TrueCar, Inc. (NASDAQ:TRUE) – Equities research analysts at B. Riley issued their Q3 2017 earnings per share (EPS) estimates for TrueCar in a note issued to investors on Monday. B. Riley analyst S. Sinha anticipates that the technology company will earn ($0.06) per share for the quarter. B. Riley currently has a “Buy” rating and a $21.00 price objective on the stock. B. Riley also issued estimates for TrueCar’s Q4 2017 earnings at ($0.08) EPS, FY2017 earnings at ($0.31) EPS, Q1 2018 earnings at ($0.09) EPS, Q2 2018 earnings at ($0.03) EPS, Q3 2018 earnings at ($0.01) EPS, Q4 2018 earnings at $0.00 EPS, FY2018 earnings at ($0.13) EPS and FY2019 earnings at ($0.04) EPS.
Several other equities analysts have also commented on TRUE. Zacks Investment Research lowered TrueCar from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. Morgan Stanley restated an “underweight” rating and set a $13.00 price target (up previously from $12.00) on shares of TrueCar in a research note on Thursday, July 20th. Royal Bank Of Canada restated a “buy” rating and set a $22.00 price target on shares of TrueCar in a research note on Friday, August 4th. Finally, Cowen and Company restated a “hold” rating and set a $15.00 price target on shares of TrueCar in a research note on Thursday, August 17th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $18.50.
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Shares of TrueCar (NASDAQ:TRUE) opened at 16.11 on Thursday. The stock’s market capitalization is $1.59 billion. TrueCar has a 52-week low of $8.69 and a 52-week high of $21.75. The stock has a 50 day moving average of $16.33 and a 200-day moving average of $17.36.
TrueCar (NASDAQ:TRUE) last released its earnings results on Tuesday, August 8th. The technology company reported $0.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.02. The firm had revenue of $81.82 million for the quarter, compared to the consensus estimate of $80.75 million. TrueCar had a negative net margin of 9.86% and a negative return on equity of 11.00%. The company’s revenue was up 23.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.05) EPS.
Institutional investors have recently added to or reduced their stakes in the stock. Ameritas Investment Partners Inc. lifted its holdings in shares of TrueCar by 15.6% during the second quarter. Ameritas Investment Partners Inc. now owns 5,427 shares of the technology company’s stock worth $108,000 after purchasing an additional 734 shares during the period. BNP Paribas Arbitrage SA lifted its holdings in shares of TrueCar by 648.1% during the second quarter. BNP Paribas Arbitrage SA now owns 7,937 shares of the technology company’s stock worth $158,000 after purchasing an additional 6,876 shares during the period. North Star Investment Management Corp. acquired a new stake in shares of TrueCar during the second quarter worth about $179,000. Great West Life Assurance Co. Can lifted its holdings in shares of TrueCar by 185.6% during the second quarter. Great West Life Assurance Co. Can now owns 10,576 shares of the technology company’s stock worth $210,000 after purchasing an additional 6,873 shares during the period. Finally, Sei Investments Co. acquired a new stake in shares of TrueCar during the first quarter worth about $167,000. 91.71% of the stock is owned by hedge funds and other institutional investors.
In other TrueCar news, EVP Jeff Swart sold 34,863 shares of the firm’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $19.82, for a total value of $690,984.66. Following the completion of the sale, the executive vice president now owns 99,084 shares of the company’s stock, valued at $1,963,844.88. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP John Pierantoni sold 55,895 shares of the firm’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $19.81, for a total value of $1,107,279.95. Following the completion of the sale, the senior vice president now directly owns 125,767 shares of the company’s stock, valued at approximately $2,491,444.27. The disclosure for this sale can be found here. Insiders sold 2,011,936 shares of company stock worth $37,176,200 in the last quarter. 15.50% of the stock is owned by 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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