TrueCar Inc (TRUE) Forecasted to Post FY2020 Earnings of ($0.09) Per Share
TrueCar Inc (NASDAQ:TRUE) – B. Riley issued their FY2020 earnings per share estimates for TrueCar in a report issued on Wednesday, November 7th. B. Riley analyst S. Sinha anticipates that the technology company will earn ($0.09) per share for the year. B. Riley currently has a “Buy” rating and a $16.50 price objective on the stock.
Several other equities analysts have also recently weighed in on the company. BTIG Research assumed coverage on TrueCar in a report on Tuesday. They set a “buy” rating and a $13.00 price target on the stock. Benchmark lowered their price target on TrueCar from $18.00 to $16.00 and set a “buy” rating on the stock in a report on Wednesday, November 7th. Zacks Investment Research cut TrueCar from a “buy” rating to a “hold” rating in a report on Tuesday, October 16th. ValuEngine raised TrueCar from a “sell” rating to a “hold” rating in a report on Thursday, September 13th. Finally, DA Davidson set a $13.00 price target on TrueCar and gave the company a “hold” rating in a report on Monday, August 13th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $14.36.
TrueCar (NASDAQ:TRUE) last released its quarterly earnings data on Tuesday, November 6th. The technology company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.05 by ($0.01). The business had revenue of $93.59 million during the quarter, compared to the consensus estimate of $93.89 million. TrueCar had a negative net margin of 8.80% and a negative return on equity of 7.56%. The business’s revenue was up 13.5% compared to the same quarter last year. During the same period last year, the company posted $0.02 earnings per share.
Several large investors have recently bought and sold shares of the company. Senvest Management LLC increased its stake in shares of TrueCar by 11.3% in the 2nd quarter. Senvest Management LLC now owns 8,126,025 shares of the technology company’s stock worth $81,992,000 after purchasing an additional 821,933 shares in the last quarter. BlackRock Inc. increased its stake in shares of TrueCar by 1.7% in the 3rd quarter. BlackRock Inc. now owns 6,246,908 shares of the technology company’s stock worth $88,083,000 after purchasing an additional 107,392 shares in the last quarter. Ontario Teachers Pension Plan Board increased its stake in shares of TrueCar by 11.4% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 5,850,000 shares of the technology company’s stock worth $82,485,000 after purchasing an additional 600,000 shares in the last quarter. 683 Capital Management LLC increased its stake in shares of TrueCar by 3.7% in the 2nd quarter. 683 Capital Management LLC now owns 3,383,358 shares of the technology company’s stock worth $34,138,000 after purchasing an additional 120,000 shares in the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in shares of TrueCar by 6.1% in the 3rd quarter. Canada Pension Plan Investment Board now owns 1,091,500 shares of the technology company’s stock worth $15,390,000 after purchasing an additional 63,000 shares in the last quarter. Hedge funds and other institutional investors own 95.54% of the company’s stock.
In other news, EVP Robert Mcclung sold 7,669 shares of the stock in a transaction on 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 directly owns 128,791 shares of the company’s stock, valued at approximately $1,739,966.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 9,167 shares of company stock worth $121,994 over the last three months. Insiders own 5.60% of the company’s stock.
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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