Research that Identifies
Undiscovered Value in the MicroCap Market



HYRECAR, INC.

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Market Data: Yahoo Finance, Bloomberg, SEC Filings

Report Link: Updated Research Report (Dated 05/20/2019)

Symbol: HYRE
Analyst: Howard Halpern
Taglich Rating: Speculative Buy
Price Target: $9.00
Time Horizon: 12 Months
Rating Established: October 23, 2018
Price When Established: $2.34
Most Recent Report: May 20, 2019
Price When Issued: $4.83


What's New

HyreCar, Inc. Reports 2Q19 Results

On August 14, 2019, HyreCar, Inc. reported 2Q19 results for the three-months ended June 30, 2019.

HyreCar reported revenues increased 67.9% to $3.8 million from $2.3 million in the year ago period. Revenue growth was supported by a 52.7% increase in rental days to approximately 140,000. The company reported a net loss of $2 million or ($0.17) per share compared to a net loss of $5 million or ($0.92) per share. The year-ago period including one-time costs related to the company’s IPO.

We forecasted 2Q19 revenue of $3.975 million and net a net loss of $1.7 million or ($0.14) per share.


HyerCar Provides Preliminary 2Q19 Revenue and EBITDA Guidance

On July 22, 2019, HyerCar, Inc. provided preliminary 2Q19 Revenue and EBITDA Guidance.

HyerCar expects to report total revenue in the range of $3.7 million to $3.9 million and an adjusted EBITDA loss in the range of $1.1 million to $1.5 million in 2Q19.

We forecast 2Q19 revenue of $3.975 million and adjusted EBITDA of $1.4 million.


Company Description

HyreCar Inc., headquartered in Los Angeles, California operates a carsharing marketplace platform for ridesharing through its proprietary technology. The HyreCar marketplace platform, which operates in 34 states and Washington, D.C. is a technology platform designed to support a peer-to-peer carsharing marketplace allowing car owners to rent their idle vehicles to ridesharing service drivers.


Company Reports

Updated Research Report (Dated May 20, 2019)
Updated Research Report (Dated April 3, 2019)
Updated Research Note (Dated February 19, 2019)
Updated Research Report (Dated November 20, 2018)
Initial Report Released (Dated October 23, 2018)

Disclaimer

Please view our current disclosure and disclaimer on our most recent research report.