TrueCar Inc (TRUE) Trading Up 2.8%
Shares of TrueCar Inc (NASDAQ:TRUE) were up 2.8% on Wednesday . The stock traded as high as $8.15 and last traded at $8.10, with a volume of 206,168 shares. The stock had previously closed at $7.88.
Several analysts have weighed in on TRUE shares. B. Riley reaffirmed a “sell” rating and set a $3.50 price objective on shares of TrueCar in a research note on Tuesday, March 29th. Topeka Capital Markets started coverage on shares of TrueCar in a research note on Monday, April 4th. They set a “hold” rating and a $6.00 price objective on the stock. Zacks Investment Research raised shares of TrueCar from a “sell” rating to a “hold” rating in a research note on Thursday, April 21st. Royal Bank Of Canada reaffirmed a “hold” rating and set a $6.00 price objective on shares of TrueCar in a research note on Friday, May 6th. Finally, Morgan Stanley reaffirmed a “hold” rating on shares of TrueCar in a research note on Sunday, May 8th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has given a strong buy rating to the company. TrueCar presently has a consensus rating of “Hold” and a consensus target price of $7.74.
The stock’s market cap is $704.52 million. The firm has a 50 day moving average of $7.33 and a 200-day moving average of $6.56.
TrueCar (NASDAQ:TRUE) last announced its quarterly earnings results on Thursday, May 5th. The company reported ($0.07) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.07). The company had revenue of $61.86 million for the quarter, compared to the consensus estimate of $61.13 million. The firm’s revenue was up 5.7% on a year-over-year basis. Equities research analysts anticipate that TrueCar Inc will post ($0.29) EPS for the current year.
In other TrueCar news, major shareholder Services Automobile Ass United sold 30,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 6th. The shares were sold at an average price of $7.92, for a total transaction of $237,600.00. Following the sale, the insider now directly owns 10,232,346 shares of the company’s stock, valued at approximately $81,040,180.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.
An institutional investor recently raised its position in TrueCar stock. Wells Fargo & Company MN raised its position in TrueCar Inc (NASDAQ:TRUE) by 648.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 113,232 shares of the company’s stock after buying an additional 98,110 shares during the period. Wells Fargo & Company MN owned about 0.14% of TrueCar worth $1,080,000 as of its most recent filing with the SEC.
TrueCar, Inc offers a diverse software ecosystem for buying cars. The Company’s software ecosystem is based on a common technology infrastructure, and powered by data and analytics. The Company operates its platform on the TrueCar Website and its branded mobile experience. It customizes and operates its platform on a co-branded basis for its affinity group marketing partners, including financial institutions, membership-based organizations, and employee buying programs for enterprises.
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