Shares of TrueCar Inc (NASDAQ:TRUE) have earned a consensus recommendation of “Hold” from the twelve ratings firms that are currently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell recommendation and ten have issued a hold recommendation on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $9.41.
TRUE has been the subject of several research reports. Goldman Sachs Group set a €137.00 ($159.30) price target on Safran and gave the stock a “buy” rating in a report on Monday, March 18th. Cowen initiated coverage on TrueCar in a report on Monday, May 20th. They set a “hold” rating and a $7.00 price target for the company. Benchmark cut TrueCar from a “buy” rating to a “hold” rating and set a $11.00 price target for the company. in a report on Monday, March 25th. Finally, SunTrust Banks reaffirmed a “hold” rating and issued a $8.00 price objective on shares of TrueCar in a report on Tuesday, May 14th.
Shares of NASDAQ TRUE remained flat at $$5.34 during midday trading on Friday. The stock had a trading volume of 494,819 shares, compared to its average volume of 2,010,689. The stock has a market capitalization of $562.25 million, a P/E ratio of -20.54 and a beta of 1.57. The company’s 50 day moving average is $5.61. The company has a quick ratio of 5.09, a current ratio of 5.09 and a debt-to-equity ratio of 0.12. TrueCar has a one year low of $5.02 and a one year high of $14.55.
TrueCar (NASDAQ:TRUE) last released its quarterly earnings results on Thursday, May 9th. The technology company reported ($0.09) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.01. The business had revenue of $85.60 million during the quarter, compared to analysts’ expectations of $84.99 million. TrueCar had a negative return on equity of 7.97% and a negative net margin of 9.39%. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same period last year, the firm posted $0.01 EPS. On average, research analysts forecast that TrueCar will post -0.31 earnings per share for the current fiscal year.
In other news, EVP Robert Mcclung sold 7,669 shares of the business’s stock in a transaction on Tuesday, June 18th. The stock was sold at an average price of $5.41, for a total transaction of $41,489.29. Following the completion of the transaction, the executive vice president now owns 121,744 shares of the company’s stock, valued at approximately $658,635.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold a total of 8,976 shares of company stock valued at $49,792 in the last three months. 7.00% of the stock is owned by insiders.
Institutional investors have recently bought and sold shares of the company. Amundi Pioneer Asset Management Inc. acquired a new position in shares of TrueCar during the 4th quarter worth $92,000. Quantamental Technologies LLC raised its holdings in shares of TrueCar by 654.8% during the 1st quarter. Quantamental Technologies LLC now owns 14,069 shares of the technology company’s stock worth $93,000 after buying an additional 12,205 shares in the last quarter. Amalgamated Bank acquired a new position in shares of TrueCar during the 4th quarter worth $126,000. BNP Paribas Arbitrage SA grew its position in TrueCar by 1,117.5% during the 1st quarter. BNP Paribas Arbitrage SA now owns 21,441 shares of the technology company’s stock worth $142,000 after acquiring an additional 19,680 shares during the last quarter. Finally, NumerixS Investment Technologies Inc bought a new stake in TrueCar during the 1st quarter worth $156,000. 94.98% of the stock is owned by institutional investors.
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.
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