TrueCar (NASDAQ:TRUE) had its price target lowered by Citigroup from $7.00 to $4.50 in a research report issued on Friday, August 9th, The Fly reports. The firm currently has a “neutral” rating on the technology company’s stock. Citigroup‘s price objective indicates a potential upside of 20.32% from the company’s previous close.
Other equities research analysts also recently issued reports about the stock. SunTrust Banks reiterated a “hold” rating and issued a $8.00 price target on shares of TrueCar in a research report on Tuesday, May 14th. Cowen assumed coverage on shares of TrueCar in a research report on Monday, May 20th. They issued a “hold” rating and a $7.00 price target for the company. Zacks Investment Research downgraded shares of TrueCar from a “hold” rating to a “sell” rating in a research report on Saturday, July 27th. Finally, ValuEngine upgraded shares of TrueCar from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating and nine have given a hold rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $8.71.
Shares of TRUE stock opened at $3.74 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 5.09 and a current ratio of 3.09. TrueCar has a 12-month low of $3.01 and a 12-month high of $14.55. The firm has a 50 day moving average price of $5.04 and a two-hundred day moving average price of $6.37.
TrueCar (NASDAQ:TRUE) last released its quarterly earnings results on Thursday, August 8th. The technology company reported ($0.02) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.06. TrueCar had a negative net margin of 14.25% and a negative return on equity of 11.45%. The company had revenue of $88.08 million during the quarter, compared to the consensus estimate of $89.20 million. During the same period in the previous year, the business earned $0.03 earnings per share. The firm’s quarterly revenue was up .3% on a year-over-year basis. As a group, equities analysts anticipate that TrueCar will post -0.58 EPS for the current year.
In other TrueCar news, EVP Robert Mcclung sold 7,669 shares of the business’s stock in a transaction on Tuesday, June 18th. The shares were sold at an average price of $5.41, for a total transaction of $41,489.29. Following the sale, the executive vice president now owns 121,744 shares of the company’s stock, valued at $658,635.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 7.00% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of TRUE. Advisory Services Network LLC bought a new stake in shares of TrueCar during the second quarter worth $60,000. Stone Ridge Asset Management LLC bought a new stake in shares of TrueCar in the second quarter worth $67,000. Amundi Pioneer Asset Management Inc. bought a new stake in shares of TrueCar in the fourth quarter worth $92,000. Quantamental Technologies LLC grew its stake in shares of TrueCar by 654.8% in the first quarter. Quantamental Technologies LLC now owns 14,069 shares of the technology company’s stock worth $93,000 after purchasing an additional 12,205 shares during the last quarter. Finally, Amalgamated Bank bought a new stake in shares of TrueCar in the fourth quarter worth $126,000. 93.62% of the stock is currently owned by hedge funds and other 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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