TrueCar, Inc. (TRUE) Expected to Announce Quarterly Sales of $81.11 Million

Brokerages predict that TrueCar, Inc. (NASDAQ:TRUE) will announce $81.11 million in sales for the current quarter, Zacks reports. Three analysts have made estimates for TrueCar’s earnings, with the lowest sales estimate coming in at $80.96 million and the highest estimate coming in at $81.32 million. TrueCar posted sales of $75.76 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 7.1%. The firm is scheduled to announce its next earnings results on Tuesday, May 8th.

On average, analysts expect that TrueCar will report full-year sales of $81.11 million for the current fiscal year, with estimates ranging from $360.37 million to $362.83 million. For the next year, analysts anticipate that the firm will post sales of $415.92 million per share, with estimates ranging from $410.21 million to $422.73 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow TrueCar.

How to Become a New Pot Stock Millionaire

TrueCar (NASDAQ:TRUE) last issued its quarterly earnings results on Thursday, February 15th. The technology company reported $0.05 EPS for the quarter, topping the Zacks’ consensus estimate of $0.01 by $0.04. TrueCar had a negative return on equity of 8.70% and a negative net margin of 10.16%. The company had revenue of $83.13 million during the quarter, compared to analysts’ expectations of $81.72 million. During the same quarter in the previous year, the firm posted ($0.01) EPS. The firm’s revenue was up 12.2% compared to the same quarter last year.

A number of brokerages have commented on TRUE. DA Davidson began coverage on TrueCar in a research report on Wednesday. They set a “neutral” rating and a $9.75 price target for the company. ValuEngine cut TrueCar from a “sell” rating to a “strong sell” rating in a research report on Thursday, March 1st. Benchmark began coverage on TrueCar in a research note on Thursday, March 22nd. They set a “buy” rating and a $18.00 price objective for the company. B. Riley reiterated a “buy” rating and set a $18.00 price objective on shares of TrueCar in a research note on Wednesday, January 24th. Finally, Stephens set a $18.00 price objective on TrueCar and gave the company a “buy” rating in a research note on Friday, February 16th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and five have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $16.64.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. UBS Asset Management Americas Inc. raised its stake in shares of TrueCar by 11.5% during the 4th quarter. UBS Asset Management Americas Inc. now owns 45,407 shares of the technology company’s stock valued at $509,000 after buying an additional 4,700 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of TrueCar during the 3rd quarter valued at about $104,000. American International Group Inc. raised its stake in shares of TrueCar by 18.3% during the 3rd quarter. American International Group Inc. now owns 45,936 shares of the technology company’s stock valued at $725,000 after buying an additional 7,101 shares during the last quarter. California Public Employees Retirement System increased its stake in shares of TrueCar by 5.0% in the 3rd quarter. California Public Employees Retirement System now owns 191,042 shares of the technology company’s stock valued at $3,017,000 after purchasing an additional 9,042 shares in the last quarter. Finally, Teachers Advisors LLC increased its stake in shares of TrueCar by 8.0% in the 4th quarter. Teachers Advisors LLC now owns 125,229 shares of the technology company’s stock valued at $1,403,000 after purchasing an additional 9,231 shares in the last quarter. Institutional investors and hedge funds own 89.02% of the company’s stock.

TRUE traded down $0.05 on Friday, reaching $9.28. 909,475 shares of the stock were exchanged, compared to its average volume of 1,929,343. TrueCar has a fifty-two week low of $8.88 and a fifty-two week high of $21.75. The company has a debt-to-equity ratio of 0.09, a quick ratio of 6.41 and a current ratio of 6.41. The stock has a market cap of $957.32, a P/E ratio of -34.37 and a beta of 2.59.

ILLEGAL ACTIVITY WARNING: This report was first reported by Ticker Report and is the property of of Ticker Report. If you are viewing this report on another domain, it was copied illegally and reposted in violation of U.S. & international copyright law. The correct version of this report can be accessed at https://www.tickerreport.com/banking-finance/3336257/truecar-inc-true-expected-to-announce-quarterly-sales-of-81-11-million.html.

TrueCar Company Profile

TrueCar, Inc, together with its subsidiaries, 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. The company also customizes and operates its platform for its affinity group marketing partners, including financial institutions, membership-based organizations, and employee buying programs for large enterprises.

Get a free copy of the Zacks research report on TrueCar (TRUE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for TrueCar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TrueCar and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Opescoin Reaches 24-Hour Volume of $17.00
Opescoin Reaches 24-Hour Volume of $17.00
Brokerages Set $36.67 Price Target for Old Line Bancshares, Inc.
Brokerages Set $36.67 Price Target for Old Line Bancshares, Inc.
Comparing Jumei International  and Titan Machinery
Comparing Jumei International and Titan Machinery
Tezos   Hits 24 Hour Trading Volume of $775,031.00
Tezos Hits 24 Hour Trading Volume of $775,031.00
Renos  One Day Trading Volume Tops $3,382.00
Renos One Day Trading Volume Tops $3,382.00
Piper Jaffray Reiterates “Buy” Rating for Royal Dutch Shell
Piper Jaffray Reiterates “Buy” Rating for Royal Dutch Shell


© 2006-2018 Ticker Report. Google+.