Analysts Set TrueCar Inc. (TRUE) Target Price at $9.71
TrueCar Inc. (NASDAQ:TRUE) has been assigned an average rating of “Buy” from the thirteen brokerages that are covering the firm. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, four have given a buy rating and two have issued a strong buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $9.71.
Several brokerages have recently commented on TRUE. B. Riley reiterated a “buy” rating and set a $14.00 price objective on shares of TrueCar in a report on Saturday, October 29th. JMP Securities reiterated a “hold” rating on shares of TrueCar in a report on Sunday, November 6th. Craig Hallum reiterated a “hold” rating on shares of TrueCar in a report on Friday, August 5th. RBC Capital Markets reiterated a “sector perform” rating and set a $10.00 price objective (up previously from $6.00) on shares of TrueCar in a report on Monday, August 8th. Finally, Zacks Investment Research upgraded TrueCar from a “hold” rating to a “buy” rating and set a $10.00 price objective for the company in a report on Wednesday, August 3rd.
In other TrueCar news, EVP Neeraj Gunsagar sold 5,000 shares of the stock in a transaction dated Thursday, November 17th. The stock was sold at an average price of $12.77, for a total transaction of $63,850.00. Following the sale, the executive vice president now directly owns 352,156 shares of the company’s stock, valued at approximately $4,497,032.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Brian Skutta sold 4,081 shares of the stock in a transaction dated Tuesday, November 22nd. The stock was sold at an average price of $12.81, for a total value of $52,277.61. Following the sale, the executive vice president now directly owns 98,438 shares in the company, valued at $1,260,990.78. The disclosure for this sale can be found here. Company insiders own 17.30% of the company’s stock.
A number of large investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD acquired a new stake in TrueCar during the third quarter worth approximately $732,000. Credit Suisse AG boosted its stake in TrueCar by 82.9% in the third quarter. Credit Suisse AG now owns 52,709 shares of the company’s stock worth $497,000 after buying an additional 23,885 shares during the period. Gerstein Fisher acquired a new stake in TrueCar during the third quarter worth approximately $255,000. D. E. Shaw & Co. Inc. boosted its stake in TrueCar by 13.3% in the third quarter. D. E. Shaw & Co. Inc. now owns 29,013 shares of the company’s stock worth $274,000 after buying an additional 3,416 shares during the period. Finally, The Manufacturers Life Insurance Company acquired a new stake in TrueCar during the third quarter worth approximately $365,000. 60.39% of the stock is currently owned by institutional investors.
Shares of TrueCar (NASDAQ:TRUE) opened at 12.62 on Tuesday. The company’s market cap is $1.08 billion. The stock’s 50 day moving average is $10.48 and its 200-day moving average is $9.03. TrueCar has a 12 month low of $4.42 and a 12 month high of $13.07.
TrueCar (NASDAQ:TRUE) last posted its earnings results on Thursday, November 3rd. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.06) by $0.05. The company earned $75.01 million during the quarter, compared to analyst estimates of $71.17 million. TrueCar had a negative return on equity of 22.29% and a negative net margin of 22.92%. TrueCar’s revenue 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, equities analysts forecast that TrueCar will post ($0.17) EPS for the current year.
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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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