Why Are Cars.com Shares Trading Higher Today?

By Benzinga
November 26, 2021 Updated: November 26, 2021

Cars.com Inc. will replace DSP Group Inc. in the S&P SmallCap 600 before the opening of trading on Dec. 2.

S&P MidCap 400 constituent Synaptics Inc. is acquiring DSP Group in a deal likely to be completed by December 2.

Cars.com is an online destination for buying and selling new and used vehicles.

Recently, Cars.com reported third-quarter FY21 revenue of $156.55 million, up 8 percent year-on-year, above the consensus of $156.28 million. EPS was $0.03 versus $(0.18) last year.

Cars.com sees Q4 revenue of $157.5 million–$159.5 million versus the consensus of $159.15 million.

Price Action

Cars.com shares traded higher by 21.07 percent at $16.12 on the last check Friday.

By Anusuya Lahiri 

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