Q2 2024 EPS Estimates for TrueCar, Inc. Lowered by B. Riley (NASDAQ:TRUE)

TrueCar, Inc. (NASDAQ:TRUE - Free Report) - Analysts at B. Riley reduced their Q2 2024 EPS estimates for TrueCar in a note issued to investors on Tuesday, April 30th. B. Riley analyst N. Khan now anticipates that the technology company will post earnings of ($0.06) per share for the quarter, down from their previous estimate of ($0.03). The consensus estimate for TrueCar's current full-year earnings is ($0.19) per share. B. Riley also issued estimates for TrueCar's Q3 2024 earnings at ($0.04) EPS, Q4 2024 earnings at ($0.03) EPS, FY2024 earnings at ($0.22) EPS, FY2025 earnings at ($0.12) EPS, FY2026 earnings at ($0.05) EPS and FY2027 earnings at $0.00 EPS.

TrueCar (NASDAQ:TRUE - Get Free Report) last released its quarterly earnings data on Tuesday, February 20th. The technology company reported ($0.02) earnings per share for the quarter, beating analysts' consensus estimates of ($0.07) by $0.05. The company had revenue of $41.29 million during the quarter, compared to analysts' expectations of $41.50 million. TrueCar had a negative net margin of 22.15% and a negative return on equity of 17.12%.

Separately, Needham & Company LLC decreased their price target on shares of TrueCar from $4.50 to $4.00 and set a "buy" rating on the stock in a research note on Tuesday.

TrueCar Stock Down 1.0 %

Shares of TrueCar stock traded down $0.03 on Friday, reaching $2.85. The company's stock had a trading volume of 76,347 shares, compared to its average volume of 206,462. TrueCar has a 52-week low of $1.76 and a 52-week high of $4.05. The company has a market capitalization of $260.99 million, a P/E ratio of -7.13 and a beta of 1.71. The stock has a 50-day moving average price of $3.23 and a 200-day moving average price of $3.08.

Insider Activity

In other TrueCar news, EVP Jeff Swart sold 15,000 shares of the company's stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $3.45, for a total value of $51,750.00. Following the transaction, the executive vice president now owns 325,044 shares of the company's stock, valued at $1,121,401.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 3.30% of the company's stock.

Hedge Funds Weigh In On TrueCar

A number of hedge funds and other institutional investors have recently bought and sold shares of TRUE. BNP Paribas Financial Markets boosted its position in TrueCar by 35.4% in the 1st 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 period. Fairman Group LLC purchased a new position in TrueCar in the fourth quarter valued at $73,000. Mill Road Capital Management LLC grew its stake in TrueCar by 5.3% during the 4th quarter. Mill Road Capital Management LLC now owns 1,723,800 shares of the technology company's stock worth $5,964,000 after purchasing an additional 86,100 shares in the last quarter. Acuitas Investments LLC increased its holdings in TrueCar by 28.3% during the 4th quarter. Acuitas Investments LLC now owns 1,264,272 shares of the technology company's stock worth $4,374,000 after purchasing an additional 279,106 shares during the period. Finally, New York State Common Retirement Fund raised its position in TrueCar by 269.8% in the 4th quarter. New York State Common Retirement Fund now owns 27,762 shares of the technology company's stock valued at $96,000 after purchasing an additional 20,254 shares in the last quarter. 79.44% of the stock is currently owned by hedge funds and other institutional investors.

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.