TrueCar Inc (NASDAQ:TRUE) has received an average rating of “Hold” from the thirteen research firms that are covering the firm, MarketBeat.com reports. One equities research analyst has rated the stock with a sell rating and eleven have issued a hold rating on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $8.01.
TRUE has been the topic of several research reports. TheStreet downgraded shares of TrueCar from a “c-” rating to a “d” rating in a research note on Thursday, August 8th. Needham & Company LLC began coverage on shares of TrueCar in a research note on Thursday, September 12th. They set a “hold” rating on the stock. Zacks Investment Research raised shares of TrueCar from a “strong sell” rating to a “hold” rating in a research note on Thursday, October 10th. Citigroup decreased their target price on shares of TrueCar from $7.00 to $4.50 and set a “neutral” rating on the stock in a research note on Friday, August 9th. Finally, Cowen set a $5.00 target price on shares of TrueCar and gave the stock a “hold” rating in a research note on Friday, August 9th.
Shares of TRUE stock traded down $0.04 during trading hours on Monday, hitting $3.35. 470,837 shares of the company’s stock were exchanged, compared to its average volume of 1,503,566. The company has a market capitalization of $359.97 million, a PE ratio of -12.88 and a beta of 1.35. TrueCar has a 12-month low of $3.01 and a 12-month high of $11.77. The business’s 50 day simple moving average is $3.61 and its 200-day simple moving average is $5.05. The company has a current ratio of 3.09, a quick ratio of 3.09 and a debt-to-equity ratio of 0.12.
TrueCar (NASDAQ:TRUE) last posted its quarterly earnings results on Thursday, August 8th. The technology company reported ($0.02) EPS for the quarter, topping the consensus estimate of ($0.08) by $0.06. The firm had revenue of $88.08 million for the quarter, compared to the consensus estimate of $89.20 million. TrueCar had a negative net margin of 14.25% and a negative return on equity of 11.45%. The business’s revenue was up .3% compared to the same quarter last year. During the same period last year, the firm posted $0.03 earnings per share. Equities analysts anticipate that TrueCar will post -0.67 EPS for the current year.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Northern Trust Corp increased its stake in shares of TrueCar by 0.7% in the second quarter. Northern Trust Corp now owns 1,138,283 shares of the technology company’s stock worth $6,215,000 after buying an additional 8,106 shares during the period. Advisory Services Network LLC bought a new stake in TrueCar in the second quarter valued at $60,000. Stone Ridge Asset Management LLC bought a new stake in TrueCar in the second quarter valued at $67,000. Swiss National Bank boosted its holdings in TrueCar by 8.9% in the second quarter. Swiss National Bank now owns 154,900 shares of the technology company’s stock valued at $846,000 after acquiring an additional 12,700 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its holdings in TrueCar by 6.3% in the second quarter. Bank of New York Mellon Corp now owns 382,451 shares of the technology company’s stock valued at $2,088,000 after acquiring an additional 22,655 shares in the last quarter. 90.71% of the stock is currently owned by institutional investors.
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.
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