Zacks: Brokerages Anticipate TrueCar Inc (TRUE) Will Announce Quarterly Sales of $81.15 Million

Analysts expect TrueCar Inc (NASDAQ:TRUE) to announce sales of $81.15 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for TrueCar’s earnings, with the lowest sales estimate coming in at $80.34 million and the highest estimate coming in at $81.96 million. TrueCar posted sales of $74.08 million in the same quarter last year, which suggests 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.

On average, analysts expect that TrueCar will report full year sales of $81.15 million for the current financial year, with estimates ranging from $320.35 million to $321.97 million. For the next year, analysts forecast that the firm will post sales of $358.57 million per share, with estimates ranging from $338.85 million to $367.06 million. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for TrueCar.

TrueCar (NASDAQ:TRUE) last announced its quarterly earnings results on Monday, November 6th. The technology company reported ($0.08) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.05) by ($0.03). TrueCar had a negative return on equity of 10.38% and a negative net margin of 10.29%.

Several equities research analysts have recently weighed in on TRUE shares. B. Riley reaffirmed a “buy” rating and issued a $21.00 target price on shares of TrueCar in a research report on Monday, October 2nd. Zacks Investment Research raised TrueCar from a “sell” rating to a “hold” rating in a research report on Thursday, January 11th. ValuEngine downgraded TrueCar from a “hold” rating to a “sell” rating in a research report on Tuesday, November 7th. Morgan Stanley raised TrueCar from an “underweight” rating to an “equal weight” rating and set a $13.00 target price for the company in a research report on Monday, October 2nd. Finally, Royal Bank of Canada decreased their target price on TrueCar from $23.00 to $18.00 and set an “outperform” rating for the company in a research report on Tuesday, November 7th. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $17.50.

In other TrueCar news, EVP Neeraj Gunsagar sold 10,443 shares of the company’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $11.28, for a total transaction of $117,797.04. Following the sale, the executive vice president now owns 254,144 shares in the company, valued at $2,866,744.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP John Pierantoni sold 2,494 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $11.29, for a total value of $28,157.26. Following the sale, the senior vice president now owns 57,513 shares in the company, valued at approximately $649,321.77. The disclosure for this sale can be found here. Insiders sold 15,670 shares of company stock valued at $177,654 in the last three months. 15.50% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Schwab Charles Investment Management Inc. raised its stake in TrueCar by 4.6% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 348,406 shares of the technology company’s stock valued at $3,903,000 after buying an additional 15,258 shares in the last quarter. Bank of Montreal Can raised its stake in TrueCar by 392.6% during the fourth quarter. Bank of Montreal Can now owns 1,000,852 shares of the technology company’s stock valued at $11,210,000 after buying an additional 797,658 shares in the last quarter. CWM LLC acquired a new stake in TrueCar during the fourth quarter valued at approximately $1,717,000. Public Employees Retirement System of Ohio acquired a new stake in TrueCar during the third quarter valued at approximately $1,639,000. Finally, California Public Employees Retirement System raised its stake in TrueCar by 5.0% during the third quarter. California Public Employees Retirement System now owns 191,042 shares of the technology company’s stock valued at $3,017,000 after buying an additional 9,042 shares in the last quarter. Hedge funds and other institutional investors own 92.70% of the company’s stock.

Shares of TrueCar (TRUE) opened at $11.77 on Tuesday. The company has a market capitalization of $1,180.00, a PE ratio of -33.63 and a beta of 2.70. The company has a debt-to-equity ratio of 0.09, a quick ratio of 6.31 and a current ratio of 6.31. TrueCar has a 12 month low of $10.16 and a 12 month high of $21.75.

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About TrueCar

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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