TrueCar Inc. (TRUE) Trading 4.2% Higher
TrueCar Inc. (NASDAQ:TRUE)’s share price traded up 4.2% during mid-day trading on Monday . The stock traded as high as $9.70 and last traded at $9.66, with a volume of 447,024 shares trading hands. The stock had previously closed at $9.27.
Several equities analysts have recently issued reports on the company. B. Riley reissued a “sell” rating and set a $3.50 target price on shares of TrueCar in a research note on Monday, July 18th. JMP Securities reissued a “hold” rating on shares of TrueCar in a research note on Monday, June 6th. Loop Capital assumed coverage on TrueCar in a research note on Wednesday, August 10th. They set a “hold” rating and a $11.00 target price on the stock. Royal Bank Of Canada reissued a “hold” rating and set a $6.00 target price on shares of TrueCar in a research note on Friday, May 6th. Finally, Morgan Stanley reissued a “hold” rating on shares of TrueCar in a research note on Sunday, May 8th. Ten 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 stock presently has a consensus rating of “Hold” and an average target price of $8.47.
The company has a 50 day moving average price of $9.76 and a 200-day moving average price of $7.29. The company’s market cap is $810.53 million.
TrueCar (NASDAQ:TRUE) last posted its quarterly earnings data on Thursday, August 4th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.05. The company earned $66.42 million during the quarter, compared to the consensus estimate of $65.52 million. TrueCar’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the previous year, the business earned ($0.05) earnings per share. Equities analysts anticipate that TrueCar Inc. will post ($0.25) EPS for the current year.
In related news, Director John Krafcik sold 16,541 shares of the firm’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $10.68, for a total transaction of $176,657.88. Following the completion of the sale, the director now directly owns 74,869 shares of the company’s stock, valued at approximately $799,600.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Services Automobile Ass United sold 200,000 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now directly 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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