Analysts at Cowen initiated coverage on shares of TrueCar (NASDAQ:TRUE) in a research report issued to clients and investors on Monday, May 20th, TipRanks reports. The brokerage set a “hold” rating and a $7.00 price target on the technology company’s stock. Cowen’s target price points to a potential upside of 27.50% from the stock’s previous close.
TRUE has been the subject of a number of other reports. SunTrust Banks reaffirmed a “hold” rating and issued a $9.00 price objective on shares of TrueCar in a research report on Monday, May 6th. Zacks Investment Research raised shares of TrueCar from a “sell” rating to a “hold” rating in a research report on Thursday, February 7th. Royal Bank of Canada downgraded shares of TrueCar from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $12.00 to $9.00 in a research report on Friday, February 15th. Benchmark reduced their target price on shares of TrueCar from $16.00 to $11.00 and set a “buy” rating for the company in a research report on Friday, February 15th. Finally, ValuEngine downgraded shares of TrueCar from a “hold” rating to a “sell” rating in a research report on Friday, February 15th. Two equities research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $9.91.
Shares of TRUE traded down $0.05 on Monday, reaching $5.49. The company’s stock had a trading volume of 699,013 shares, compared to its average volume of 1,541,565. The company has a debt-to-equity ratio of 0.12, a current ratio of 5.09 and a quick ratio of 5.09. TrueCar has a twelve month low of $5.02 and a twelve month high of $14.55. The firm has a market capitalization of $579.09 million, a PE ratio of -21.12 and a beta of 1.86.
TrueCar (NASDAQ:TRUE) last posted its earnings results on Thursday, May 9th. The technology company reported ($0.09) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.01. TrueCar had a negative net margin of 9.39% and a negative return on equity of 7.97%. The company had revenue of $85.60 million for the quarter, compared to analyst estimates of $84.99 million. During the same quarter in the prior year, the business posted $0.01 EPS. The firm’s revenue was up 5.6% compared to the same quarter last year. As a group, analysts expect that TrueCar will post -0.3 EPS for the current year.
In related news, EVP Robert Mcclung sold 7,736 shares of the firm’s stock in a transaction that occurred on Monday, March 18th. The shares were sold at an average price of $6.90, for a total value of $53,378.40. Following the completion of the transaction, the executive vice president now directly owns 105,070 shares of the company’s stock, valued at approximately $724,983. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders sold 9,043 shares of company stock valued at $61,681. 7.00% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Amundi Pioneer Asset Management Inc. purchased a new stake in TrueCar in the 4th quarter worth approximately $92,000. Quantamental Technologies LLC lifted its stake in TrueCar by 654.8% in the 1st quarter. Quantamental Technologies LLC now owns 14,069 shares of the technology company’s stock worth $93,000 after purchasing an additional 12,205 shares in the last quarter. M&T Bank Corp purchased a new stake in TrueCar in the 1st quarter worth approximately $105,000. Amalgamated Bank purchased a new stake in TrueCar in the 4th quarter worth approximately $126,000. Finally, Schonfeld Strategic Advisors LLC purchased a new stake in TrueCar in the 1st quarter worth approximately $140,000. Institutional investors and hedge funds own 94.98% of the company’s stock.
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.
Featured Story: Exchange-Traded Funds (ETFs)
Receive News & Ratings for TrueCar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TrueCar and related companies with MarketBeat.com's FREE daily email newsletter.