Wall Street analysts expect TrueCar, Inc. (NASDAQ:TRUE) to report $81.15 million in sales for the current quarter, according to Zacks. Three analysts have issued estimates for TrueCar’s earnings. The highest sales estimate is $81.96 million and the lowest is $80.34 million. TrueCar reported sales of $74.08 million in the same quarter last year, which indicates a positive year over year growth rate of 9.5%. The business is scheduled to issue its next quarterly earnings report on Thursday, February 15th.
According to Zacks, analysts expect that TrueCar will report full year sales of $81.15 million for the current fiscal year, with estimates ranging from $320.35 million to $321.97 million. For the next fiscal year, analysts forecast that the firm will report sales of $359.86 million per share, with estimates ranging from $338.85 million to $371.27 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for TrueCar.
A number of equities research analysts have recently commented on TRUE shares. B. Riley reaffirmed a “buy” rating and set a $18.00 price target (down previously from $21.00) on shares of TrueCar in a research report on Tuesday, October 31st. Royal Bank Of Canada dropped their price target on TrueCar from $23.00 to $18.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 7th. Zacks Investment Research lowered TrueCar from a “hold” rating to a “sell” rating in a research report on Friday, October 6th. ValuEngine lowered TrueCar from a “hold” rating to a “sell” rating in a research report on Tuesday, November 7th. Finally, Morgan Stanley raised TrueCar from an “underweight” rating to an “equal weight” rating and set a $13.00 price target on the stock in a research report on Monday, October 2nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $17.44.
In related news, SVP John Pierantoni sold 3,964 shares of the stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $16.56, for a total transaction of $65,643.84. Following the completion of the transaction, the senior vice president now directly owns 67,589 shares in the company, valued at $1,119,273.84. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Neeraj Gunsagar sold 10,442 shares of the stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $16.56, for a total value of $172,919.52. Following the transaction, the executive vice president now owns 283,508 shares of the company’s stock, valued at $4,694,892.48. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 199,369 shares of company stock valued at $3,377,066. 15.50% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the business. Caledonia Private Investments Pty Ltd grew its stake in TrueCar by 35.7% in the third quarter. Caledonia Private Investments Pty Ltd now owns 16,240,758 shares of the technology company’s stock valued at $98,542,000 after purchasing an additional 4,268,501 shares in the last quarter. Vanguard Group Inc. grew 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 purchasing an additional 2,004,642 shares in the last quarter. Senvest Management LLC grew its stake in TrueCar by 4.6% in the third quarter. Senvest Management LLC now owns 3,975,385 shares of the technology company’s stock valued at $62,771,000 after purchasing an additional 174,103 shares in the last quarter. EastBay Asset Management LLC grew 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 purchasing an additional 1,408,301 shares in the last quarter. Finally, First Trust Advisors LP grew 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 purchasing an additional 104,381 shares in the last quarter. Hedge funds and other institutional investors own 92.06% of the company’s stock.
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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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