TrueCar Inc. (TRUE) Shares Down 1.4%
TrueCar Inc. (NASDAQ:TRUE) shares fell 1.4% on Thursday . The stock traded as low as $10.60 and last traded at $10.66, with a volume of 298,069 shares. The stock had previously closed at $10.81.
Several brokerages have weighed in on TRUE. Loop Capital began coverage on shares of TrueCar in a report on Wednesday, August 10th. They set a “hold” rating and a $11.00 price objective for the company. B. Riley reissued a “sell” rating and set a $5.00 price objective on shares of TrueCar in a report on Wednesday, August 10th. Craig Hallum reissued a “hold” rating on shares of TrueCar in a report on Friday, August 5th. RBC Capital Markets reissued a “sector perform” rating and set a $10.00 price objective (up from $6.00) on shares of TrueCar in a report on Monday, August 8th. Finally, JPMorgan Chase & Co. reaffirmed a “hold” rating and issued a $6.00 price target on shares of TrueCar in a report on Friday, August 5th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $8.02.
The stock’s market cap is $911.21 million. The firm’s 50 day moving average is $9.45 and its 200 day moving average is $7.04.
TrueCar (NASDAQ:TRUE) last released its earnings results on Thursday, August 4th. The company reported ($0.05) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.05. The company had revenue of $66.42 million for the quarter, compared to analyst estimates of $65.52 million. TrueCar’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.05) earnings per share. Analysts predict that TrueCar Inc. will post ($0.25) earnings per share for the current year.
In related news, Director John Krafcik sold 16,541 shares of the company’s stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $10.68, for a total transaction of $176,657.88. Following the completion of the transaction, the director now directly owns 74,869 shares in the company, valued at approximately $799,600.92. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Services Automobile Ass United sold 200,000 shares of the company’s stock in a transaction on Thursday, June 2nd. The shares were sold at an average price of $7.23, for a total transaction of $1,446,000.00. Following the transaction, the insider now owns 10,461,346 shares of the company’s stock, valued at $75,635,531.58. 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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