TrueCar, Inc. (TRUE) Receives Hold Rating from Cowen and Company
TrueCar, Inc. (NASDAQ:TRUE)‘s stock had its “hold” rating reaffirmed by stock analysts at Cowen and Company in a report released on Thursday. They currently have a $15.00 target price on the technology company’s stock. Cowen and Company’s price objective points to a potential downside of 10.02% from the stock’s previous close.
Other equities analysts also recently issued research reports about the company. Royal Bank Of Canada restated a “buy” rating and issued a $22.00 price objective on shares of TrueCar in a report on Friday, August 4th. B. Riley reiterated a “buy” rating and set a $21.50 price target on shares of TrueCar in a report on Sunday, May 7th. Zacks Investment Research upgraded TrueCar from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a report on Friday, May 5th. Craig Hallum increased their price target on TrueCar from $20.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, May 10th. Finally, TheStreet upgraded TrueCar from a “d” rating to a “c” rating in a report on Monday, May 15th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the stock. TrueCar currently has a consensus rating of “Buy” and an average target price of $18.56.
TrueCar (NASDAQ TRUE) traded up 1.96% during midday trading on Thursday, reaching $16.67. 837,509 shares of the company’s stock traded hands. The stock’s market capitalization is $1.64 billion. TrueCar has a 52 week low of $8.09 and a 52 week high of $21.75. The company’s 50-day moving average price is $19.19 and its 200 day moving average price is $16.81.
TrueCar (NASDAQ:TRUE) last released its quarterly earnings data on Tuesday, August 8th. The technology company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.02. TrueCar had a negative return on equity of 11.00% and a negative net margin of 9.86%. The firm had revenue of $81.82 million for the quarter, compared to the consensus estimate of $80.75 million. During the same quarter in the prior year, the company posted ($0.05) earnings per share. The firm’s revenue was up 23.2% on a year-over-year basis. On average, equities research analysts expect that TrueCar will post $0.02 earnings per share for the current year.
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In other news, EVP Jeff Swart sold 34,863 shares of the firm’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $19.82, for a total value of $690,984.66. Following the sale, the executive vice president now owns 99,084 shares in the company, valued at $1,963,844.88. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director John Krafcik sold 10,000 shares of the firm’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $16.50, for a total transaction of $165,000.00. Following the completion of the sale, the director now owns 61,678 shares in the company, valued at approximately $1,017,687. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,523,149 shares of company stock worth $29,035,907. 17.30% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the company. Ameritas Investment Partners Inc. increased its stake in shares of TrueCar by 15.6% in the second quarter. Ameritas Investment Partners Inc. now owns 5,427 shares of the technology company’s stock valued at $108,000 after buying an additional 734 shares during the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of TrueCar by 648.1% in the second quarter. BNP Paribas Arbitrage SA now owns 7,937 shares of the technology company’s stock valued at $158,000 after buying an additional 6,876 shares during the last quarter. North Star Investment Management Corp. bought a new stake in shares of TrueCar during the second quarter valued at about $179,000. First Mercantile Trust Co. bought a new stake in shares of TrueCar during the first quarter valued at about $141,000. Finally, Great West Life Assurance Co. Can increased its stake in shares of TrueCar by 185.6% in the second quarter. Great West Life Assurance Co. Can now owns 10,576 shares of the technology company’s stock valued at $210,000 after buying an additional 6,873 shares during the last quarter. Institutional investors and hedge funds own 84.57% 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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