#1 - CarParts.com (NASDAQ:PRTS)
Buying a new or used car in the last 18 months has illustrated the delicate balance between supply and demand. That has made more Americans decide to keep on rolling with their current ride. And that is the bullish story behind the online auto parts retailer, CarParts.com (NASDAQ:PRTS).
The semiconductor shortage that is at the heart of the supply chain issue is not likely to be significantly different until 2023. That’s the catalyst behind the bullish outlook for CarParts.com. The company is forecasting revenue growth between 20% and 25% and adjusted EBITDA growth between 8% and 10%. The company continues to post year-over-year revenue growth.
As evidence that the company can meet its forecast, the company can now deliver to 80% of the country in two days. However, CarParts.com continues to build new distribution centers.
PRTS stock is down 35% since the beginning of the year putting it at the lower end of its 52-week range. One reason for this is that the company is not projecting profitability in the coming year. However, analysts still give the stock a 127% upside.
About CarParts.com
CarParts.com, Inc, together with its subsidiaries, operates as an online provider of aftermarket auto parts and accessories in the United States and the Philippines. It offers replacement parts, such as parts for the exterior of an automobile; mirror products; engine and chassis components, as well as other mechanical and electrical parts; and performance parts and accessories.
Read More - Current Price
- $1.05
- Consensus Rating
- Hold
- Ratings Breakdown
- 1 Buy Ratings, 2 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $1.60 (52.4% Upside)
