TrueCar Inc. (TRUE) Reaches New 52-Week High at $11.13
TrueCar Inc. (NASDAQ:TRUE)’s share price hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $11.13 and last traded at $10.83, with a volume of 406,676 shares changing hands. The stock had previously closed at $10.92.
Several brokerages have recently issued reports on TRUE. B. Riley reiterated a “sell” rating and issued a $5.00 price target on shares of TrueCar in a research note on Friday, August 5th. Loop Capital began coverage on TrueCar in a research note on Wednesday. They issued a “hold” rating and a $11.00 price target on the stock. JMP Securities reiterated a “hold” rating on shares of TrueCar in a research note on Monday, June 6th. Royal Bank Of Canada reiterated a “hold” rating and issued a $6.00 price target on shares of TrueCar in a research note on Friday, May 6th. Finally, Zacks Investment Research upgraded TrueCar from a “sell” rating to a “hold” rating in a research note on Thursday, April 21st. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. TrueCar has an average rating of “Hold” and a consensus target price of $8.02.
The company’s 50 day moving average price is $9.01 and its 200-day moving average price is $6.88. The company’s market cap is $899.73 million.
TrueCar (NASDAQ:TRUE) last posted its earnings results on Thursday, August 4th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.05. The company had revenue of $66.42 million for the quarter, compared to analysts’ expectations of $65.52 million. The company’s revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.05) EPS. Equities research analysts expect that TrueCar Inc. will post ($0.24) earnings per share for the current fiscal year.
In related news, major shareholder Services Automobile Ass United sold 170,000 shares of the stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $7.91, for a total value of $1,344,700.00. Following the sale, the insider now owns 10,325,587 shares in the company, valued at $81,675,393.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John Krafcik sold 16,541 shares of the stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $10.68, for a total value of $176,657.88. Following the completion of the sale, the director now owns 74,869 shares in the company, valued at approximately $799,600.92. The disclosure for this sale can be found here.
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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