TrueCar’s (TRUE) Sector Perform Rating Reiterated at RBC Capital Markets
RBC Capital Markets restated their sector perform rating on shares of TrueCar Inc. (NASDAQ:TRUE) in a report released on Monday morning. They currently have a $12.00 price objective on the stock, up from their prior price objective of $10.00.
A number of other brokerages have also commented on TRUE. Loop Capital assumed coverage on shares of TrueCar in a research report on Wednesday, August 10th. They set a hold rating and a $11.00 price objective for the company. B. Riley reaffirmed a sell rating and set a $5.00 price objective on shares of TrueCar in a research report on Wednesday, August 10th. Craig Hallum reaffirmed a hold rating on shares of TrueCar in a research report on Friday, August 5th. JMP Securities reaffirmed a hold rating on shares of TrueCar in a research report on Sunday. Finally, JPMorgan Chase & Co. reaffirmed a hold rating and set a $6.00 price objective on shares of TrueCar in a research report on Friday, August 5th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company. The stock has an average rating of Buy and an average price target of $9.37.
TrueCar (NASDAQ:TRUE) opened at 11.06 on Monday. The stock’s 50 day moving average price is $9.61 and its 200 day moving average price is $8.60. The firm’s market capitalization is $935.74 million. TrueCar has a 12 month low of $4.42 and a 12 month high of $11.24.
TrueCar (NASDAQ:TRUE) last announced its quarterly earnings data on Thursday, November 3rd. The company reported ($0.01) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.06) by $0.05. The business earned $75.01 million during the quarter, compared to analyst estimates of $71.17 million. TrueCar had a negative net margin of 22.92% and a negative return on equity of 22.19%. The firm’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.03) earnings per share. On average, analysts forecast that TrueCar will post ($0.18) earnings per share for the current year.
Several hedge funds have recently added to or reduced their stakes in TRUE. Quantitative Investment Management LLC bought a new stake in TrueCar during the second quarter valued at approximately $134,000. State Board of Administration of Florida Retirement System boosted its stake in TrueCar by 4.5% in the second quarter. State Board of Administration of Florida Retirement System now owns 20,538 shares of the company’s stock valued at $161,000 after buying an additional 881 shares during the period. BlackRock Group LTD boosted its stake in TrueCar by 4.4% in the third quarter. BlackRock Group LTD now owns 18,933 shares of the company’s stock valued at $178,000 after buying an additional 792 shares during the period. BlackRock Advisors LLC boosted its stake in TrueCar by 2.4% in the second quarter. BlackRock Advisors LLC now owns 25,525 shares of the company’s stock valued at $200,000 after buying an additional 587 shares during the period. Finally, American International Group Inc. boosted its stake in TrueCar by 9.2% in the second quarter. American International Group Inc. now owns 31,287 shares of the company’s stock valued at $246,000 after buying an additional 2,626 shares during the period. 58.65% of the stock is currently owned by institutional investors and hedge funds.
TrueCar, Inc offers a diverse software ecosystem for buying cars. The Company’s software ecosystem is based on a common technology infrastructure, and powered by data and analytics. The Company operates its platform on the TrueCar Website and its branded mobile experience. It customizes and operates its platform on a co-branded basis for its affinity group marketing partners, including financial institutions, membership-based organizations, and employee buying programs for enterprises.
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