TrueCar (NASDAQ:TRUE) Releases Quarterly Earnings Results, Misses Estimates By $0.01 EPS

TrueCar (NASDAQ:TRUE) posted its quarterly earnings results on Tuesday. The technology company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01), Zacks reports. The business had revenue of $46.21 million for the quarter, compared to the consensus estimate of $47.30 million. TrueCar had a negative return on equity of 17.54% and a negative net margin of 17.68%.

TrueCar Trading Down 14.4 %

NASDAQ:TRUE opened at $2.79 on Thursday. The business’s 50-day simple moving average is $3.61 and its 200-day simple moving average is $3.56. TrueCar has a fifty-two week low of $2.50 and a fifty-two week high of $4.62.

Wall Street Analyst Weigh In

TRUE has been the subject of a number of analyst reports. B. Riley lifted their price objective on TrueCar from $3.30 to $4.00 and gave the stock a “neutral” rating in a research note on Monday, November 11th. Needham & Company LLC lowered their price target on TrueCar from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, StockNews.com raised shares of TrueCar from a “hold” rating to a “buy” rating in a research note on Tuesday, December 3rd. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, TrueCar currently has a consensus rating of “Moderate Buy” and an average price target of $4.63.

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.