Cowen initiated coverage on shares of TrueCar (NASDAQ:TRUE) in a report released on Monday morning, TipRanks reports. The brokerage issued a hold rating and a $7.00 price objective on the technology company’s stock.
Other equities analysts have also recently issued reports about the stock. Benchmark dropped their price target on shares of TrueCar from $16.00 to $11.00 and set a buy rating for the company in a research note on Friday, February 15th. SunTrust Banks reaffirmed a hold rating and set a $8.00 price target on shares of TrueCar in a research note on Tuesday, May 14th. Zacks Investment Research raised shares of TrueCar from a sell rating to a hold rating in a research note on Thursday, February 14th. Craig Hallum cut shares of TrueCar from a buy rating to a hold rating and set a $10.00 price target for the company. in a research note on Friday, February 15th. Finally, B. Riley reaffirmed a neutral rating and set a $9.50 price target (down from $16.50) on shares of TrueCar in a research note on Friday, February 15th. Two analysts have rated the stock with a sell rating and ten have issued a hold rating to the stock. The company has a consensus rating of Hold and a consensus price target of $9.91.
Shares of NASDAQ:TRUE opened at $6.40 on Monday. TrueCar has a 52 week low of $5.61 and a 52 week high of $14.55. The firm has a market capitalization of $681.22 million, a price-to-earnings ratio of -24.62 and a beta of 2.03. The company has a debt-to-equity ratio of 0.12, a current ratio of 5.09 and a quick ratio of 5.09.
TrueCar (NASDAQ:TRUE) last released its quarterly earnings results on Thursday, May 9th. The technology company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.01. TrueCar had a negative net margin of 9.39% and a negative return on equity of 7.97%. The firm had revenue of $85.60 million during the quarter, compared to analysts’ expectations of $84.99 million. During the same period in the previous year, the company earned $0.01 EPS. The firm’s revenue for the quarter was up 5.6% compared to the same quarter last year. As a group, research analysts expect that TrueCar will post -0.27 EPS for the current fiscal year.
In related news, EVP Robert Mcclung sold 7,736 shares of TrueCar stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $6.90, for a total transaction of $53,378.40. Following the completion of the transaction, the executive vice president now directly owns 105,070 shares of the company’s stock, valued at approximately $724,983. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders have sold 9,043 shares of company stock valued at $61,681. 7.00% of the stock is owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Amundi Pioneer Asset Management Inc. bought a new stake in TrueCar during the 4th quarter valued at about $92,000. Amalgamated Bank bought a new stake in TrueCar during the 4th quarter valued at about $126,000. Quantamental Technologies LLC lifted its holdings in TrueCar by 654.8% during the 1st quarter. Quantamental Technologies LLC now owns 14,069 shares of the technology company’s stock valued at $93,000 after buying an additional 12,205 shares in the last quarter. M&T Bank Corp bought a new stake in TrueCar during the 1st quarter valued at about $105,000. Finally, Schonfeld Strategic Advisors LLC bought a new stake in TrueCar during the 1st quarter valued at about $140,000. Institutional investors own 95.83% of the company’s stock.
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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