RBC Capital Raises Price Target on TrueCar (TRUE) to $10 Following 2Q Beat and Guidance
- Apple (AAPL) Tops Q4 EPS by 2c; Issues Solid Outlook
- Wall Street slips on earnings; Apple falls late after results
- Chipotle Mexican Grill (CMG) Posts Q3 EPS of $0.27; Comps Miss Views; Additional Stock Buyback Approved
- Pandora (P) Misses Q3 EPS by 1c, Q4 Revenue Guidance Falls Short
- After-Hours Movers 10/25: (OGXI) (AKAM) (VRTX) Higher; (EW) (NUVA) (CMG) (AAPL) Lower (more...)
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
RBC Capital reiterated a Sector Perform rating on TrueCar (NASDAQ: TRUE), and raised the price target to $10.00 (from $6.00), following the company's 2Q earnings report. Revenue was $66.4MM and above Street estimates of 65.5MM and slightly above guidance of $64-66MM. Q3 Revenue/EBITDA guidance is $70-72MM / $1-$1.5MM vs. Street ests of $75.4MM/$600K.
Analyst Mark Mahaney commented, "Q2 results were better than expected, but Q3 topline guidance was below the Street. In terms of the FY16, management lowered Rev guidance but raised EBITDA. Material changes are necessary and appear underway, with Autonation returning to the platform. We raise our ’17 EBITDA estimates and PT to $10 but maintain Sector Perform."
Shares of TrueCar closed at $9.93 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Needham & Company Raises Price Target on II-VI, Inc. (IIVI) Following 1Q Beat
- Needham & Company Retains Buy Rating on Nielsen (NLSN) Amid Disappointing Results and Sell-Off
- UPDATE: CommVault Systems (CVLT) PT to $62 at Mizuho Following Strong Q2
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Analyst EPS View, Analyst PT Change
Related EntitiesRBC Capital, Earnings, Mark Mahaney
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!