What is B. Riley’s Forecast for TrueCar FY2024 Earnings?

TrueCar, Inc. (NASDAQ:TRUE) – Equities researchers at B. Riley lifted their FY2024 EPS estimates for TrueCar in a research note issued to investors on Tuesday, February 11th. B. Riley analyst N. Khan now forecasts that the technology company will post earnings per share of ($0.32) for the year, up from their previous estimate of ($0.33). 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. B. Riley also issued estimates for TrueCar’s Q1 2025 earnings at ($0.04) EPS, FY2025 earnings at ($0.15) EPS, FY2026 earnings at ($0.08) EPS, FY2027 earnings at ($0.02) EPS and FY2028 earnings at $0.04 EPS.

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

TrueCar Stock Up 0.3 %

TRUE opened at $3.38 on Thursday. TrueCar has a twelve month low of $2.56 and a twelve month high of $4.62. The company has a 50-day simple moving average of $3.70 and a 200 day simple moving average of $3.56.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Raymond James Financial Inc. acquired a new stake in TrueCar during the 4th quarter worth approximately $930,000. Arrowstreet Capital Limited Partnership raised its stake in shares of TrueCar by 75.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 521,467 shares of the technology company’s stock valued at $1,945,000 after acquiring an additional 224,969 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of TrueCar by 113.0% during the fourth quarter. JPMorgan Chase & Co. now owns 321,378 shares of the technology company’s stock worth $1,199,000 after purchasing an additional 170,475 shares during the period. Assenagon Asset Management S.A. grew its stake in shares of TrueCar by 151.1% in the third quarter. Assenagon Asset Management S.A. now owns 168,600 shares of the technology company’s stock worth $582,000 after purchasing an additional 101,459 shares during the last quarter. Finally, Barclays PLC increased its holdings in TrueCar by 169.2% in the third quarter. Barclays PLC now owns 130,062 shares of the technology company’s stock valued at $448,000 after purchasing an additional 81,745 shares during the period. 79.44% of the stock is currently owned by 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.