TrueCar Inc. (TRUE) Stock Price Down 1%
Shares of TrueCar Inc. (NASDAQ:TRUE) fell 1% during trading on Friday . The company traded as low as $9.72 and last traded at $9.73, with a volume of 244,088 shares traded. The stock had previously closed at $9.83.
A number of brokerages recently commented on TRUE. Loop Capital began coverage on TrueCar in a report on Wednesday, August 10th. They set a “hold” rating and a $11.00 price target on the stock. B. Riley reiterated a “sell” rating and set a $5.00 price target on shares of TrueCar in a report on Wednesday, August 10th. Craig Hallum restated a “hold” rating on shares of TrueCar in a research note on Friday, August 5th. JPMorgan Chase & Co. restated a “hold” rating and issued a $6.00 target price on shares of TrueCar in a research note on Friday, August 5th. Finally, RBC Capital Markets restated a “sector perform” rating and issued a $10.00 target price (up from $6.00) on shares of TrueCar in a research note on Monday, August 8th. Ten equities research analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. TrueCar has a consensus rating of “Hold” and an average price target of $8.47.
The company’s market capitalization is $818.14 million. The firm’s 50-day moving average is $9.81 and its 200 day moving average is $7.32.
TrueCar (NASDAQ:TRUE) last issued its earnings results on Thursday, August 4th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.05. During the same quarter in the prior year, the business posted ($0.05) earnings per share. The business had revenue of $66.42 million for the quarter, compared to analysts’ expectations of $65.52 million. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. On average, equities analysts anticipate that TrueCar Inc. will post ($0.25) EPS for the current year.
In other news, major shareholder Services Automobile Ass United sold 170,000 shares of the stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $7.91, for a total transaction of $1,344,700.00. Following the transaction, the insider now directly owns 10,325,587 shares of the company’s stock, valued at approximately $81,675,393.17. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director John Krafcik sold 16,541 shares of the stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $10.68, for a total value of $176,657.88. Following the transaction, the director now directly owns 74,869 shares in the company, valued at $799,600.92. 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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