$89.73 Million in Sales Expected for TrueCar Inc (NASDAQ:TRUE) This Quarter

Brokerages expect that TrueCar Inc (NASDAQ:TRUE) will post $89.73 million in sales for the current fiscal quarter, according to Zacks. Four analysts have made estimates for TrueCar’s earnings, with estimates ranging from $89.36 million to $90.00 million. TrueCar reported sales of $87.85 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 2.1%. The company is expected to announce its next earnings report after the market closes on Thursday, August 8th.

According to Zacks, analysts expect that TrueCar will report full-year sales of $364.38 million for the current financial year, with estimates ranging from $360.70 million to $368.57 million. For the next year, analysts forecast that the company will post sales of $396.24 million, with estimates ranging from $379.45 million to $422.08 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover TrueCar.

TrueCar (NASDAQ:TRUE) last announced its quarterly earnings results on Thursday, May 9th. The technology company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.01. The firm had revenue of $85.60 million for the quarter, compared to analysts’ expectations of $84.99 million. TrueCar had a negative net margin of 9.39% and a negative return on equity of 7.97%. The company’s revenue was up 5.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.01 EPS.

A number of research analysts have commented on TRUE shares. ValuEngine raised shares of TrueCar from a “sell” rating to a “hold” rating in a research report on Thursday. Cowen started coverage on shares of TrueCar in a research report on Monday, May 20th. They issued a “hold” rating and a $7.00 target price on the stock. SunTrust Banks reaffirmed a “hold” rating and issued a $8.00 target price on shares of TrueCar in a research report on Tuesday, May 14th. Finally, Zacks Investment Research cut shares of TrueCar from a “hold” rating to a “sell” rating in a research report on Saturday, July 27th. Two research analysts have rated the stock with a sell rating and ten have given a hold rating to the stock. TrueCar presently has a consensus rating of “Hold” and a consensus price target of $9.91.

NASDAQ TRUE traded up $0.03 during trading hours on Monday, reaching $5.33. The company had a trading volume of 672,046 shares, compared to its average volume of 1,105,436. The firm has a 50-day moving average price of $5.31. TrueCar has a 1-year low of $4.98 and a 1-year high of $14.55. The company has a debt-to-equity ratio of 0.12, a current ratio of 5.09 and a quick ratio of 5.09. The company has a market capitalization of $534.87 million, a PE ratio of -20.50 and a beta of 1.55.

In other news, EVP Robert Mcclung sold 7,669 shares of the stock in a transaction dated Tuesday, June 18th. The shares were sold at an average price of $5.41, for a total transaction of $41,489.29. Following the sale, the executive vice president now owns 121,744 shares of the company’s stock, valued at $658,635.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.00% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Amundi Pioneer Asset Management Inc. acquired a new stake in shares of TrueCar during the fourth quarter worth about $92,000. Advisory Services Network LLC acquired a new stake in shares of TrueCar during the second quarter worth about $60,000. Amalgamated Bank acquired a new stake in shares of TrueCar during the fourth quarter worth about $126,000. Quantamental Technologies LLC lifted its position in shares of TrueCar by 654.8% during the first quarter. Quantamental Technologies LLC now owns 14,069 shares of the technology company’s stock worth $93,000 after purchasing an additional 12,205 shares in the last quarter. Finally, BNP Paribas Arbitrage SA lifted its position in shares of TrueCar by 1,117.5% during the first quarter. BNP Paribas Arbitrage SA now owns 21,441 shares of the technology company’s stock worth $142,000 after purchasing an additional 19,680 shares in the last quarter. 94.98% of the stock is currently owned by institutional investors and hedge funds.

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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Earnings History and Estimates for TrueCar (NASDAQ:TRUE)

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