$96.18 Million in Sales Expected for TrueCar Inc (TRUE) This Quarter

Wall Street analysts forecast that TrueCar Inc (NASDAQ:TRUE) will post $96.18 million in sales for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for TrueCar’s earnings. The lowest sales estimate is $95.92 million and the highest is $96.49 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 company is expected to issue its next quarterly earnings report on Thursday, February 21st.

On average, analysts expect that TrueCar will report full year sales of $358.62 million for the current year, with estimates ranging from $358.38 million to $358.98 million. For the next fiscal year, analysts expect that the business will report sales of $413.77 million, with estimates ranging from $405.39 million to $423.98 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that that provide coverage for TrueCar.

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

Several equities analysts have recently issued reports on the company. Citigroup began coverage on TrueCar in a research report on Friday, December 7th. They set a “neutral” rating and a $11.50 target price for the company. Zacks Investment Research cut TrueCar from a “buy” rating to a “hold” rating in a report on Tuesday, October 16th. BTIG Research began coverage on TrueCar in a report on Tuesday, November 13th. They set a “buy” rating and a $13.00 price objective on the stock. B. Riley cut their price objective on TrueCar from $18.00 to $16.50 and set a “buy” rating on the stock in a report on Wednesday, November 7th. Finally, Benchmark cut their price objective on TrueCar from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Wednesday, November 7th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $14.00.

TrueCar stock opened at $9.80 on Tuesday. TrueCar has a 1 year low of $8.75 and a 1 year 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 news, EVP Robert Mcclung sold 7,669 shares of TrueCar 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 in the company, valued at approximately $1,739,966.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold a total of 9,168 shares of company stock worth $121,704 in the last quarter. 5.60% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale lifted its stake in TrueCar by 295.6% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 7,911 shares of the technology company’s stock valued at $101,000 after acquiring an additional 5,911 shares in the last quarter. PEAK6 Investments L.P. bought a new stake in TrueCar in the 2nd quarter valued at approximately $175,000. Oppenheimer Asset Management Inc. bought a new stake in TrueCar in the 3rd quarter valued at approximately $221,000. Public Employees Retirement Association of Colorado lifted its stake in TrueCar by 538.4% in the 3rd quarter. Public Employees Retirement Association of Colorado now owns 17,357 shares of the technology company’s stock valued at $245,000 after acquiring an additional 14,638 shares in the last quarter. Finally, Fox Run Management L.L.C. bought a new stake in TrueCar in the 3rd quarter valued at approximately $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.

See Also: Cost of equity and a company’s balance sheet

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Earnings History and Estimates for TrueCar (NASDAQ:TRUE)

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