Autobytel Confusing On Multiple Levels
Autobytel Is A Takeover Target In A Consolidating Industry
Dr. Hugh Akston • 14 Comments
Dr. Hugh Akston • 14 Comments
Thu, Aug. 25, 11:50 AM
- Amazon (AMZN +0.1%) earlier revealed a new research and community portal offering users access to specifications, photos, videos and reviews for thousands of new and used vehicle models.
- Though these businesses and Amazon's new service are not fully identical, the further extension of Amazon into the automotive arena does not bode well for them and others as it has the resources and technology to do what they do equally as well, if not better, and on a larger scale.
- TrueCar (TRUE -8.6%) is presently trading up around 100% on the year while Autobytel (ABTL -5%) is more or less unchanged (-2%).
- Amazon press release
- Amazon Vehicles
Fri, Aug. 5, 3:00 PM
Oct. 2, 2015, 12:40 PM
Jul. 7, 2015, 10:05 AM
- Barrington Research has launched coverage on Autobytel (NASDAQ:ABTL) with an Outperform rating and $22 target.
- The automotive site owner/marketing services provider is now up 43% YTD. Shares go for 10.6x a 2016 EPS consensus of $1.47.
May 22, 2015, 12:47 PM
Feb. 27, 2015, 12:55 PM
Feb. 27, 2015, 12:31 PM
- Autobytel (NASDAQ:ABTL) has surged to its highest levels since last July after blowing away Q4 EPS estimates (while posting nearly in-line revenue) and guiding for 2015 EPS of $0.97-$1.16, well above a $0.46 consensus. 2015 revenue guidance of $114M-$120M is in-line with a $118.1M consensus.
- Boosting Q4 EPS: Operating expenses fell to 32.5% of revenue from 32.9% in Q3 and 34.8% a year ago. Also: Gross margin was 40%, down slightly from Q3's 40.2% but up from 39.1% a year ago.
- Auto leads/services revenue rose 23% Y/Y to $22.8M, with retail revenue rising 52% to $11.3M and wholesale just 3% to $11.5M. Ad revenue rose 127% to $1.6M thanks to the Jumpstart deal, which boosted site traffic.
- Lake Street Capital's Eric Martinuzzi (Buy) notes the results follow Q4 purchases from 9 insiders, and that a mix shift towards ad revenue (near-100% gross margin) is lifting EPS. He does note Autobytel continues to see its served dealer count decline, but adds management expects the figure to bottom in 2015.
- Q4 results, PR
Feb. 26, 2015, 4:26 PM
- Autobytel (NASDAQ:ABTL): Q4 EPS of $0.23 beats by $0.20.
- Revenue of $26.04M (+25.9% Y/Y) beats by $0.18M.
- Shares +6%.
Oct. 21, 2014, 1:29 PM
- Ancora Advisors has disclosed a 428K-share (4.7%) stake in Autobytel (NASDAQ:ABTL), and has called on its board to "immediately explore the sale of the Company."
- Ancora observes Autobytel trades at a far lower valuation than larger rival TrueCar, and argues its relative lack of scale puts it at a major disadvantage. The firm also declares Autobytel's management lacks credibility, and criticizes a governance structure deemed to disenfranchise shareholders.
- With a current market cap of $79M, Autobytel should be easy for a larger player to digest, provided one is interested.
Sep. 12, 2014, 9:41 AM
- Autobytel (ABTL +7.2%) opens strong after saying it sees Q3 revenue growth of 25%-26% Y/Y, at the high end of its previously announced guidance, and reiterates its guidance for Q3 adjusted EBITDA of $0.22-$0.25/share.
- ABTL says expected Q3 results are based on solid July and August business trends and a strong start to September, reflecting a strong auto leads business and ongoing healthy automotive market.
Aug. 1, 2014, 12:46 PM
Apr. 2, 2014, 12:46 PM
Feb. 21, 2014, 12:45 PM
Jan. 31, 2014, 9:50 AM
- Citrix (CTXS +2.5%) has been upgraded to Overweight by JPMorgan, and to Buy by Nomura. The votes of confidence come a day after shares tumbled in response to the company's soft guidance and disclosure that CEO Mark B. Templeton will be retiring within a year. Several firms had downgraded Citrix in response to the news.
- Tibco (TIBX -1.6%) has been cut to Underweight by Barclays.
- Vimpelcom (VIP +0.5%) has been upgraded to Buy by Citi. HSBC cut the Russian mobile carrier to Neutral two days ago.
- International Rectifier (IRF +2.3%) has been upgraded to Buy by Citi. Shares sold off yesterday following the chipmaker's FQ2 beat.
- Autobytel (ABTL -5%) has been cut to Hold by Ascendiant Capital.
Jan. 13, 2014, 6:37 PM
- Autobytel (ABTL) +12.3% AH after agreeing to acquire AutoNation (AN) subsidiary AutoUSA for $10M in cash and a $1M 6% convertible note payable in one lump sum in five years and convertible to ABTL common stock at a conversion price reflecting a 20% premium over the price of ABTL shares on the date of closing.
- ABTL says the acquisition expands its reach and influence in the industry by increasing its national new and used car dealer network to more than 5,200 from ~3,800 while boosting its business with auto manufacturers.
- ABTL expects the deal will be accretive to its 2014 results.
Autobytel, Inc. is a automotive marketing services company, which assists automotive retail dealers and manufacturers, market and sell new and used vehicles through internet purchase request referral programs together with related dealer marketing products and services and online advertising... More
Industry: Internet Information Providers
Country: United States