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Dealertrack Technologies (NASDAQ:TRAK) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a research note issued on Monday, American Banking & Market News reports. The firm currently has a $56.90 target price on the stock. Zacks‘ price target would suggest a potential upside of 3.96% from the stock’s previous close.

Shares of Dealertrack Technologies (NASDAQ:TRAK) traded down 0.44% on Monday, hitting $54.49. The stock had a trading volume of 329,533 shares. Dealertrack Technologies has a 1-year low of $26.28 and a 1-year high of $55.75. The stock has a 50-day moving average of $47.50 and a 200-day moving average of $42.86. The company has a market cap of $2.394 billion and a price-to-earnings ratio of 421.00.

Dealertrack Technologies (NASDAQ:TRAK) last posted its quarterly earnings results on Wednesday, February 19th. The company reported $0.27 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.27. The company had revenue of $126.10 million for the quarter, compared to the consensus estimate of $123.17 million. Analysts expect that Dealertrack Technologies will post $1.48 EPS for the current fiscal year.

TRAK has been the subject of a number of other recent research reports. Analysts at TheStreet downgraded shares of Dealertrack Technologies from a “buy” rating to a “hold” rating in a research note on Friday. Separately, analysts at Barclays raised their price target on shares of Dealertrack Technologies from $43.00 to $47.00 in a research note on Thursday. Finally, analysts at Wells Fargo & Co. upgraded shares of Dealertrack Technologies from a “market perform” rating to an “outperform” rating in a research note on Thursday. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $43.58.

DealerTrack Technologies, Inc, formerly DealerTrack Holdings, Inc, is a holding company. Its Web-based software solutions and services are provided for all segments of the automotive retail industry, including dealers, lenders, other equipment manufacturers (NASDAQ:TRAK), third party retailers, agents and aftermarket providers.

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