B. Riley Predicts TrueCar’s FY2029 Earnings (NASDAQ:TRUE)

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

A number of other brokerages have also weighed in on TRUE. BTIG Research increased their price objective on TrueCar from $3.75 to $4.50 and gave the company a “buy” rating in a report on Tuesday, October 22nd. StockNews.com upgraded shares of TrueCar from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. Finally, Needham & Company LLC restated a “buy” rating and set a $5.00 price objective on shares of TrueCar in a research note on Wednesday, January 15th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, TrueCar presently has a consensus rating of “Moderate Buy” and a consensus target price of $4.88.

TrueCar Price Performance

Shares of TRUE stock opened at $3.38 on Wednesday. The business has a fifty day moving average of $3.68 and a 200 day moving average of $3.56. TrueCar has a 1 year low of $2.56 and a 1 year high of $4.62. The firm has a market capitalization of $293.92 million, a price-to-earnings ratio of -11.65 and a beta of 1.75.

Institutional Trading of TrueCar

A number of hedge funds have recently modified their holdings of the stock. SkyView Investment Advisors LLC lifted its holdings in TrueCar by 1.8% in the third quarter. SkyView Investment Advisors LLC now owns 203,695 shares of the technology company’s stock valued at $703,000 after acquiring an additional 3,510 shares during the period. BNP Paribas Financial Markets increased its holdings in shares of TrueCar by 15.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 60,942 shares of the technology company’s stock valued at $210,000 after purchasing an additional 8,027 shares in the last quarter. Intech Investment Management LLC acquired a new position in shares of TrueCar in the 3rd quarter valued at $36,000. Wells Fargo & Company MN boosted its holdings in TrueCar by 27.8% during the fourth quarter. Wells Fargo & Company MN now owns 50,275 shares of the technology company’s stock worth $188,000 after buying an additional 10,950 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in TrueCar during the third quarter worth $43,000. Hedge funds and other 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.