Shares of Cars.com Inc. (CARS) gained over 7% on Friday after announcing strategic updates and an increased buyback plan.
The stock is currently trading at $9.74, up $0.65 or 7.15%, on the NYSE. It opened at $9.55 after closing the previous session at $9.09. The stock has traded between $7.40 and $13.97 over the past 52 weeks.
Cars.com raised its 2026 share repurchase target to $90 million from $60-plus million and reaffirmed its full-year guidance.
The company is rolling out AI-powered tools, including a dealer assistant and enhanced shopper alerts, while implementing cost cuts expected to deliver $25 to $30 million in annual savings by 2027.
For 2026, Cars.com expects revenue growth of flat to 2% with adjusted EBITDA margins of 29%-30%, signaling stable performance with improving efficiency.
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June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.