TrueCar Inc. (TRUE) Sets New 52-Week High at $11.13
TrueCar Inc. (NASDAQ:TRUE) shares reached a new 52-week high during trading on Thursday . The company traded as high as $11.13 and last traded at $10.83, with a volume of 406,676 shares trading hands. The stock had previously closed at $10.92.
TRUE has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of TrueCar from a “sell” rating to a “hold” rating in a research note on Thursday, April 21st. B. Riley reiterated a “sell” rating and set a $3.50 price objective on shares of TrueCar in a research note on Monday, July 18th. Morgan Stanley reiterated a “hold” rating on shares of TrueCar in a research note on Sunday, May 8th. JPMorgan Chase & Co. reiterated a “hold” rating and set a $6.00 price objective on shares of TrueCar in a research note on Friday, August 5th. Finally, Craig Hallum reiterated a “hold” rating on shares of TrueCar in a research note on Friday, August 5th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. TrueCar currently has an average rating of “Hold” and an average price target of $8.02.
The firm has a 50 day moving average price of $8.83 and a 200 day moving average price of $6.82. The firm’s market cap is $915.68 million.
TrueCar (NASDAQ:TRUE) last released its quarterly earnings results on Thursday, August 4th. The company reported ($0.05) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.05. During the same period in the prior year, the business earned ($0.05) EPS. The firm earned $66.42 million during the quarter, compared to the consensus estimate of $65.52 million. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. Equities analysts anticipate that TrueCar Inc. will post ($0.23) EPS for the current fiscal year.
In other news, major shareholder Services Automobile Ass United sold 200,000 shares of TrueCar stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $9.54, for a total value of $1,908,000.00. Following the transaction, the insider now owns 10,072,346 shares of the company’s stock, valued at $96,090,180.84. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.
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.