Equities analysts forecast that TrueCar Inc (NASDAQ:TRUE) will announce sales of $81.15 million for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for TrueCar’s earnings. The lowest sales estimate is $80.34 million and the highest is $81.96 million. TrueCar posted sales of $74.08 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 9.5%. The business is expected to announce its next earnings report on Thursday, February 15th.
According to Zacks, analysts expect that TrueCar will report full year sales of $81.15 million for the current fiscal year, with estimates ranging from $320.35 million to $321.97 million. For the next year, analysts forecast that the business will post sales of $359.86 million per share, with estimates ranging from $338.85 million to $371.27 million. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow TrueCar.
Several equities analysts recently issued reports on TRUE shares. Zacks Investment Research lowered TrueCar from a “hold” rating to a “sell” rating in a research report on Friday, October 6th. Goldman Sachs Group reiterated a “neutral” rating and issued a $17.00 price objective on shares of TrueCar in a research report on Wednesday, October 11th. Royal Bank of Canada decreased their price objective on TrueCar from $23.00 to $18.00 and set an “outperform” rating for the company in a research report on Tuesday, November 7th. B. Riley reiterated a “buy” rating and issued a $18.00 price objective (down from $21.00) on shares of TrueCar in a research report on Tuesday, November 7th. Finally, Morgan Stanley upgraded TrueCar from an “underweight” rating to an “equal weight” rating and set a $13.00 price objective for the company in a research report on Monday, October 2nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company’s stock. TrueCar currently has a consensus rating of “Hold” and a consensus price target of $17.44.
In other TrueCar news, EVP Neeraj Gunsagar sold 10,443 shares of the company’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $11.28, for a total transaction of $117,797.04. Following the completion of the transaction, the executive vice president now owns 254,144 shares of the company’s stock, valued at approximately $2,866,744.32. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP John Pierantoni sold 2,633 shares of the company’s stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $15.87, for a total value of $41,785.71. Following the transaction, the senior vice president now directly owns 63,027 shares of the company’s stock, valued at approximately $1,000,238.49. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,054 shares of company stock valued at $205,522. Insiders own 15.50% of the company’s stock.
Large investors have recently added to or reduced their stakes in the business. Ameritas Investment Partners Inc. boosted its position in TrueCar by 15.6% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,427 shares of the technology company’s stock worth $108,000 after acquiring an additional 734 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of TrueCar in the 3rd quarter valued at approximately $104,000. Massey Quick Simon & CO. LLC acquired a new stake in shares of TrueCar in the 3rd quarter valued at approximately $119,000. BNP Paribas Arbitrage SA boosted its holdings in shares of TrueCar by 648.1% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,937 shares of the technology company’s stock valued at $158,000 after buying an additional 6,876 shares during the last quarter. Finally, Great West Life Assurance Co. Can boosted its holdings in shares of TrueCar by 185.6% in the 2nd quarter. Great West Life Assurance Co. Can now owns 10,576 shares of the technology company’s stock valued at $210,000 after buying an additional 6,873 shares during the last quarter. 92.15% of the stock is owned by hedge funds and other institutional investors.
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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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