DA Davidson Equities Analysts Increase Earnings Estimates for TrueCar, Inc. (TRUE)

TrueCar, Inc. (NASDAQ:TRUE) – DA Davidson raised their Q3 2018 EPS estimates for shares of TrueCar in a research report issued on Wednesday, May 9th. DA Davidson analyst T. White now forecasts that the technology company will post earnings of ($0.06) per share for the quarter, up from their previous estimate of ($0.07). DA Davidson currently has a “Neutral” rating and a $9.75 target price on the stock. DA Davidson also issued estimates for TrueCar’s Q4 2018 earnings at ($0.06) EPS, FY2018 earnings at ($0.27) EPS, Q1 2019 earnings at ($0.08) EPS, Q2 2019 earnings at ($0.06) EPS, Q3 2019 earnings at ($0.05) EPS, Q4 2019 earnings at ($0.04) EPS, FY2019 earnings at ($0.23) EPS and FY2020 earnings at ($0.15) EPS.

A number of other analysts have also recently issued reports on TRUE. Zacks Investment Research cut TrueCar from a “hold” rating to a “strong sell” rating in a research report on Saturday, January 20th. B. Riley reaffirmed a “buy” rating and issued a $18.00 price objective on shares of TrueCar in a research report on Wednesday, January 24th. Stephens set a $18.00 price objective on TrueCar and gave the company a “buy” rating in a research report on Friday, February 16th. ValuEngine cut TrueCar from a “sell” rating to a “strong sell” rating in a research report on Thursday, March 1st. Finally, JPMorgan Chase cut TrueCar from a “neutral” rating to an “underweight” rating in a research report on Thursday, March 22nd. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the company. TrueCar currently has a consensus rating of “Hold” and a consensus price target of $15.84.

TRUE opened at $9.59 on Monday. TrueCar has a 12-month low of $8.88 and a 12-month high of $21.75. The company has a market capitalization of $950.16 million, a PE ratio of -35.52 and a beta of 2.58. The company has a quick ratio of 6.41, a current ratio of 6.41 and a debt-to-equity ratio of 0.09.

TrueCar (NASDAQ:TRUE) last released its quarterly earnings data on Thursday, February 15th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.04. TrueCar had a negative return on equity of 8.72% and a negative net margin of 10.69%. The company had revenue of $83.13 million during the quarter, compared to analysts’ expectations of $81.15 million.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. UBS Asset Management Americas Inc. increased its stake in shares of TrueCar by 11.5% during the fourth quarter. UBS Asset Management Americas Inc. now owns 45,407 shares of the technology company’s stock worth $509,000 after purchasing an additional 4,700 shares during the period. California Public Employees Retirement System increased its stake in shares of TrueCar by 5.0% during the third quarter. California Public Employees Retirement System now owns 191,042 shares of the technology company’s stock worth $3,017,000 after purchasing an additional 9,042 shares during the period. Teachers Advisors LLC increased its stake in shares of TrueCar by 8.0% during the fourth quarter. Teachers Advisors LLC now owns 125,229 shares of the technology company’s stock worth $1,403,000 after purchasing an additional 9,231 shares during the period. Swiss National Bank increased its stake in shares of TrueCar by 8.0% during the fourth quarter. Swiss National Bank now owns 125,800 shares of the technology company’s stock worth $1,409,000 after purchasing an additional 9,300 shares during the period. Finally, Northern Trust Corp increased its stake in shares of TrueCar by 1.2% during the first quarter. Northern Trust Corp now owns 844,356 shares of the technology company’s stock worth $7,988,000 after purchasing an additional 9,611 shares during the period. Institutional investors own 87.74% of the company’s stock.

About TrueCar

TrueCar, Inc, together with its subsidiaries, operates as an Internet-based information, technology, and communication services company in the United States. It operates its platform on the TrueCar Website and mobile applications. The company also customizes and operates its platform for its affinity group marketing partners, including financial institutions, membership-based organizations, and employee buying programs for large enterprises.

Earnings History and Estimates for TrueCar (NASDAQ:TRUE)

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