TrueCar Inc. (TRUE) Trading Up 4.5%
TrueCar Inc. (NASDAQ:TRUE) shares were up 4.5% on Monday . The stock traded as high as $10.95 and last traded at $10.69, with a volume of 658,312 shares. The stock had previously closed at $10.23.
TRUE has been the topic of several analyst reports. Zacks Investment Research raised shares of TrueCar from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a research report on Wednesday, August 3rd. Royal Bank Of Canada reaffirmed a “hold” rating and set a $6.00 price target on shares of TrueCar in a research report on Friday, May 6th. Morgan Stanley reaffirmed a “hold” rating on shares of TrueCar in a research report on Sunday, May 8th. JMP Securities reaffirmed a “hold” rating on shares of TrueCar in a research report on Monday, June 6th. Finally, Craig Hallum reaffirmed a “hold” rating on shares of TrueCar in a research report on Friday, August 5th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. TrueCar has a consensus rating of “Hold” and a consensus target price of $7.69.
The stock’s 50 day moving average price is $8.73 and its 200 day moving average price is $6.79. The stock’s market cap is $910.64 million.
TrueCar (NASDAQ:TRUE) last issued its earnings results on Thursday, August 4th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.05. The company earned $66.42 million during the quarter, compared to analysts’ expectations of $65.52 million. During the same period last year, the business posted ($0.05) earnings per share. The company’s quarterly revenue was up 1.7% on a year-over-year basis. On average, equities research analysts expect that TrueCar Inc. will post ($0.23) EPS for the current year.
In other TrueCar news, major shareholder Services Automobile Ass United sold 200,000 shares of the stock in a transaction dated Thursday, June 2nd. The shares were sold at an average price of $7.23, for a total value of $1,446,000.00. Following the completion of the transaction, the insider now directly owns 10,461,346 shares of the company’s stock, valued at $75,635,531.58. The sale was disclosed in a filing with the SEC, which is available at this link.
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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