TrueCar, Inc. (NASDAQ:TRUE) – Investment analysts at DA Davidson issued their Q1 2020 earnings estimates for shares of TrueCar in a report released on Wednesday, May 9th, according to Zacks Investment Research. DA Davidson analyst T. White expects that the technology company will earn ($0.06) per share for the quarter. DA Davidson has a “Neutral” rating and a $9.75 price objective on the stock.
Other equities research analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of TrueCar from a “hold” rating to a “sell” rating in a research note on Saturday, May 12th. Benchmark reiterated a “buy” rating and set a $18.00 price objective on shares of TrueCar in a research note on Thursday, May 3rd. JPMorgan Chase downgraded shares of TrueCar from a “neutral” rating to an “underweight” rating in a research note on Thursday, March 22nd. Stephens set a $18.00 price objective on shares of TrueCar and gave the stock a “buy” rating in a research note on Friday, February 16th. Finally, 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. Three analysts have rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $15.84.
TrueCar (NASDAQ:TRUE) last announced its quarterly earnings data on Thursday, February 15th. The technology company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.08) by $0.04. The firm had revenue of $83.13 million for the quarter, compared to the consensus estimate of $81.15 million. TrueCar had a negative net margin of 10.69% and a negative return on equity of 8.62%.
Several hedge funds have recently bought and sold shares of the company. Millennium Management LLC lifted its holdings in shares of TrueCar by 51.0% in the first quarter. Millennium Management LLC now owns 1,495,661 shares of the technology company’s stock worth $14,149,000 after acquiring an additional 505,158 shares during the last quarter. Verition Fund Management LLC bought a new position in shares of TrueCar in the first quarter worth about $100,000. Sciencast Management LP bought a new position in shares of TrueCar in the first quarter worth about $273,000. Cubist Systematic Strategies LLC lifted its holdings in shares of TrueCar by 119.2% in the first quarter. Cubist Systematic Strategies LLC now owns 53,745 shares of the technology company’s stock worth $508,000 after acquiring an additional 29,226 shares during the last quarter. Finally, Jane Street Group LLC bought a new position in shares of TrueCar in the first quarter worth about $170,000. 85.63% of the stock is owned by hedge funds and other institutional investors.
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.
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