Analysts forecast that TrueCar, Inc. (NASDAQ:TRUE) will announce ($0.08) earnings per share (EPS) for the current fiscal quarter, according to Zacks. Three analysts have made estimates for TrueCar’s earnings. The lowest EPS estimate is ($0.08) and the highest is ($0.07). TrueCar posted earnings of ($0.12) per share in the same quarter last year, which suggests a positive year-over-year growth rate of 33.3%. The company is expected to issue its next earnings report on Thursday, August 3rd.
On average, analysts expect that TrueCar will report full-year earnings of ($0.30) per share for the current fiscal year, with EPS estimates ranging from ($0.31) to ($0.28). For the next fiscal year, analysts expect that the company will post earnings of ($0.07) per share. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for TrueCar.
TrueCar (NASDAQ:TRUE) last released its earnings results on Tuesday, May 9th. The technology company reported ($0.01) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.02) by $0.01. The firm had revenue of $75.80 million for the quarter, compared to analyst estimates of $73.34 million. TrueCar had a negative return on equity of 13.82% and a negative net margin of 12.64%. The company’s revenue was up 22.5% on a year-over-year basis. During the same quarter last year, the firm posted ($0.07) EPS.
A number of research analysts have recently commented on the company. TheStreet upgraded TrueCar from a “d” rating to a “c” rating in a research note on Monday, May 15th. Zacks Investment Research upgraded TrueCar from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research note on Friday, May 5th. Loop Capital reiterated a “buy” rating and issued a $18.00 price target on shares of TrueCar in a research note on Tuesday, March 28th. Cowen and Company increased their price target on TrueCar from $13.00 to $15.00 and gave the company a “market perform” rating in a research note on Tuesday, April 25th. Finally, B. Riley reiterated a “buy” rating and issued a $21.50 price target on shares of TrueCar in a research note on Sunday, May 7th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $16.59.
TrueCar (NASDAQ:TRUE) traded up 0.87% during mid-day trading on Monday, reaching $18.46. The company’s stock had a trading volume of 1,167,575 shares. The stock’s market cap is $1.71 billion. The company has a 50 day moving average of $17.95 and a 200-day moving average of $14.97. TrueCar has a 52-week low of $7.06 and a 52-week high of $19.64.
In other news, insider Ii L.P. Upfront sold 1,725,000 shares of TrueCar stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $15.72, for a total value of $27,117,000.00. Following the completion of the transaction, the insider now directly owns 3,865,651 shares of the company’s stock, valued at approximately $60,768,033.72. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Steven J. Dietz sold 1,320,692 shares of TrueCar stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $16.50, for a total value of $21,791,418.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,178,035 shares of company stock valued at $100,592,078. 17.30% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of TRUE. First Mercantile Trust Co. acquired a new position in TrueCar during the first quarter valued at $141,000. Trexquant Investment LP acquired a new position in TrueCar during the fourth quarter valued at $161,000. Sei Investments Co. acquired a new position in TrueCar during the first quarter valued at $167,000. SG Americas Securities LLC acquired a new position in TrueCar during the first quarter valued at $190,000. Finally, Cipher Capital LP acquired a new position in TrueCar during the first quarter valued at $215,000. 83.51% of the stock is owned by hedge funds and other institutional investors.
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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