Brokerages Anticipate TrueCar, Inc. (TRUE) Will Post Quarterly Sales of $81.15 Million
Equities research analysts expect TrueCar, Inc. (NASDAQ:TRUE) to announce $81.15 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have issued estimates for TrueCar’s earnings, with the highest sales estimate coming in at $81.96 million and the lowest estimate coming in at $80.34 million. TrueCar reported sales of $74.08 million during the same quarter last year, which indicates a positive year-over-year growth rate of 9.5%. The company is scheduled to announce its next earnings results on Thursday, February 15th.
According to Zacks, analysts expect that TrueCar will report full year sales of $81.15 million for the current financial year, with estimates ranging from $320.35 million to $321.97 million. For the next fiscal year, analysts anticipate that the business will report sales of $361.60 million per share, with estimates ranging from $338.85 million to $374.03 million. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for TrueCar.
A number of brokerages have weighed in on TRUE. Morgan Stanley reiterated an “underweight” rating and set a $13.00 price target (up from $12.00) on shares of TrueCar in a report on Thursday, July 20th. B. Riley restated a “buy” rating and issued a $18.00 target price (down from $21.00) on shares of TrueCar in a research note on Tuesday, October 31st. Zacks Investment Research downgraded TrueCar from a “hold” rating to a “sell” rating in a research note on Friday, October 6th. Royal Bank Of Canada cut their price target on TrueCar from $23.00 to $18.00 and set an “outperform” rating for the company in a research note on Tuesday, November 7th. Finally, Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and set a $17.00 target price on shares of TrueCar in a research report on Wednesday, October 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. TrueCar currently has an average rating of “Hold” and a consensus target price of $17.44.
In other news, EVP Neeraj Gunsagar sold 1,882 shares of the business’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $15.22, for a total value of $28,644.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP John Pierantoni sold 3,964 shares of the business’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $16.56, for a total transaction of $65,643.84. Following the completion of the sale, the senior vice president now owns 67,589 shares of the company’s stock, valued at approximately $1,119,273.84. The disclosure for this sale can be found here. Insiders have sold a total of 490,669 shares of company stock valued at $8,168,936 in the last quarter. 15.50% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. grew 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 purchasing an additional 734 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of TrueCar in the 3rd quarter valued at $104,000. Massey Quick Simon & CO. LLC purchased a new stake in shares of TrueCar in the 3rd quarter valued at $119,000. BNP Paribas Arbitrage SA lifted its stake 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 purchasing an additional 6,876 shares during the period. Finally, North Star Investment Management Corp. acquired a new position in shares of TrueCar in the 2nd quarter valued at $179,000. Hedge funds and other institutional investors own 91.28% of the company’s stock.
TrueCar (TRUE) opened at $10.98 on Tuesday. The company has a quick ratio of 6.31, a current ratio of 6.31 and a debt-to-equity ratio of 0.09. TrueCar has a 12-month low of $10.16 and a 12-month high of $21.75.
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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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