Brokerages forecast that TrueCar Inc (NASDAQ:TRUE) will report sales of $93.78 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have provided estimates for TrueCar’s earnings. The lowest sales estimate is $93.24 million and the highest is $94.12 million. TrueCar reported sales of $82.44 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 13.8%. The firm is expected to issue its next quarterly earnings results on Monday, November 5th.
According to Zacks, analysts expect that TrueCar will report full year sales of $361.11 million for the current year, with estimates ranging from $360.52 million to $362.46 million. For the next financial year, analysts expect that the business will report sales of $420.00 million, with estimates ranging from $410.21 million to $426.05 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that follow TrueCar.
TrueCar (NASDAQ:TRUE) last posted its quarterly earnings results on Thursday, August 9th. The technology company reported $0.03 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.03. The company had revenue of $87.85 million for the quarter, compared to analysts’ expectations of $87.81 million. TrueCar had a negative return on equity of 8.42% and a negative net margin of 10.07%. TrueCar’s quarterly revenue was up 7.4% on a year-over-year basis. During the same period last year, the firm earned $0.01 earnings per share.
Several equities analysts have issued reports on TRUE shares. ValuEngine raised TrueCar from a “strong sell” rating to a “sell” rating in a report on Monday, July 2nd. DA Davidson set a $13.00 price objective on TrueCar and gave the stock a “hold” rating in a report on Monday, August 13th. Finally, Zacks Investment Research raised TrueCar from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a report on Tuesday, August 14th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $15.57.
In related news, EVP Robert Mcclung sold 7,669 shares of the firm’s stock in a transaction dated Tuesday, September 18th. The stock was sold at an average price of $13.51, for a total transaction of $103,608.19. Following the transaction, the executive vice president now owns 128,791 shares of the company’s stock, valued at $1,739,966.41. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Jeff Swart sold 9,000 shares of the firm’s stock in a transaction dated Friday, August 10th. The stock was sold at an average price of $12.00, for a total value of $108,000.00. Following the transaction, the executive vice president now directly owns 103,366 shares in the company, valued at approximately $1,240,392. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 35,974 shares of company stock worth $424,871. Corporate insiders own 5.60% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jane Street Group LLC purchased a new position in shares of TrueCar during the first quarter worth about $170,000. NumerixS Investment Technologies Inc grew its holdings in shares of TrueCar by 30.8% during the second quarter. NumerixS Investment Technologies Inc now owns 31,818 shares of the technology company’s stock worth $321,000 after buying an additional 7,500 shares during the last quarter. 683 Capital Management LLC grew its holdings in shares of TrueCar by 3.7% during the second quarter. 683 Capital Management LLC now owns 3,383,358 shares of the technology company’s stock worth $34,138,000 after buying an additional 120,000 shares during the last quarter. A.R.T. Advisors LLC grew its holdings in shares of TrueCar by 66.2% during the first quarter. A.R.T. Advisors LLC now owns 302,082 shares of the technology company’s stock worth $2,857,000 after buying an additional 120,300 shares during the last quarter. Finally, PEAK6 Investments L.P. purchased a new position in shares of TrueCar during the second quarter worth about $175,000. 90.38% of the stock is currently owned by hedge funds and other institutional investors.
Shares of TRUE stock traded down $0.02 during mid-day trading on Monday, hitting $11.97. 849,158 shares of the stock were exchanged, compared to its average volume of 1,382,934. The firm has a market cap of $1.44 billion, a price-to-earnings ratio of -44.33 and a beta of 2.60. TrueCar has a 12-month low of $8.75 and a 12-month high of $16.45. The company has a debt-to-equity ratio of 0.09, a quick ratio of 6.38 and a current ratio of 6.38.
TrueCar Company Profile
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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