FY2029 Earnings Estimate for TrueCar Issued By B. Riley

TrueCar, Inc. (NASDAQ:TRUE) – Equities researchers at B. Riley issued their FY2029 EPS estimates for TrueCar in a research report issued on Tuesday, February 11th. B. Riley analyst N. Khan forecasts that the technology company will post earnings of $0.09 per share for the year. B. Riley has a “Neutral” rating and a $4.00 price target on the stock. The consensus estimate for TrueCar’s current full-year earnings is ($0.30) per share.

Other analysts have also recently issued reports about the company. BTIG Research upped their target price on TrueCar from $3.75 to $4.50 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Needham & Company LLC reissued a “buy” rating and issued a $5.00 price objective on shares of TrueCar in a report on Wednesday, January 15th. Finally, StockNews.com raised shares of TrueCar from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $4.88.

TrueCar Stock Performance

Shares of TRUE stock opened at $3.37 on Wednesday. The stock’s 50-day moving average is $3.70 and its two-hundred day moving average is $3.56. TrueCar has a 1 year low of $2.56 and a 1 year high of $4.62. The firm has a market cap of $293.06 million, a price-to-earnings ratio of -11.62 and a beta of 1.75.

Institutional Trading of TrueCar

A number of hedge funds have recently added to or reduced their stakes in TRUE. Raymond James Financial Inc. acquired a new position in TrueCar in the 4th quarter valued at $930,000. JPMorgan Chase & Co. boosted its holdings in shares of TrueCar by 113.0% in the fourth quarter. JPMorgan Chase & Co. now owns 321,378 shares of the technology company’s stock valued at $1,199,000 after acquiring an additional 170,475 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of TrueCar by 151.1% during the third quarter. Assenagon Asset Management S.A. now owns 168,600 shares of the technology company’s stock worth $582,000 after acquiring an additional 101,459 shares during the period. Barclays PLC increased its stake in shares of TrueCar by 169.2% during the third quarter. Barclays PLC now owns 130,062 shares of the technology company’s stock worth $448,000 after acquiring an additional 81,745 shares during the period. Finally, FMR LLC lifted its position in TrueCar by 23.7% in the third quarter. FMR LLC now owns 380,636 shares of the technology company’s stock valued at $1,313,000 after purchasing an additional 73,041 shares during the period. 79.44% of the stock is owned by institutional investors and hedge funds.

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.