Brokerages predict that TrueCar Inc (NASDAQ:TRUE) will report $88.13 million in sales for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for TrueCar’s earnings, with estimates ranging from $87.34 million to $88.98 million. TrueCar posted sales of $81.82 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 7.7%. The business is expected to announce its next earnings results on Tuesday, August 14th.
On average, analysts expect that TrueCar will report full year sales of $360.78 million for the current year, with estimates ranging from $360.37 million to $361.28 million. For the next fiscal year, analysts anticipate that the business will report sales of $418.34 million per share, with estimates ranging from $410.21 million to $422.36 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that follow TrueCar.
TrueCar (NASDAQ:TRUE) last posted its quarterly earnings data on Tuesday, May 8th. The technology company reported $0.01 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.01. TrueCar had a negative return on equity of 8.62% and a negative net margin of 10.69%. The company had revenue of $81.06 million during the quarter, compared to analyst estimates of $81.36 million. During the same quarter last year, the company earned ($0.01) EPS. The firm’s revenue for the quarter was up 7.0% on a year-over-year basis.
TRUE has been the subject of a number of research analyst reports. Stephens set a $18.00 target price on TrueCar and gave the stock a “buy” rating in a report on Friday, February 16th. Zacks Investment Research raised TrueCar from a “sell” rating to a “hold” rating in a report on Thursday, February 22nd. ValuEngine lowered TrueCar from a “sell” rating to a “strong sell” rating in a report on Thursday, March 1st. JPMorgan Chase & Co. lowered TrueCar from a “neutral” rating to an “underweight” rating in a report on Thursday, March 22nd. Finally, Benchmark initiated coverage on TrueCar in a report on Thursday, March 22nd. They issued a “buy” rating and a $18.00 target price for the company. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. TrueCar presently has an average rating of “Hold” and an average price target of $15.84.
TrueCar traded down $0.06, reaching $9.68, on Tuesday, Marketbeat.com reports. 8,184 shares of the company traded hands, compared to its average volume of 1,789,780. TrueCar has a one year low of $8.75 and a one year high of $21.75. The company has a quick ratio of 7.14, a current ratio of 7.14 and a debt-to-equity ratio of 0.09. The firm has a market cap of $967.94 million, a PE ratio of -36.07 and a beta of 2.58.
Several hedge funds have recently added to or reduced their stakes in TRUE. Millennium Management LLC lifted its position in TrueCar by 51.0% during the first quarter. Millennium Management LLC now owns 1,495,661 shares of the technology company’s stock valued at $14,149,000 after purchasing an additional 505,158 shares in the last quarter. Verition Fund Management LLC purchased a new position in TrueCar during the first quarter valued at $100,000. Sciencast Management LP purchased a new position in TrueCar during the first quarter valued at $273,000. Cubist Systematic Strategies LLC lifted its position in TrueCar by 119.2% during the first quarter. Cubist Systematic Strategies LLC now owns 53,745 shares of the technology company’s stock valued at $508,000 after purchasing an additional 29,226 shares in the last quarter. Finally, Jane Street Group LLC purchased a new position in TrueCar during the first quarter valued at $170,000. Hedge funds and other institutional investors own 89.93% of the company’s stock.
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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