TrueCar Stock Price Down 6.1% Following Weak Earnings (TRUE)
Shares of TrueCar (NASDAQ:TRUE) fell 6.1% during trading on Friday after the company announced weaker than expected quarterly earnings, Analyst Ratings.Net reports. The company traded as low as $13.50 and last traded at $13.76, with a volume of 338,745 shares trading hands. The stock had previously closed at $14.66.
The company reported ($0.22) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.03) by $0.19. The company had revenue of $50.50 million for the quarter, compared to the consensus estimate of $45.52 million. The company’s quarterly revenue was up 61.8% on a year-over-year basis.
A number of research firms have recently commented on TRUE. Analysts at JMP Securities raised their price target on shares of TrueCar from $20.00 to $21.00 in a research note on Friday. Separately, analysts at JPMorgan Chase & Co. raised their price target on shares of TrueCar from $19.00 to $20.00 in a research note on Friday. Finally, analysts at Cowen and Company raised their price target on shares of TrueCar from $21.00 to $22.00 in a research note on Friday. Two equities research analysts have rated the stock with a hold rating, The company currently has an average rating of “Hold” and an average target price of $19.20.
The stock has a 50-day moving average of $13.61 and a 200-day moving average of $12.88. The company’s market cap is $960.4 million.
TrueCar, Inc (NASDAQ:TRUE) is a data-driven online platform operating a technology infrastructure, powered by data and analytics.
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