Zacks Investment Research upgraded shares of TrueCar (NASDAQ:TRUE) from a sell rating to a hold rating in a report released on Wednesday, June 6th.
According to Zacks, “TrueCar Inc. engages in developing and publishing an online automotive information and communications platform. The Company operates its company-branded platform on its TrueCar.com Website. It enables users to obtain market-based pricing data on new and used cars, as well as to connect with its network of TrueCar certified dealers. TrueCar, Inc. is based in Santa Monica, California. “
Several other equities analysts also recently weighed in on TRUE. Stephens set a $18.00 target price on TrueCar and gave the stock a buy rating in a research report on Friday, February 16th. ValuEngine downgraded TrueCar from a sell rating to a strong sell rating in a report on Thursday, March 1st. JPMorgan Chase & Co. downgraded TrueCar from a neutral rating to an underweight rating in a report on Thursday, March 22nd. Benchmark initiated coverage on TrueCar in a report on Thursday, March 22nd. They set a buy rating and a $18.00 target price on the stock. Finally, DA Davidson initiated coverage on TrueCar in a research note on Wednesday, April 4th. They set a neutral rating and a $9.75 price objective for the company. Three equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $14.84.
TrueCar (NASDAQ:TRUE) last posted its quarterly earnings data on Tuesday, May 8th. The technology company reported $0.01 EPS for the quarter, meeting analysts’ consensus estimates of $0.01. TrueCar had a negative return on equity of 8.62% and a negative net margin of 10.69%. The business had revenue of $81.06 million for the quarter, compared to analyst estimates of $81.36 million. During the same quarter last year, the company earned ($0.01) earnings per share. The business’s revenue for the quarter was up 7.0% compared to the same quarter last year. equities analysts predict that TrueCar will post -0.27 EPS for the current year.
A number of institutional investors have recently made changes to their positions in TRUE. Schwab Charles Investment Management Inc. raised its stake in TrueCar by 4.6% during the 4th quarter. Schwab Charles Investment Management Inc. now owns 348,406 shares of the technology company’s stock valued at $3,903,000 after acquiring an additional 15,258 shares in the last quarter. SG Americas Securities LLC raised its stake in TrueCar by 712.9% during the 4th quarter. SG Americas Securities LLC now owns 53,556 shares of the technology company’s stock valued at $600,000 after acquiring an additional 46,968 shares in the last quarter. Quantitative Systematic Strategies LLC bought a new stake in TrueCar during the 4th quarter valued at $190,000. Teacher Retirement System of Texas bought a new stake in shares of TrueCar in the 4th quarter worth $284,000. Finally, Swiss National Bank raised its stake in shares of TrueCar by 8.0% in the 4th quarter. Swiss National Bank now owns 125,800 shares of the technology company’s stock worth $1,409,000 after buying an additional 9,300 shares in the last quarter. 89.79% of the stock is currently owned by hedge funds and other institutional investors.
About TrueCar
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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