Is Cars.com Inc. (CARS) One of the Best Used Car Stocks To Buy According to Hedge Funds?

Cars.com Inc. (NYSE:CARS) is one of the best used-car stocks to buy, according to hedge funds. Analysts remain bullish on Cars.com Inc. (NYSE:CARS). Over the past three months, five Wall Street firms set 12‑month targets averaging $17.75, ranging from $13 to $25, implying a potential 56% upside from the current price of $11.36.

Is Cars.com Inc. (CARS) One of the Best Used Car Stocks To Buy According to Hedge Funds?

On January 29, Cars.com Inc. (NYSE:CARS) launched a new powerful tech and advertising solution for its dealer customers. Built based on consumer demand and inventory data, the AI-powered inventory video solution is designed to create VIN-specific video advertisements for dealer inventory. On the other hand, the Market Area Expansion tool will allow dealers to display inventory beyond their local market and to offer vehicle shipping and delivery services to customers.

The company is leveraging proprietary consumer demand and inventory data to power the new AI video solution. The ultimate goal is to unlock new shipping and delivery options and enable customers to enjoy new integrated wholesale options.

“By putting AI-powered technology and market expansion tools in the hands of our customers, Cars.com is connecting highly-engaged shoppers with the right inventory, driving twice the lead conversion, and ensuring our partners grow faster and more profitably,” said Lisa Gosselin, Chief Commercial Officer for Cars.com Inc.

Cars.com has also integrated its wholesale tools through the AccuTrade and DealerClub platforms to accelerate wholesale transactions for aging units.

Cars.com Inc. (NYSE:CARS) is a digital automotive marketplace connecting car shoppers with dealers and private sellers. It serves as an advertising and lead-generation platform, reaching about 26-27 million monthly visitors.

While we acknowledge the potential of Cars.com Inc. (NYSE:CARS) as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than CARS and that has 100x upside potential, check out our report about the cheapest AI stock.

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Disclosure: None. This article is originally published at Insider Monkey.