FY2029 Earnings Estimate for TrueCar Issued By B. Riley

TrueCar, Inc. (NASDAQ:TRUE - Free Report) recently received an earnings estimate for FY2029 from analysts at B. Riley. This analysis, released on February 11th, indicates that analyst N. Khan expects TrueCar to achieve earnings of $0.09 per share in that year. Currently, B. Riley has assigned a "Neutral" rating to TrueCar's stock, with a price target of $4.00.

The consensus among analysts for TrueCar's earnings for the current fiscal year is at a loss of ($0.30) per share. Other analysts have been active in providing their evaluations of TrueCar as well. For instance, BTIG Research raised their target price from $3.75 to $4.50 and provided a "buy" recommendation on October 22nd. Meanwhile, Needham & Company LLC reaffirmed their "buy" rating and set a target price of $5.00 on January 15th. Additionally, StockNews.com upgraded TrueCar from a "hold" rating to a "buy" rating as of December 3rd. At present, one investment analyst has rated the stock as a hold, while four others have issued buy ratings. According to MarketBeat.com, TrueCar currently has an average rating of "Moderate Buy" and a consensus price target of $4.88.

TrueCar Stock Performance

As of Wednesday, TrueCar's stock opened at $3.37. The company has a 50-day moving average of $3.70 and a 200-day moving average of $3.56. Over the past year, TrueCar's stock has reached a low of $2.56 and a high of $4.62. The company has a market capitalization of $293.06 million, a price-to-earnings ratio of -11.62, and a beta value of 1.75, indicating volatility in its stock price.

Institutional Trading of TrueCar

TrueCar's stock has also seen significant activity from institutional investors. In the fourth quarter, Raymond James Financial Inc. acquired a new position in TrueCar valued at $930,000. JPMorgan Chase & Co. increased its holdings in TrueCar by 113.0% during the same quarter, now owning 321,378 shares worth approximately $1.2 million after acquiring 170,475 additional shares. Similarly, Assenagon Asset Management S.A. raised its stake by 151.1% in the third quarter, holding 168,600 shares valued at $582,000. Barclays PLC also increased its stake by 169.2% during the third quarter and now possesses 130,062 shares valued at $448,000. Furthermore, FMR LLC lifted its stake in TrueCar by 23.7%, owning a total of 380,636 shares valued at about $1.31 million. Currently, about 79.44% of TrueCar’s stock is held by institutional investors and hedge funds.

About TrueCar

TrueCar, Inc. operates primarily as an internet-based technology and communication service provider in the United States. Its platform, available through the TrueCar website and mobile apps, enables users to access market pricing data for new and used vehicles, as well as connect with a network of certified TrueCar dealers.

TrueCar, Earnings, Analysis