Shares of TrueCar Inc (NASDAQ:TRUE) have earned a consensus recommendation of “Hold” from the eleven analysts that are covering the company, Marketbeat reports. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $13.86.
Several brokerages have weighed in on TRUE. SunTrust Banks began coverage on TrueCar in a research report on Monday. They set a “hold” rating on the stock. Benchmark cut their price target on TrueCar from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Wednesday, November 7th. Zacks Investment Research raised TrueCar from a “hold” rating to a “buy” rating and set a $15.00 price target on the stock in a research report on Thursday, October 11th. B. Riley cut their price target on TrueCar from $18.00 to $16.50 and set a “buy” rating on the stock in a research report on Wednesday, November 7th. Finally, BTIG Research began coverage on TrueCar in a research report on Tuesday, November 13th. They set a “buy” rating and a $13.00 price target on the stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. BlackRock Inc. grew its position in shares of TrueCar by 33.2% during the 2nd quarter. BlackRock Inc. now owns 6,139,516 shares of the technology company’s stock valued at $61,948,000 after acquiring an additional 1,530,730 shares during the period. Senvest Management LLC grew its position in shares of TrueCar by 11.3% during the 2nd quarter. Senvest Management LLC now owns 8,126,025 shares of the technology company’s stock valued at $81,992,000 after acquiring an additional 821,933 shares during the period. Ontario Teachers Pension Plan Board grew its position in shares of TrueCar by 11.4% during the 3rd quarter. Ontario Teachers Pension Plan Board now owns 5,850,000 shares of the technology company’s stock valued at $82,485,000 after acquiring an additional 600,000 shares during the period. Dimensional Fund Advisors LP acquired a new stake in shares of TrueCar during the 3rd quarter valued at about $6,630,000. Finally, JPMorgan Chase & Co. grew its position in shares of TrueCar by 463.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 423,468 shares of the technology company’s stock valued at $5,971,000 after acquiring an additional 348,334 shares during the period. 96.24% of the stock is currently owned by institutional investors.
Shares of TRUE opened at $9.49 on Tuesday. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of -35.15 and a beta of 2.60. The company has a debt-to-equity ratio of 0.07, a quick ratio of 5.66 and a current ratio of 5.66. TrueCar has a fifty-two week low of $8.75 and a fifty-two week high of $14.55.
TrueCar (NASDAQ:TRUE) last announced its quarterly earnings results on Tuesday, November 6th. The technology company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.01). The company had revenue of $93.59 million for the quarter, compared to analyst estimates of $93.89 million. TrueCar had a negative return on equity of 7.56% and a negative net margin of 8.80%. TrueCar’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.02 earnings per share. On average, analysts expect that TrueCar will post -0.27 EPS for the current year.
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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