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

TrueCar, Inc. (NASDAQ:TRUE) – Research analysts at B. Riley upped their FY2024 earnings estimates for shares of TrueCar in a research report issued on Tuesday, February 11th. B. Riley analyst N. Khan now anticipates that the technology company will post earnings of ($0.32) per share for the year, up from their prior 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 brokerages also recently weighed in on TRUE. Needham & Company LLC reiterated a “buy” rating and set a $5.00 price target on shares of TrueCar in a report on Wednesday, January 15th. BTIG Research raised their target price on TrueCar from $3.75 to $4.50 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Finally, StockNews.com upgraded TrueCar from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $4.88.

TrueCar Price Performance

Shares of NASDAQ 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 firm has a fifty day simple moving average of $3.70 and a 200 day simple moving average of $3.56.

Hedge Funds Weigh In On TrueCar

Several institutional investors have recently made changes to their positions in the stock. Intech Investment Management LLC bought a new stake in TrueCar in the 3rd quarter valued at about $36,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of TrueCar during the third quarter valued at approximately $43,000. R Squared Ltd bought a new stake in shares of TrueCar during the fourth quarter valued at approximately $49,000. SG Americas Securities LLC raised its position in shares of TrueCar by 126.5% during the third quarter. SG Americas Securities LLC now owns 34,644 shares of the technology company’s stock worth $120,000 after purchasing an additional 19,349 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in shares of TrueCar by 27.8% in the 4th quarter. Wells Fargo & Company MN now owns 50,275 shares of the technology company’s stock worth $188,000 after purchasing an additional 10,950 shares in the last quarter. Institutional investors and hedge funds 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.