TrueCar, Inc. (TRUE) Set to Announce Earnings on Wednesday
TrueCar, Inc. (NASDAQ:TRUE) will release its earnings data after the market closes on Wednesday, August 2nd. Analysts expect TrueCar to post earnings of ($0.01) per share for the quarter.
TrueCar (NASDAQ:TRUE) last announced its quarterly earnings data on Tuesday, May 9th. The technology company reported ($0.01) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.02) by $0.01. TrueCar had a negative return on equity of 13.82% and a negative net margin of 12.64%. The company had revenue of $75.80 million for the quarter, compared to analyst estimates of $73.34 million. During the same quarter last year, the firm earned ($0.07) EPS. TrueCar’s revenue for the quarter was up 22.5% compared to the same quarter last year. On average, analysts expect TrueCar to post $-0.01 EPS for the current fiscal year and $0.14 EPS for the next fiscal year.
Shares of TrueCar, Inc. (NASDAQ:TRUE) opened at 20.81 on Wednesday. The stock’s 50 day moving average price is $19.59 and its 200 day moving average price is $16.19. The firm’s market cap is $1.93 billion. TrueCar, Inc. has a one year low of $8.09 and a one year high of $21.75.
Several research firms have recently commented on TRUE. Morgan Stanley reaffirmed an “underweight” rating and issued a $13.00 target price (up previously from $12.00) on shares of TrueCar in a research report on Thursday, July 20th. Zacks Investment Research downgraded TrueCar from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. B. Riley reaffirmed a “buy” rating and issued a $21.50 target price on shares of TrueCar in a research report on Sunday, June 25th. TheStreet raised TrueCar from a “d” rating to a “c” rating in a research report on Monday, May 15th. Finally, Craig Hallum upped their target price on TrueCar from $20.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, May 10th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $17.25.
In related news, major shareholder Services Automobile Ass United sold 3,132,343 shares of the stock in a transaction that occurred on Tuesday, May 2nd. The stock was sold at an average price of $16.50, for a total transaction of $51,683,659.50. Following the sale, the insider now owns 8,533,348 shares of the company’s stock, valued at $140,800,242. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Steven J. Dietz sold 1,320,692 shares of the stock in a transaction that occurred on Tuesday, May 2nd. The stock was sold at an average price of $16.50, for a total value of $21,791,418.00. The disclosure for this sale can be found here. Insiders sold 6,178,035 shares of company stock worth $100,592,078 in the last ninety days. 17.30% of the stock is owned by company insiders.
TrueCar Company Profile
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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