TrueCar, Inc. (NASDAQ:TRUE) Expected to Announce Quarterly Sales of $44.72 Million

Equities analysts expect TrueCar, Inc. (NASDAQ:TRUE – Get Rating) to post sales of $44.72 million for the current fiscal quarter, according to Zacks Investment Research. Two analysts have made estimates for TrueCar’s earnings. The highest sales estimate is $45.60 million and the lowest is $43.83 million. TrueCar reported sales of $65.77 million during the same quarter last year, which indicates a negative year-over-year growth rate of 32%. The company is expected to announce its next quarterly earnings results on Monday, January 1st.

On average, analysts expect that TrueCar will report full-year sales of $184.67 million for the current financial year, with estimates ranging from $180.40 million to $188.94 million. For the next financial year, analysts anticipate that the firm will report sales of $247.30 million, with estimates ranging from $225.30 million to $269.30 million. Zacks Investment Research’s sales averages are a mean average based on a survey of analysts that follow TrueCar.

TrueCar (NASDAQ:TRUE – Get Rating) last issued its earnings results on Tuesday, February 22nd. The technology company reported ($0.16) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.08). TrueCar had a negative return on equity of 10.95% and a negative net margin of 16.54%. The business had revenue of $45.86 million for the quarter, compared to analyst estimates of $53.78 million.

Several equities research analysts have recently weighed in on TRUE shares. Zacks Investment Research raised TrueCar from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 27th. DA Davidson dropped their price target on TrueCar from $3.85 to $3.50 and set a “neutral” rating on the stock in a research note on Thursday, February 24th. Benchmark dropped their price target on TrueCar from $7.00 to $6.00 and set a “buy” rating on the stock in a research note on Thursday, February 24th. StockNews.com started coverage on TrueCar in a research note on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Northcoast Research assumed coverage on TrueCar in a research note on Wednesday, February 2nd. They set a “neutral” rating on the stock. Seven analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $4.25.

Shares of NASDAQ TRUE opened at $2.85 on Wednesday. TrueCar has a fifty-two week low of $2.75 and a fifty-two week high of $6.22. The firm has a market cap of $266.72 million, a price-to-earnings ratio of -7.31 and a beta of 1.01. The stock’s 50-day simple moving average is $3.67.

Several hedge funds have recently made changes to their positions in the business. Teacher Retirement System of Texas grew its stake in shares of TrueCar by 20.3% in the 3rd quarter. Teacher Retirement System of Texas now owns 15,083 shares of the technology company’s stock valued at $63,000 after purchasing an additional 2,540 shares during the last quarter. Parametric Portfolio Associates LLC lifted its holdings in shares of TrueCar by 5.0% in the 4th quarter. Parametric Portfolio Associates LLC now owns 77,435 shares of the technology company’s stock valued at $263,000 after buying an additional 3,675 shares during the period. Dynamic Technology Lab Private Ltd lifted its holdings in shares of TrueCar by 30.9% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 17,473 shares of the technology company’s stock valued at $73,000 after buying an additional 4,122 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in shares of TrueCar by 1.1% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 378,948 shares of the technology company’s stock valued at $1,288,000 after buying an additional 4,197 shares during the period. Finally, Royce & Associates LP lifted its holdings in shares of TrueCar by 47.3% in the 4th quarter. Royce & Associates LP now owns 16,366 shares of the technology company’s stock valued at $56,000 after buying an additional 5,257 shares during the period.

About TrueCar (Get Rating)

TrueCar, Inc operates as an internet-based information, technology, and communication services company in the United States. It operates its platform on the TrueCar website and mobile applications. Its platform enables users to obtain market-based pricing data on new and used cars, and to connect with its network of TrueCar certified dealers.

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