Brokerages Expect TrueCar Inc (TRUE) Will Post Quarterly Sales of $96.16 Million

Analysts predict that TrueCar Inc (NASDAQ:TRUE) will post sales of $96.16 million for the current quarter, according to Zacks. Four analysts have issued estimates for TrueCar’s earnings. The highest sales estimate is $96.49 million and the lowest is $95.92 million. TrueCar posted sales of $83.13 million during the same quarter last year, which suggests a positive year-over-year growth rate of 15.7%. The firm is expected to report its next earnings report on Thursday, February 21st.

On average, analysts expect that TrueCar will report full-year sales of $358.62 million for the current fiscal year, with estimates ranging from $358.38 million to $358.98 million. For the next year, analysts anticipate that the company will post sales of $413.93 million, with estimates ranging from $405.39 million to $423.98 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that follow TrueCar.

TrueCar (NASDAQ:TRUE) last issued its quarterly earnings data on Tuesday, November 6th. The technology company reported $0.04 EPS for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.01). The business had revenue of $93.59 million during the quarter, compared to analyst estimates of $93.89 million. TrueCar had a negative net margin of 8.80% and a negative return on equity of 7.56%. TrueCar’s revenue was up 13.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.02 earnings per share.

A number of equities research analysts recently commented on TRUE shares. Zacks Investment Research raised shares of TrueCar from a “hold” rating to a “buy” rating and set a $15.00 price objective on the stock in a research note on Thursday, October 11th. BTIG Research started coverage on shares of TrueCar in a research note on Tuesday, November 13th. They issued a “buy” rating and a $13.00 price objective on the stock. Benchmark lowered their price objective on shares of TrueCar from $18.00 to $16.00 and set a “buy” rating on the stock in a research note on Wednesday, November 7th. B. Riley lowered their price objective on shares of TrueCar from $18.00 to $16.50 and set a “buy” rating on the stock in a research note on Wednesday, November 7th. Finally, ValuEngine raised shares of TrueCar from a “sell” rating to a “hold” rating in a research note on Thursday, September 13th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and three have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $13.51.

NASDAQ TRUE traded down $0.08 during trading hours on Friday, reaching $9.55. The company’s stock had a trading volume of 237,049 shares, compared to its average volume of 464,650. The stock has a market cap of $996.36 million, a price-to-earnings ratio of -35.37 and a beta of 2.39. TrueCar has a fifty-two week low of $8.03 and a fifty-two week high of $14.55. The company has a current ratio of 5.66, a quick ratio of 5.66 and a debt-to-equity ratio of 0.07.

In other TrueCar news, EVP Robert Mcclung sold 7,669 shares of the company’s stock in a transaction dated Tuesday, December 18th. The shares were sold at an average price of $9.63, for a total value of $73,852.47. Following the transaction, the executive vice president now directly owns 123,992 shares in the company, valued at approximately $1,194,042.96. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last 90 days, insiders sold 9,168 shares of company stock worth $91,063. 5.60% of the stock is owned by insiders.

Several hedge funds have recently made changes to their positions in TRUE. DekaBank Deutsche Girozentrale lifted its holdings in shares of TrueCar by 295.6% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 7,911 shares of the technology company’s stock worth $101,000 after acquiring an additional 5,911 shares during the period. PEAK6 Investments L.P. purchased a new position in shares of TrueCar during the 2nd quarter worth about $175,000. Oppenheimer Asset Management Inc. purchased a new position in shares of TrueCar during the 3rd quarter worth about $221,000. Public Employees Retirement Association of Colorado lifted its holdings in shares of TrueCar by 538.4% during the 3rd quarter. Public Employees Retirement Association of Colorado now owns 17,357 shares of the technology company’s stock worth $245,000 after acquiring an additional 14,638 shares during the period. Finally, Fox Run Management L.L.C. purchased a new position in shares of TrueCar during the 3rd quarter worth about $266,000. Institutional investors and hedge funds own 96.24% 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.

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