Analysts expect that TrueCar Inc (NASDAQ:TRUE) will post $89.73 million in sales for the current quarter, according to Zacks Investment Research. Four analysts have provided estimates for TrueCar’s earnings, with the highest sales estimate coming in at $90.00 million and the lowest estimate coming in at $89.36 million. TrueCar reported sales of $87.85 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 2.1%. The firm is scheduled to announce its next quarterly earnings report on Thursday, August 8th.
On average, analysts expect that TrueCar will report full-year sales of $364.38 million for the current financial year, with estimates ranging from $360.70 million to $368.57 million. For the next fiscal year, analysts expect that the company will post sales of $396.24 million, with estimates ranging from $379.45 million to $422.08 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow TrueCar.
TrueCar (NASDAQ:TRUE) last issued its earnings results on Thursday, May 9th. The technology company reported ($0.09) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.01. TrueCar had a negative net margin of 9.39% and a negative return on equity of 7.97%. The firm had revenue of $85.60 million during the quarter, compared to analyst estimates of $84.99 million. During the same period in the previous year, the firm earned $0.01 earnings per share. The business’s revenue was up 5.6% on a year-over-year basis.
A number of analysts recently weighed in on the stock. SunTrust Banks reaffirmed a “hold” rating and issued a $8.00 price objective on shares of TrueCar in a research note on Tuesday, May 14th. Cowen assumed coverage on shares of TrueCar in a research note on Monday, May 20th. They issued a “hold” rating and a $7.00 price objective for the company. Benchmark lowered shares of TrueCar from a “buy” rating to a “hold” rating and set a $11.00 price objective for the company. in a research note on Monday, March 25th. Zacks Investment Research lowered shares of TransEnterix from a “hold” rating to a “sell” rating in a research note on Saturday. Finally, Goldman Sachs Group set a €137.00 ($159.30) price objective on shares of Safran and gave the stock a “buy” rating in a research note on Monday, March 18th. Three analysts have rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $9.91.
In other TrueCar news, EVP Robert Mcclung sold 7,669 shares of the business’s stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $5.41, for a total value of $41,489.29. Following the completion of the transaction, the executive vice president now directly owns 121,744 shares in the company, valued at $658,635.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 8,976 shares of company stock valued at $49,792 over the last quarter. 7.00% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in TRUE. Amundi Pioneer Asset Management Inc. bought a new position in TrueCar in the fourth quarter worth about $92,000. Quantamental Technologies LLC raised its holdings in TrueCar by 654.8% in the first quarter. Quantamental Technologies LLC now owns 14,069 shares of the technology company’s stock worth $93,000 after purchasing an additional 12,205 shares in the last quarter. Amalgamated Bank bought a new position in TrueCar in the fourth quarter worth about $126,000. BNP Paribas Arbitrage SA increased its holdings in shares of TrueCar by 1,117.5% during the first quarter. BNP Paribas Arbitrage SA now owns 21,441 shares of the technology company’s stock valued at $142,000 after acquiring an additional 19,680 shares in the last quarter. Finally, NumerixS Investment Technologies Inc acquired a new position in shares of TrueCar during the first quarter valued at about $156,000. Institutional investors and hedge funds own 94.98% of the company’s stock.
NASDAQ:TRUE remained flat at $$5.34 during mid-day trading on Friday. 494,819 shares of the company were exchanged, compared to its average volume of 2,010,689. TrueCar has a 52 week low of $5.02 and a 52 week high of $14.55. The stock has a 50-day moving average price of $5.61. The company has a market capitalization of $562.25 million, a PE ratio of -20.54 and a beta of 1.57. The company has a debt-to-equity ratio of 0.12, a current ratio of 5.09 and a quick ratio of 5.09.
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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