analysts have advocated seizing the recent market dip as a buying opportunity, amplifying anticipation for robust buying activity amidst prevalent FOMO sentiments. However, market participants remain attentive to several factors shaping the day’s trading landscape, including scheduled Fed speeches, weekly jobless claims data, and private-sector activity readings. Cues From Wednesday’s Trading: Wednesday’s market session concluded with a mixed tone as investors digested hawkish Fed minutes, coupled with some disappointing tech earnings, while anxiously awaiting Nvidia’s report. Minutes from the January Federal Open Market Committee meeting revealed the central bank’s cautious stance on rate cuts, preferring to await clearer signals of sustainable inflation trends. The day commenced with major indexes opening lower, maintaining a sideways trajectory, before deepening losses post-Fed minutes release. A late-session surge helped propel the S&P 500 and Dow Industrials into positive territory, while the Nasdaq Composite, although ending lower, saw improvement from earlier lows, settling at its highest level since early February. Energy and utility sectors led gains among the 11 S&P 500 sector classes, while IT stocks experienced declines, reflecting the day’s mixed sentiment. Index Performance (+/-) Value Nasdaq Composite -0.32% 15,580.87 S&P 500 Index +0.13% 4,981.80 Dow Industrials +0.13% 38,612.24 Russell 2000 -1.41% 2,004.14 Analyst Color: Labor market indicators such as job creation, wages, and layoffs are key data that could be important for determining the sustainability of the market rally, said Morgan Stanley’s Lisa Shalett. “With equity valuations already rich, can today's economic strength translate to positive surprises in company earnings? The answer likely hinges on what happens in the U.S. labor market,” she said. If the labor market remains tight, with more jobs than available workers, companies may ...Full story available on Benzinga.com