TrueCar Inc. (TRUE) Stock Rating Reaffirmed by JPMorgan Chase & Co.
TrueCar Inc. (NASDAQ:TRUE)‘s stock had its “hold” rating reaffirmed by equities research analysts at JPMorgan Chase & Co. in a research report issued to clients and investors on Friday.
Other research analysts have also issued reports about the stock. B. Riley reissued a “sell” rating and issued a $3.50 target price on shares of TrueCar in a research note on Monday, July 18th. JMP Securities reissued a “hold” rating on shares of TrueCar in a research note on Sunday, November 6th. Craig Hallum reissued a “hold” rating on shares of TrueCar in a research note on Friday, August 5th. Finally, RBC Capital Markets reissued a “sector perform” rating and issued a $10.00 target price (up from $6.00) on shares of TrueCar in a research note on Monday, August 8th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, four have given a buy rating and two have assigned a strong buy rating to the stock. TrueCar currently has an average rating of “Buy” and a consensus price target of $9.37.
TrueCar (NASDAQ:TRUE) opened at 11.76 on Friday. TrueCar has a 52 week low of $4.42 and a 52 week high of $11.97. The company has a 50-day moving average price of $9.76 and a 200 day moving average price of $8.66. The company’s market cap is $994.97 million.
TrueCar (NASDAQ:TRUE) last released its earnings results on Thursday, November 3rd. The company reported ($0.01) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.06) by $0.05. TrueCar had a negative net margin of 22.92% and a negative return on equity of 22.29%. The business had revenue of $75.01 million for the quarter, compared to analyst estimates of $71.17 million. During the same period last year, the company posted ($0.03) EPS. The business’s revenue was up 3.7% on a year-over-year basis. On average, equities research analysts forecast that TrueCar will post ($0.17) EPS for the current fiscal year.
A number of hedge funds have recently bought and sold shares of the stock. Caledonia Private Investments Pty Ltd acquired a new position in TrueCar during the second quarter valued at approximately $14,193,000. Senvest Management LLC increased its position in TrueCar by 95.4% in the third quarter. Senvest Management LLC now owns 2,938,634 shares of the company’s stock valued at $27,741,000 after buying an additional 1,435,053 shares during the period. SG Capital Management LLC acquired a new position in TrueCar during the third quarter valued at approximately $7,621,000. Morgan Stanley increased its position in TrueCar by 6.3% in the third quarter. Morgan Stanley now owns 7,029,769 shares of the company’s stock valued at $66,360,000 after buying an additional 419,322 shares during the period. Finally, BlackRock Institutional Trust Company N.A. increased its position in TrueCar by 11.2% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 1,475,689 shares of the company’s stock valued at $13,931,000 after buying an additional 148,235 shares during the period. Hedge funds and other institutional investors own 58.08% of the company’s stock.
TrueCar Company Profile
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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