TrueCar, Inc. (TRUE) Rating Reiterated by Royal Bank Of Canada

Royal Bank Of Canada reaffirmed their outperform rating on shares of TrueCar, Inc. (NASDAQ:TRUE) in a research report released on Thursday. The firm currently has a $23.00 target price on the technology company’s stock, up from their prior target price of $22.00.

Several other brokerages have also issued reports on TRUE. Zacks Investment Research lowered shares of TrueCar from a buy rating to a hold rating in a research note on Thursday, July 13th. Morgan Stanley reissued an underweight rating and issued a $13.00 price objective (up previously from $12.00) on shares of TrueCar in a research report on Thursday, July 20th. B. Riley reissued a buy rating and issued a $21.00 price objective on shares of TrueCar in a research report on Wednesday. TheStreet raised shares of TrueCar from a d rating to a c rating in a research report on Monday, May 15th. Finally, Craig Hallum lifted their price objective on shares of TrueCar from $20.00 to $23.00 and gave the company a buy rating in a research report on Wednesday, May 10th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the stock. TrueCar has an average rating of Buy and an average target price of $18.56.

TrueCar (NASDAQ TRUE) traded up 1.27% during midday trading on Thursday, reaching $15.94. 1,785,109 shares of the company’s stock were exchanged. The company’s market cap is $1.57 billion. The firm has a 50-day moving average price of $19.51 and a 200 day moving average price of $16.69. TrueCar has a 52 week low of $8.09 and a 52 week high of $21.75.

TrueCar (NASDAQ:TRUE) last issued its quarterly earnings results on Tuesday, August 8th. The technology company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.02. TrueCar had a negative net margin of 9.86% and a negative return on equity of 11.83%. The firm had revenue of $81.82 million for the quarter, compared to analyst estimates of $80.75 million. During the same period in the previous year, the business earned ($0.05) EPS. The company’s revenue was up 23.2% compared to the same quarter last year.

ILLEGAL ACTIVITY WARNING: “TrueCar, Inc. (TRUE) Rating Reiterated by Royal Bank Of Canada” was originally posted by Sports Perspectives and is the sole property of of Sports Perspectives. If you are accessing this article on another domain, it was copied illegally and republished in violation of international copyright & trademark laws. The correct version of this article can be read at https://sportsperspectives.com/2017/08/12/truecar-inc-true-rating-reiterated-by-royal-bank-of-canada.html.

In other news, CFO Michael Guthrie sold 290,052 shares of the business’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $18.66, for a total value of $5,412,370.32. Following the completion of the transaction, the chief financial officer now directly owns 390,467 shares in the company, valued at approximately $7,286,114.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Neeraj Gunsagar sold 158,160 shares of the business’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $19.30, for a total transaction of $3,052,488.00. Following the completion of the transaction, the executive vice president now owns 363,655 shares of the company’s stock, valued at $7,018,541.50. The disclosure for this sale can be found here. Insiders sold a total of 1,513,149 shares of company stock valued at $28,870,907 over the last 90 days. Corporate insiders own 17.30% of the company’s stock.

Several institutional investors have recently modified their holdings of TRUE. State Street Corp boosted its position in shares of TrueCar by 5.8% in the fourth quarter. State Street Corp now owns 971,760 shares of the technology company’s stock valued at $12,152,000 after buying an additional 53,212 shares during the last quarter. AQR Capital Management LLC boosted its position in shares of TrueCar by 22.5% in the fourth quarter. AQR Capital Management LLC now owns 38,782 shares of the technology company’s stock valued at $485,000 after buying an additional 7,119 shares during the last quarter. Teachers Advisors LLC boosted its position in shares of TrueCar by 5.7% in the fourth quarter. Teachers Advisors LLC now owns 92,822 shares of the technology company’s stock valued at $1,160,000 after buying an additional 5,030 shares during the last quarter. Columbus Circle Investors purchased a new position in shares of TrueCar during the first quarter valued at approximately $4,372,000. Finally, Profund Advisors LLC boosted its position in shares of TrueCar by 3.7% in the first quarter. Profund Advisors LLC now owns 46,907 shares of the technology company’s stock valued at $726,000 after buying an additional 1,667 shares during the last quarter. Institutional investors own 83.72% of the company’s stock.

About TrueCar

TrueCar, Inc is an Internet-based information, technology, and communication services company. The Company has a data-driven online platform, which features market data and analytics. The Company-branded platform is available on its TrueCar Website and mobile applications. 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 a range of enterprises.

Analyst Recommendations for TrueCar (NASDAQ:TRUE)

Receive News & Ratings for TrueCar Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TrueCar Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply