Skip to main content

Market Overview

EXCLUSIVE: COO On Company's History, Market Opportunity, Earnings

EXCLUSIVE: COO On Company's History, Market Opportunity, Earnings

David Meniane, the COO and CFO of Inc (NASDAQ: PRTS), described the company as an online retailer selling tools and parts that help get customers back on the road Tuesday on Benzinga's YouTube show "Power Hour."

The company has been around for 25 years, Meniane said, adding that it has 2,000 employees. 

Ninety-five percent of the company's business is online, he said. 

The amount of cars on the road is increasing every year, Meniane told Benzinga.

The car parts market is a $300 billion to $400 billion market, yet only 3%-4% of purchases are made online, which presents a huge opportunity for, the COO said. 

The shift from offline to online has been seen in most industries, he said, adding that a dramatic shift is occurring in automotive — and is leading the way. 

PRTS Earnings: reported first-quarter financial results Monday. The company reported an earnings loss of 6 cents per share, missing the Street estimate for a loss of 4 cents per share. It reported revenue of $144.8 million, which beat the estimate of $117.5 million. 

The quarter was the biggest in company history, Meniane said, adding that the company's execution is what drove its success.

The recent chip shortage is going to benefit the business, Meniane said, adding that fewer new cars being made means more used cars on the road.

The company's "sweet spot" is providing parts for cars that are eight to 15 years old, he said. made a lot of investments last year that are already paying off for the company, Meniane told Benzinga. He concluded the interview by saying: "PRTS to the moon." 

PRTS Price Action: traded as high as $23.26 and as low as $4.28 over a 52-week period. The stock was up 11.27% at $15.89 at last check Tuesday. 

Image by Mimzy from Pixabay

Latest Ratings for PRTS

May 2021Roth CapitalMaintainsBuy
Feb 2021Roth CapitalMaintainsBuy
Nov 2020RBC CapitalInitiates Coverage OnOutperform

View More Analyst Ratings for PRTS
View the Latest Analyst Ratings


Related Articles (PRTS)

View Comments and Join the Discussion!

Posted-In: Earnings News Price Target Small Cap Exclusives Analyst Ratings Movers Trading Ideas Best of Benzinga

Latest Ratings

ATERRoth CapitalMaintains25.0
FMTXSVB LeerinkMaintains54.0
PLXSLoop CapitalMaintains105.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at