TrueCar Inc (NASDAQ:TRUE) had its price target upped by research analysts at Craig Hallum from $20.00 to $23.00 in a note issued to investors on Wednesday, May 10th. The brokerage presently has a “buy” rating on the technology company’s stock. Craig Hallum’s price objective would indicate a potential upside of 28.42% from the company’s current price.
Several other equities analysts also recently issued reports on the stock. Royal Bank of Canada upped their price objective on shares of TrueCar from $19.00 to $22.00 and gave the company an “outperform” rating in a report on Wednesday, May 10th. B. Riley restated a “buy” rating and set a $21.50 price objective on shares of TrueCar in a report on Sunday, May 7th. Zacks Investment Research upgraded shares of TrueCar from a “hold” rating to a “buy” rating and set a $19.00 price objective on the stock in a report on Friday, May 5th. Cowen and Company upped their price objective on shares of TrueCar from $13.00 to $15.00 and gave the company a “market perform” rating in a report on Tuesday, April 25th. Finally, Loop Capital restated a “buy” rating and set a $18.00 price objective on shares of TrueCar in a report on Tuesday, March 28th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the stock. TrueCar has a consensus rating of “Buy” and an average price target of $16.59.
TrueCar (TRUE) opened at 17.91 on Wednesday. The company’s 50-day moving average is $17.04 and its 200 day moving average is $14.40. The stock’s market capitalization is $1.66 billion. TrueCar has a 12-month low of $6.51 and a 12-month high of $18.76.
TrueCar (NASDAQ:TRUE) last announced its earnings results on Tuesday, May 9th. The technology company reported ($0.01) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.02) by $0.01. TrueCar had a negative net margin of 22.92% and a negative return on equity of 22.29%. The business had revenue of $75.80 million during the quarter, compared to the consensus estimate of $73.34 million. During the same period in the previous year, the company posted ($0.07) earnings per share. The firm’s revenue was up 22.5% on a year-over-year basis. On average, equities research analysts expect that TrueCar will post ($0.02) earnings per share for the current fiscal year.
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In other TrueCar news, Director Steven J. Dietz sold 1,320,692 shares of the company’s stock in a transaction that occurred on Tuesday, May 2nd. The stock was sold at an average price of $16.50, for a total value of $21,791,418.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Services Automobile Ass United sold 3,132,343 shares of the company’s stock in a transaction that occurred on Tuesday, May 2nd. The stock was sold at an average price of $16.50, for a total value of $51,683,659.50. Following the completion of the sale, the insider now owns 8,533,348 shares in the company, valued at approximately $140,800,242. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,178,035 shares of company stock worth $100,592,078. 17.30% of the stock is owned by insiders.
A number of large investors have recently added to or reduced their stakes in TRUE. Two Sigma Investments LP bought a new stake in TrueCar during the fourth quarter valued at approximately $963,000. Lucha Capital Management LP bought a new stake in TrueCar during the fourth quarter valued at approximately $4,537,000. Capstone Investment Advisors LLC bought a new stake in TrueCar during the fourth quarter valued at approximately $281,000. Bayesian Capital Management LP acquired a new position in shares of TrueCar during the fourth quarter worth about $328,000. Finally, Marshall Wace LLP raised its position in shares of TrueCar by 753.6% in the fourth quarter. Marshall Wace LLP now owns 92,973 shares of the technology company’s stock worth $1,162,000 after buying an additional 82,081 shares during the period. Institutional investors and hedge funds own 63.62% of the company’s stock.
TrueCar Company Profile
TrueCar, Inc is an Internet-based information, technology, and communication services company. The Company has a data-driven online platform, which features market data and analytics. The Company-branded platform is available on its TrueCar Website and mobile applications. 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 a range of enterprises.
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