Wall Street brokerages predict that TrueCar, Inc. (NASDAQ:TRUE) will post sales of $86.68 million for the current quarter, according to Zacks Investment Research. Three analysts have issued estimates for TrueCar’s earnings, with the highest sales estimate coming in at $87.65 million and the lowest estimate coming in at $85.93 million. TrueCar posted sales of $75.14 million during the same quarter last year, which would indicate a positive year over year growth rate of 15.4%. The business is scheduled to announce its next quarterly earnings report on Thursday, November 2nd.

According to Zacks, analysts expect that TrueCar will report full-year sales of $86.68 million for the current year, with estimates ranging from $327.19 million to $331.02 million. For the next year, analysts expect that the firm will report sales of $376.94 million per share, with estimates ranging from $372.11 million to $385.66 million. Zacks’ sales calculations are a mean average based on a survey of analysts that cover TrueCar.

TrueCar (NASDAQ:TRUE) last released its earnings results on Tuesday, August 8th. The technology company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.02. TrueCar had a negative net margin of 9.86% and a negative return on equity of 11.00%. The business had revenue of $81.82 million during the quarter, compared to analysts’ expectations of $80.75 million. During the same period last year, the business earned ($0.05) earnings per share. The firm’s revenue was up 23.2% on a year-over-year basis.

A number of equities research analysts recently commented on TRUE shares. Morgan Stanley reissued an “underweight” rating and issued a $13.00 price target (up from $12.00) on shares of TrueCar in a research report on Thursday, July 20th. Zacks Investment Research lowered TrueCar from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. B. Riley reissued a “buy” rating and issued a $21.50 price target on shares of TrueCar in a research report on Sunday, June 25th. Royal Bank Of Canada reissued a “buy” rating and issued a $22.00 price target on shares of TrueCar in a research report on Friday, August 4th. Finally, Cowen and Company reissued a “hold” rating and issued a $15.00 price target on shares of TrueCar in a research report on Thursday, August 17th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. TrueCar presently has an average rating of “Buy” and a consensus target price of $18.50.

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In other TrueCar news, SVP John Pierantoni sold 2,633 shares of the company’s stock in a transaction on Tuesday, October 3rd. The stock was sold at an average price of $15.87, for a total value of $41,785.71. Following the completion of the transaction, the senior vice president now owns 63,027 shares in the company, valued at approximately $1,000,238.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michael Guthrie sold 322,865 shares of the company’s stock in a transaction on Friday, July 28th. The shares were sold at an average price of $19.12, for a total value of $6,173,178.80. Following the completion of the transaction, the chief financial officer now owns 359,847 shares of the company’s stock, valued at approximately $6,880,274.64. The disclosure for this sale can be found here. Insiders sold a total of 2,011,936 shares of company stock valued at $37,176,200 in the last 90 days. Corporate insiders own 15.50% of the company’s stock.

Large investors have recently made changes to their positions in the business. Balter Liquid Alternatives LLC bought a new position in TrueCar in the 1st quarter valued at $953,000. State Board of Administration of Florida Retirement System grew its stake in TrueCar by 17.4% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 108,191 shares of the technology company’s stock valued at $2,156,000 after purchasing an additional 16,019 shares during the period. Park West Asset Management LLC bought a new position in TrueCar in the 1st quarter valued at $15,506,000. Caledonia Private Investments Pty Ltd grew its stake in TrueCar by 143.2% in the 1st quarter. Caledonia Private Investments Pty Ltd now owns 4,629,739 shares of the technology company’s stock valued at $71,622,000 after purchasing an additional 2,725,970 shares during the period. Finally, Ameriprise Financial Inc. grew its stake in TrueCar by 6.6% in the 1st quarter. Ameriprise Financial Inc. now owns 112,937 shares of the technology company’s stock valued at $1,747,000 after purchasing an additional 7,011 shares during the period. Hedge funds and other institutional investors own 91.71% of the company’s stock.

TrueCar (NASDAQ TRUE) opened at 16.27 on Friday. TrueCar has a 1-year low of $8.47 and a 1-year high of $21.75. The company has a 50 day moving average of $16.33 and a 200 day moving average of $17.35. The company’s market capitalization is $1.60 billion.

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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Earnings History and Estimates for TrueCar (NASDAQ:TRUE)

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