Tuanche (NYSE:TC) Receives Buy Rating from Maxim Group

Maxim Group reissued their buy rating on shares of Tuanche (NYSE:TC) in a report published on Thursday, AnalystRatings.com reports. Maxim Group currently has a $13.00 price target on the stock.

“We project 2Q19 revenue of $34.3M, +30% y/y, gross margin of 72%, and non- GAAP EPS of $0.01. We are the only analyst covering the stock. Growth should come from expanded auctions and marketing to support auto sales in China. We project annual revenue growth of ~30% for each of the next three years with non-GAAP EPS and EBITDA expanding to $0.31 and ~$24M by 2021. We maintain our Buy rating and $13 price target, which is supported by our DCF analysis and equates to an EV/revenue multiple of ~5x our 2020 revenue estimate.”,” Maxim Group’s analyst wrote.

TC stock traded down $0.50 during trading on Thursday, hitting $3.96. 2,500 shares of the company traded hands, compared to its average volume of 68,314. The stock’s 50-day moving average is $4.03. Tuanche has a 1 year low of $2.05 and a 1 year high of $7.93.

Tuanche (NYSE:TC) last issued its quarterly earnings data on Friday, May 17th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of ($0.02) by ($0.02). The business had revenue of $18.31 million during the quarter.

Tuanche Company Profile

TuanChe Limited operates as an omni-channel automotive marketplace in China. It organizes auto shows and group events that attract various consumers, as well as provides integrated marketing solutions to its industry customers, which include automakers, franchised dealerships, secondary dealers, and automotive service providers and enable interactions between participants on both sides of a potential transaction, creating a many-to-many environment.

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