Brokerages predict that TrueCar Inc (NASDAQ:TRUE) will announce sales of $81.00 million for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for TrueCar’s earnings, with the lowest sales estimate coming in at $80.96 million and the highest estimate coming in at $81.04 million. TrueCar reported sales of $75.76 million during the same quarter last year, which indicates a positive year-over-year growth rate of 6.9%. The company is expected to announce its next quarterly earnings report on Tuesday, May 8th.
On average, analysts expect that TrueCar will report full-year sales of $81.00 million for the current fiscal year, with estimates ranging from $360.37 million to $362.83 million. For the next fiscal year, analysts anticipate that the business will report sales of $416.76 million per share, with estimates ranging from $410.21 million to $422.73 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow TrueCar.
TrueCar (NASDAQ:TRUE) last issued its earnings results on Thursday, February 15th. The technology company reported $0.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.01 by $0.04. The business had revenue of $83.13 million for the quarter, compared to analyst estimates of $81.72 million. TrueCar had a negative net margin of 10.16% and a negative return on equity of 8.70%. TrueCar’s revenue was up 12.2% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.01) earnings per share.
TRUE has been the topic of several research analyst reports. Zacks Investment Research lowered shares of TrueCar from a “hold” rating to a “strong sell” rating in a research note on Saturday, January 20th. Stephens set a $18.00 target price on shares of TrueCar and gave the stock a “buy” rating in a research note on Friday, February 16th. B. Riley reissued a “buy” rating and set a $18.00 target price on shares of TrueCar in a research note on Wednesday, January 24th. Finally, ValuEngine lowered shares of TrueCar from a “sell” rating to a “strong sell” rating in a research note on Thursday, March 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have given a buy rating to the company’s stock. TrueCar currently has a consensus rating of “Hold” and a consensus price target of $17.56.
In other TrueCar news, SVP John Pierantoni sold 2,494 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $11.29, for a total value of $28,157.26. Following the transaction, the senior vice president now directly owns 57,513 shares of the company’s stock, valued at $649,321.77. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Neeraj Gunsagar sold 10,443 shares of the firm’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $11.28, for a total transaction of $117,797.04. Following the completion of the transaction, the executive vice president now directly owns 254,144 shares in the company, valued at $2,866,744.32. The disclosure for this sale can be found here. Insiders sold 15,670 shares of company stock worth $177,654 over the last ninety days. Insiders own 15.50% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC bought a new position in shares of TrueCar during the third quarter valued at about $104,000. Massey Quick Simon & CO. LLC bought a new position in shares of TrueCar during the third quarter valued at about $119,000. Xact Kapitalforvaltning AB bought a new position in shares of TrueCar during the fourth quarter valued at about $132,000. Global Endowment Management LP bought a new position in shares of TrueCar during the fourth quarter valued at about $133,000. Finally, Quantitative Systematic Strategies LLC bought a new position in shares of TrueCar during the fourth quarter valued at about $190,000. 89.04% of the stock is currently owned by hedge funds and other institutional investors.
TrueCar (TRUE) opened at $10.86 on Thursday. The stock has a market cap of $1,109.16, a price-to-earnings ratio of -31.03 and a beta of 2.52. TrueCar has a 12 month low of $10.16 and a 12 month high of $21.75. The company has a debt-to-equity ratio of 0.09, a quick ratio of 6.41 and a current ratio of 6.41.
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TrueCar, Inc is an Internet-based information, technology, and communication services company. The Company has a data-driven online platform, which features market data and analytics. The Company-branded platform is available on its TrueCar Website and mobile applications. It customizes and operates its platform on a co-branded basis for its affinity group marketing partners, including financial institutions, membership-based organizations, and employee buying programs for a range of enterprises.
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