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

TrueCar, Inc. (NASDAQ:TRUE) – Equities researchers at B. Riley cut their Q3 2024 earnings per share estimates for shares of TrueCar in a report released 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 prior estimate 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.

A number of other equities research analysts also recently commented on the company. Needham & Company LLC decreased their target price on 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 upped their price objective on TrueCar from $3.75 to $4.50 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Finally, Lake Street Capital initiated coverage on TrueCar in a research report on Monday, October 7th. They set a “buy” rating and a $6.00 price objective on the stock.

TrueCar Trading Up 3.6 %

NASDAQ:TRUE opened at $3.99 on Thursday. The company has a market capitalization of $365.38 million, a P/E ratio of -9.98 and a beta of 1.85. TrueCar has a 12 month low of $1.77 and a 12 month high of $4.22. The business’s 50-day moving average is $3.33 and its 200 day moving average is $3.13.

TrueCar (NASDAQ:TRUE) last released its quarterly earnings data on Monday, August 5th. The technology company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.02). The company had revenue of $41.80 million for the quarter, compared to the consensus estimate of $43.38 million. TrueCar had a negative net margin of 17.63% and a negative return on equity of 14.10%.

Insider Activity

In other news, EVP Jeff Swart sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $2.82, for a total transaction of $56,400.00. Following the transaction, the executive vice president now owns 390,600 shares of the company’s stock, valued at approximately $1,101,492. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 3.30% of the company’s stock.

Institutional Inflows and Outflows

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

About TrueCar

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.