The term caution is becoming synonymous with BitAuto Holdings (BITA), as an investment bank reduced its price target on BitAuto stock on Wednesday, a day after another investment firm downgraded the company, citing its plans to increase spending. The actions comes after BitAuto reporting a Q4 earnings beat on Monday, while giving disappointing earnings guidance. BitAuto provides a website that helps auto dealers market to customers, in competition
BitAuto Holdings (BITA) stock fell Monday, though the China auto website didn’t appear to hit any speed bumps when it reported a Q4 earnings beat early Monday. The company’s revenue guidance for the current quarter also came in ahead of Wall Street forecasts, as polled by Thomson Reuters, but the earnings guidance appeared weak. The volatile BitAuto stock was down 10% in morning trading in the stock market today, near 60.50. Last week, shares for
Two Chinese Internet stocks are building bases: AutoHome (ATHM) and BitAuto (BITA). Both are gaining on the stock market today in the wake of AutoHome’s view-topping quarterly earnings on Wednesday. BitAuto will release its results on Monday. Watch this video for details on the potential buy points for these stocks. Follow Alissa Williams on Twitter: @IBD_AWilliams.