DA Davidson initiated coverage on shares of TrueCar (NASDAQ:TRUE) in a research report released on Wednesday morning, MarketBeat reports. The firm issued a neutral rating and a $9.75 price objective on the technology company’s stock.
Several other brokerages also recently commented on TRUE. Stephens set a $18.00 price objective on shares of TrueCar and gave the company a buy rating in a research report on Friday, February 16th. B. Riley restated a buy rating and set a $18.00 price objective on shares of TrueCar in a research report on Wednesday, January 24th. Zacks Investment Research downgraded shares of TrueCar from a hold rating to a strong sell rating in a research report on Saturday, January 20th. ValuEngine downgraded shares of TrueCar from a sell rating to a strong sell rating in a research report on Thursday, March 1st. Finally, JPMorgan Chase downgraded shares of TrueCar from a neutral rating to an underweight rating in a research report on Thursday, March 22nd. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $16.64.
Shares of TRUE opened at $9.28 on Wednesday. TrueCar has a one year low of $8.88 and a one year high of $21.75. The company has a market cap of $941.08, a price-to-earnings ratio of -34.37 and a beta of 2.59. The company has a debt-to-equity ratio of 0.09, a current ratio of 6.41 and a quick ratio of 6.41.
TrueCar (NASDAQ:TRUE) last announced its quarterly earnings data on Thursday, February 15th. The technology company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.01 by $0.04. TrueCar had a negative net margin of 10.16% and a negative return on equity of 8.70%. The business had revenue of $83.13 million during the quarter, compared to the consensus estimate of $81.72 million. During the same period in the previous year, the business earned ($0.01) earnings per share. The company’s revenue was up 12.2% on a year-over-year basis. sell-side analysts anticipate that TrueCar will post -0.25 earnings per share for the current fiscal year.
Several large investors have recently made changes to their positions in the company. UBS Asset Management Americas Inc. increased its holdings in shares of TrueCar by 11.5% during the fourth quarter. UBS Asset Management Americas Inc. now owns 45,407 shares of the technology company’s stock worth $509,000 after buying an additional 4,700 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of TrueCar during the third quarter worth $104,000. American International Group Inc. increased its holdings in shares of TrueCar by 18.3% during the third quarter. American International Group Inc. now owns 45,936 shares of the technology company’s stock worth $725,000 after buying an additional 7,101 shares in the last quarter. California Public Employees Retirement System increased its holdings in shares of TrueCar by 5.0% during the third quarter. California Public Employees Retirement System now owns 191,042 shares of the technology company’s stock worth $3,017,000 after buying an additional 9,042 shares in the last quarter. Finally, Teachers Advisors LLC increased its holdings in shares of TrueCar by 8.0% during the fourth quarter. Teachers Advisors LLC now owns 125,229 shares of the technology company’s stock worth $1,403,000 after buying an additional 9,231 shares in the last quarter. Institutional investors own 89.02% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: “TrueCar (TRUE) Research Coverage Started at DA Davidson” was originally published by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this story on another website, it was illegally copied and republished in violation of United States & international trademark & copyright legislation. The correct version of this story can be accessed at https://www.dispatchtribunal.com/2018/04/08/truecar-true-research-coverage-started-at-da-davidson.html.
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.
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.