Equities research analysts expect TrueCar, Inc. (NASDAQ:TRUE) to announce sales of $86.68 million for the current fiscal quarter, Zacks reports. Three analysts have provided estimates for TrueCar’s earnings, with estimates ranging from $85.93 million to $87.65 million. TrueCar reported sales of $75.14 million during the same quarter last year, which indicates a positive year over year growth rate of 15.4%. The firm is expected to report its next quarterly earnings results after the market closes on Monday, November 6th.

According to Zacks, analysts expect that TrueCar will report full-year sales of $86.68 million for the current financial year, with estimates ranging from $327.19 million to $331.02 million. For the next year, analysts expect that the business will post 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 research analysts that follow TrueCar.

TrueCar (NASDAQ:TRUE) last announced 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. The company had revenue of $81.82 million during the quarter, compared to the consensus estimate of $80.75 million. TrueCar had a negative return on equity of 11.00% and a negative net margin of 9.86%. The company’s revenue was up 23.2% on a year-over-year basis. During the same period last year, the firm earned ($0.05) earnings per share.

A number of research analysts have recently commented on TRUE shares. B. Riley reaffirmed a “buy” rating and set a $21.00 price objective on shares of TrueCar in a research report on Monday, October 2nd. Royal Bank Of Canada reaffirmed a “buy” rating and set a $22.00 price objective on shares of TrueCar in a research report on Friday, August 4th. Cowen and Company reaffirmed a “hold” rating and set a $15.00 price objective on shares of TrueCar in a research report on Thursday, August 17th. Morgan Stanley raised shares of TrueCar from an “underweight” rating to an “equal weight” rating and set a $13.00 price objective for the company in a research report on Monday, October 2nd. Finally, Zacks Investment Research lowered shares of TrueCar from a “buy” rating to a “hold” rating in a research report on Thursday, July 13th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $18.33.

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Shares of TrueCar (NASDAQ:TRUE) traded down 2.19% during mid-day trading on Wednesday, hitting $15.18. The stock had a trading volume of 318,925 shares. The stock has a 50-day moving average price of $15.96 and a 200 day moving average price of $17.43. The stock’s market cap is $1.50 billion. TrueCar has a 52 week low of $9.16 and a 52 week high of $21.75.

In related news, SVP John Pierantoni sold 3,964 shares of the company’s stock in a transaction dated Monday, September 18th. The shares were sold at an average price of $16.56, for a total value of $65,643.84. Following the sale, the senior vice president now owns 67,589 shares of the company’s stock, valued at $1,119,273.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Neeraj Gunsagar sold 1,882 shares of the company’s stock in a transaction dated Monday, October 16th. The shares were sold at an average price of $15.22, for a total transaction of $28,644.04. The disclosure for this sale can be found here. In the last three months, insiders sold 1,782,525 shares of company stock worth $32,623,986. 15.50% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Caledonia Private Investments Pty Ltd increased its stake in TrueCar by 158.6% in the second quarter. Caledonia Private Investments Pty Ltd now owns 11,972,257 shares of the technology company’s stock valued at $238,607,000 after acquiring an additional 7,342,518 shares during the period. Vanguard Group Inc. increased its stake in TrueCar by 43.9% in the second quarter. Vanguard Group Inc. now owns 6,574,867 shares of the technology company’s stock valued at $131,037,000 after acquiring an additional 2,004,642 shares during the period. EastBay Asset Management LLC increased its stake in TrueCar by 94.7% in the second quarter. EastBay Asset Management LLC now owns 2,894,876 shares of the technology company’s stock valued at $57,695,000 after acquiring an additional 1,408,301 shares during the period. First Trust Advisors LP increased its stake in TrueCar by 3.8% in the third quarter. First Trust Advisors LP now owns 2,851,218 shares of the technology company’s stock valued at $45,021,000 after acquiring an additional 104,381 shares during the period. Finally, Steadfast Capital Management LP bought a new stake in TrueCar in the second quarter valued at about $56,303,000. 91.88% of the stock is currently owned by institutional investors and hedge funds.

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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