$93.78 Million in Sales Expected for TrueCar Inc (TRUE) This Quarter

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Equities analysts expect TrueCar Inc (NASDAQ:TRUE) to announce $93.78 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for TrueCar’s earnings. The lowest sales estimate is $93.24 million and the highest is $94.12 million. TrueCar posted sales of $82.44 million in the same quarter last year, which would indicate a positive year over year growth rate of 13.8%. The firm is scheduled to issue its next quarterly earnings results on Monday, November 5th.

On average, analysts expect that TrueCar will report full-year sales of $361.11 million for the current financial year, with estimates ranging from $360.52 million to $362.46 million. For the next financial year, analysts expect that the firm will report sales of $420.00 million per share, with estimates ranging from $410.21 million to $426.05 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research analysts that that provide coverage for TrueCar.

TrueCar (NASDAQ:TRUE) last issued its quarterly earnings data on Thursday, August 9th. The technology company reported $0.03 EPS for the quarter, hitting analysts’ consensus estimates of $0.03. The business had revenue of $87.85 million for the quarter, compared to analysts’ expectations of $87.81 million. TrueCar had a negative net margin of 10.07% and a negative return on equity of 8.42%. The business’s revenue was up 7.4% on a year-over-year basis. During the same quarter last year, the company earned $0.01 EPS.

A number of equities research analysts recently issued reports on TRUE shares. Zacks Investment Research cut shares of TrueCar from a “hold” rating to a “sell” rating in a research note on Saturday, May 12th. Benchmark reissued a “buy” rating and issued a $18.00 price target on shares of TrueCar in a research note on Thursday, May 3rd. Goldman Sachs Group cut shares of TrueCar from a “neutral” rating to a “sell” rating and dropped their price target for the company from $11.00 to $9.00 in a research note on Thursday, June 7th. ValuEngine raised shares of TrueCar from a “strong sell” rating to a “sell” rating in a research note on Monday, July 2nd. Finally, DA Davidson set a $13.00 price target on shares of TrueCar and gave the company a “hold” rating in a research note on Monday, August 13th. Two analysts have rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the stock. TrueCar presently has an average rating of “Hold” and a consensus price target of $15.13.

In other TrueCar news, CFO John Pierantoni sold 7,706 shares of the firm’s stock in a transaction on Thursday, July 5th. The stock was sold at an average price of $11.00, for a total value of $84,766.00. Following the transaction, the chief financial officer now owns 85,549 shares in the company, valued at approximately $941,039. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert Mcclung sold 16,968 shares of the firm’s stock in a transaction on Monday, July 30th. The shares were sold at an average price of $10.95, for a total value of $185,799.60. Following the completion of the transaction, the executive vice president now owns 144,323 shares in the company, valued at approximately $1,580,336.85. The disclosure for this sale can be found here. Insiders sold a total of 61,994 shares of company stock worth $691,138 in the last 90 days. 5.60% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Verition Fund Management LLC acquired a new stake in shares of TrueCar in the first quarter worth about $100,000. Xact Kapitalforvaltning AB acquired a new position in shares of TrueCar during the 4th quarter worth about $132,000. Amalgamated Bank acquired a new position in shares of TrueCar during the 2nd quarter worth about $141,000. PEAK6 Investments L.P. acquired a new position in shares of TrueCar during the 2nd quarter worth about $175,000. Finally, Jane Street Group LLC acquired a new position in shares of TrueCar during the 1st quarter worth about $170,000. Institutional investors and hedge funds own 89.74% of the company’s stock.

Shares of NASDAQ TRUE opened at $12.65 on Friday. The company has a market cap of $1.31 billion, a PE ratio of -46.85 and a beta of 2.57. TrueCar has a 12 month low of $8.75 and a 12 month high of $17.24. The company has a debt-to-equity ratio of 0.09, a quick ratio of 6.38 and a current ratio of 6.38.

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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