Zacks: Analysts Anticipate TrueCar, Inc. (NASDAQ:TRUE) to Announce -$0.08 EPS
Brokerages expect that TrueCar, Inc. (NASDAQ:TRUE) will report ($0.08) earnings per share for the current quarter, Zacks reports. Three analysts have provided estimates for TrueCar’s earnings, with the lowest EPS estimate coming in at ($0.08) and the highest estimate coming in at ($0.07). TrueCar reported earnings per share of ($0.12) during the same quarter last year, which would indicate a positive year-over-year growth rate of 33.3%. The firm is expected to issue its next quarterly earnings results on Tuesday, August 8th.
On average, analysts expect that TrueCar will report full-year earnings of ($0.30) per share for the current year, with EPS estimates ranging from ($0.31) to ($0.28). For the next fiscal year, analysts forecast that the company will report earnings of ($0.07) per share. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side research firms that follow TrueCar.
TRUE has been the topic of several research analyst reports. Craig Hallum raised their target price on shares of TrueCar from $20.00 to $23.00 and gave the stock a “buy” rating in a research report on Wednesday, May 10th. Royal Bank Of Canada reissued a “buy” rating and issued a $22.00 target price on shares of TrueCar in a research report on Friday, August 4th. B. Riley reissued a “buy” rating and issued a $21.50 target price on shares of TrueCar in a research report on Tuesday, May 2nd. Zacks Investment Research cut shares of TrueCar from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. Finally, Cowen and Company raised their target price on shares of TrueCar from $13.00 to $15.00 and gave the stock a “market perform” rating in a research report on Tuesday, April 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $18.44.
TrueCar (NASDAQ TRUE) opened at 16.73 on Thursday. TrueCar has a 12-month low of $8.09 and a 12-month high of $21.75. The firm has a 50-day moving average of $19.66 and a 200 day moving average of $16.67. The firm’s market capitalization is $1.55 billion.
In other TrueCar news, SVP John Pierantoni sold 55,895 shares of TrueCar stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $19.81, for a total transaction of $1,107,279.95. Following the transaction, the senior vice president now directly owns 125,767 shares of the company’s stock, valued at $2,491,444.27. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Jeff Swart sold 34,863 shares of TrueCar stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $19.82, for a total transaction of $690,984.66. Following the transaction, the executive vice president now directly owns 99,084 shares in the company, valued at $1,963,844.88. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,513,149 shares of company stock worth $28,870,907. 17.30% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. First Mercantile Trust Co. acquired a new position in shares of TrueCar during the first quarter worth $141,000. BNP Paribas Arbitrage SA boosted its position in TrueCar by 648.1% in the second quarter. BNP Paribas Arbitrage SA now owns 7,937 shares of the technology company’s stock worth $158,000 after buying an additional 6,876 shares during the last quarter. Sei Investments Co. purchased a new position in TrueCar during the first quarter worth approximately $167,000. North Star Investment Management Corp. purchased a new position in TrueCar during the second quarter worth approximately $179,000. Finally, SG Americas Securities LLC purchased a new position in TrueCar during the first quarter worth approximately $190,000. 83.72% of the stock is currently owned by hedge funds and other institutional investors.
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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