Equities researchers at BTIG Research started coverage on shares of TrueCar (NASDAQ:TRUE) in a note issued to investors on Tuesday. The firm set a “buy” rating and a $13.00 price target on the technology company’s stock. BTIG Research’s target price would suggest a potential upside of 26.46% from the stock’s current price.

A number of other equities research analysts have also commented on the company. Benchmark decreased their price target on TrueCar from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Wednesday, November 7th. B. Riley decreased their price target on TrueCar from $18.00 to $16.50 and set a “buy” rating on the stock in a research report on Wednesday, November 7th. Zacks Investment Research lowered TrueCar from a “buy” rating to a “hold” rating in a research report on Tuesday, October 16th. ValuEngine upgraded TrueCar from a “sell” rating to a “hold” rating in a research report on Thursday, September 13th. Finally, DA Davidson set a $13.00 price target on TrueCar and gave the stock a “hold” rating in a research report on Monday, August 13th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $14.36.

NASDAQ TRUE traded up $0.21 during trading hours on Tuesday, reaching $10.28. 634,208 shares of the company’s stock were exchanged, compared to its average volume of 1,323,564. The firm has a market cap of $1.03 billion, a PE ratio of -38.07 and a beta of 2.62. TrueCar has a one year low of $8.75 and a one year high of $14.55. The company has a debt-to-equity ratio of 0.07, a current ratio of 5.66 and a quick ratio of 5.66.

TrueCar (NASDAQ:TRUE) last released its quarterly earnings results on Tuesday, November 6th. The technology company reported $0.04 EPS for the quarter, missing the Zacks’ consensus estimate of $0.05 by ($0.01). The business had revenue of $93.59 million for the quarter, compared to the consensus estimate of $93.89 million. TrueCar had a negative return on equity of 7.56% and a negative net margin of 8.80%. The firm’s revenue was up 13.5% on a year-over-year basis. During the same quarter last year, the company earned $0.02 earnings per share. As a group, equities analysts expect that TrueCar will post -0.24 earnings per share for the current year.

In other TrueCar news, EVP Robert Mcclung sold 7,669 shares of the stock in a transaction on Tuesday, September 18th. The stock was sold at an average price of $13.51, for a total value of $103,608.19. Following the transaction, the executive vice president now directly owns 128,791 shares in the company, valued at approximately $1,739,966.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders sold a total of 9,167 shares of company stock worth $121,994 over the last quarter. Corporate insiders own 5.60% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in TRUE. DekaBank Deutsche Girozentrale boosted its position in TrueCar by 295.6% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 7,911 shares of the technology company’s stock valued at $101,000 after buying an additional 5,911 shares during the last quarter. Amalgamated Bank bought a new position in TrueCar in the 2nd quarter valued at $141,000. Jane Street Group LLC bought a new position in TrueCar in the 1st quarter valued at $170,000. PEAK6 Investments L.P. bought a new position in TrueCar in the 2nd quarter valued at $175,000. Finally, Oppenheimer Asset Management Inc. bought a new position in TrueCar in the 3rd quarter valued at $221,000. Hedge funds and other institutional investors own 95.54% of the company’s stock.

TrueCar Company Profile

TrueCar, Inc, together with its subsidiaries, operates as an Internet-based information, technology, and communication services company in the United States. It operates its platform on the TrueCar Website and mobile applications. The company also customizes and operates its platform for its affinity group marketing partners, including financial institutions, membership-based organizations, and employee buying programs for large enterprises.

See Also: Diversification in Investing

Analyst Recommendations for TrueCar (NASDAQ:TRUE)

Receive News & Ratings for TrueCar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TrueCar and related companies with MarketBeat.com's FREE daily email newsletter.