TrueCar Inc. (TRUE) Shares Gap Up to $9.50
TrueCar Inc. (NASDAQ:TRUE) gapped up prior to trading on Tuesday . The stock had previously closed at $9.48, but opened at $9.50. TrueCar shares last traded at $9.87, with a volume of 492,141 shares trading hands.
Several equities research analysts have recently commented on the company. Zacks Investment Research upgraded TrueCar from a “hold” rating to a “buy” rating and set a $10.00 price target for the company in a research note on Wednesday, August 3rd. B. Riley restated a “sell” rating and set a $3.50 price target on shares of TrueCar in a research note on Monday, July 18th. Morgan Stanley restated a “hold” rating on shares of TrueCar in a research note on Sunday, May 8th. JPMorgan Chase & Co. restated a “hold” rating and set a $6.00 price target on shares of TrueCar in a research note on Friday, August 5th. Finally, Craig Hallum restated a “hold” rating on shares of TrueCar in a research note on Friday, August 5th. Ten investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $8.47.
The stock’s market cap is $818.14 million. The firm’s 50 day moving average is $9.76 and its 200-day moving average is $7.29.
TrueCar (NASDAQ:TRUE) last announced its earnings results on Thursday, August 4th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.05. During the same period in the previous year, the firm earned ($0.05) EPS. The business had revenue of $66.42 million for the quarter, compared to the consensus estimate of $65.52 million. The firm’s revenue was up 1.7% on a year-over-year basis. On average, equities research analysts forecast that TrueCar Inc. will post ($0.25) EPS for the current fiscal year.
In other news, Director John Krafcik sold 16,541 shares of the business’s 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 sale, the director now owns 74,869 shares of the company’s stock, valued at approximately $799,600.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Services Automobile Ass United sold 200,000 shares of the business’s stock in a transaction on Thursday, June 2nd. The stock was sold at an average price of $7.23, for a total value of $1,446,000.00. Following the completion of the sale, the insider now directly owns 10,461,346 shares in the company, valued at approximately $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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