TrueCar (NASDAQ:TRUE) had its target price cut by Benchmark from $18.00 to $16.00 in a research report report published on Wednesday morning, Marketbeat Ratings reports. They currently have a buy rating on the technology company’s stock.

Other equities analysts also recently issued research reports about the company. Zacks Investment Research downgraded TrueCar from a buy rating to a hold rating in a research report on Thursday, August 16th. DA Davidson set a $13.00 target price on TrueCar and gave the company a hold rating in a research report on Monday, August 13th. ValuEngine raised TrueCar from a sell rating to a hold rating in a research report on Thursday, September 13th. Finally, B. Riley cut their target price on TrueCar from $18.00 to $16.50 and set a buy rating on the stock in a research report on Wednesday. Two analysts have rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company. TrueCar presently has a consensus rating of Hold and a consensus target price of $14.58.

Shares of NASDAQ TRUE traded up $0.02 during trading hours on Wednesday, hitting $10.05. 991,504 shares of the company traded hands, compared to its average volume of 774,779. The company has a market cap of $965.08 million, a P/E ratio of -37.22 and a beta of 2.62. The company has a debt-to-equity ratio of 0.09, a quick ratio of 6.38 and a current ratio of 6.38. TrueCar has a 12 month low of $8.75 and a 12 month high of $14.55.

TrueCar (NASDAQ:TRUE) last released its earnings results on Tuesday, November 6th. The technology company reported $0.04 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.01). The company had revenue of $93.59 million for the quarter, compared to the consensus estimate of $93.89 million. TrueCar had a negative net margin of 8.80% and a negative return on equity of 7.71%. The business’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.02 EPS. As a group, equities analysts predict that TrueCar will post -0.25 EPS for the current year.

In other TrueCar news, EVP Robert Mcclung sold 7,669 shares of the company’s stock in a transaction on Tuesday, September 18th. The stock was sold at an average price of $13.51, for a total value of $103,608.19. Following the transaction, the executive vice president now owns 128,791 shares of the company’s stock, valued at approximately $1,739,966.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 9,167 shares of company stock worth $121,994 in the last ninety days. 5.60% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the business. Jane Street Group LLC bought a new position in TrueCar in the 1st quarter valued at $170,000. NumerixS Investment Technologies Inc grew its position in TrueCar by 30.8% in the 2nd quarter. NumerixS Investment Technologies Inc now owns 31,818 shares of the technology company’s stock valued at $321,000 after acquiring an additional 7,500 shares during the last quarter. Fox Run Management L.L.C. bought a new position in TrueCar in the 3rd quarter valued at $266,000. 683 Capital Management LLC grew its position in TrueCar by 3.7% in the 2nd quarter. 683 Capital Management LLC now owns 3,383,358 shares of the technology company’s stock valued at $34,138,000 after acquiring an additional 120,000 shares during the last quarter. Finally, Voya Investment Management LLC grew its position in TrueCar by 19.1% in the 2nd quarter. Voya Investment Management LLC now owns 33,777 shares of the technology company’s stock valued at $341,000 after acquiring an additional 5,412 shares during the last quarter. 95.55% of the stock is currently owned by institutional investors.

TrueCar Company Profile

TrueCar, Inc, together with its subsidiaries, operates as an Internet-based information, technology, and communication services company in the United States. It operates its platform on the TrueCar Website and mobile applications. The company also customizes and operates its platform for its affinity group marketing partners, including financial institutions, membership-based organizations, and employee buying programs for large enterprises.

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Analyst Recommendations for TrueCar (NASDAQ:TRUE)

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