B. Riley Comments on TrueCar’s Q3 Earnings (NASDAQ:TRUE)

TrueCar, Inc. (NASDAQ:TRUE) – Investment analysts at B. Riley decreased their Q3 2024 earnings estimates for TrueCar in a research note issued to investors on Tuesday, October 29th. B. Riley analyst N. Khan now forecasts that the technology company will earn ($0.06) per share for the quarter, down from their previous forecast of ($0.05). The consensus estimate for TrueCar’s current full-year earnings is ($0.29) per share. B. Riley also issued estimates for TrueCar’s Q4 2024 earnings at ($0.04) EPS, FY2024 earnings at ($0.32) EPS, Q1 2025 earnings at ($0.07) EPS, Q2 2025 earnings at ($0.06) EPS, Q4 2025 earnings at ($0.02) EPS, FY2025 earnings at ($0.19) EPS, FY2026 earnings at ($0.13) EPS and FY2027 earnings at ($0.09) EPS.

TRUE has been the topic of several other reports. Needham & Company LLC lowered their price objective on shares of TrueCar from $4.00 to $3.75 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. BTIG Research increased their target price on shares of TrueCar from $3.75 to $4.50 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Finally, Lake Street Capital began coverage on TrueCar in a research report on Monday, October 7th. They issued a “buy” rating and a $6.00 price target on the stock.

TrueCar Trading Down 2.0 %

Shares of TRUE opened at $3.91 on Thursday. The company’s 50 day simple moving average is $3.35 and its 200-day simple moving average is $3.14. The firm has a market cap of $358.05 million, a PE ratio of -9.78 and a beta of 1.85. TrueCar has a 12-month low of $1.77 and a 12-month high of $4.22.

TrueCar (NASDAQ:TRUE) last posted its earnings results on Monday, August 5th. The technology company reported ($0.09) earnings per share for the quarter, missing the consensus estimate of ($0.07) by ($0.02). The firm had revenue of $41.80 million during the quarter, compared to analysts’ expectations of $43.38 million. TrueCar had a negative net margin of 17.63% and a negative return on equity of 14.10%.

Insiders Place Their Bets

In related news, EVP Jeff Swart sold 20,000 shares of the firm’s stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $2.82, for a total value of $56,400.00. Following the completion of the sale, the executive vice president now owns 390,600 shares in the company, valued at $1,101,492. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 3.30% of the stock is owned by insiders.

Institutional Investors Weigh In On TrueCar

A number of hedge funds and other institutional investors have recently bought and sold shares of TRUE. Lazard Asset Management LLC purchased a new stake in shares of TrueCar during the 1st quarter worth approximately $43,000. SG Americas Securities LLC increased its stake in TrueCar by 126.5% in the 3rd quarter. SG Americas Securities LLC now owns 34,644 shares of the technology company’s stock valued at $120,000 after purchasing an additional 19,349 shares in the last quarter. Hillsdale Investment Management Inc. purchased a new stake in TrueCar during the first quarter worth $152,000. Assenagon Asset Management S.A. acquired a new stake in TrueCar in the second quarter valued at $210,000. Finally, BNP Paribas Financial Markets increased its position in shares of TrueCar by 35.4% in the first quarter. BNP Paribas Financial Markets now owns 70,820 shares of the technology company’s stock valued at $240,000 after buying an additional 18,501 shares in the last quarter. Institutional investors and hedge funds own 79.44% of the company’s stock.

TrueCar Company Profile

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.