Goldman Sachs Group, Inc. (The) reaffirmed their neutral rating on shares of TrueCar, Inc. (NASDAQ:TRUE) in a research report sent to investors on Wednesday morning, MarketBeat Ratings reports. Goldman Sachs Group, Inc. (The) currently has a $17.00 target price on the technology company’s stock.
TRUE has been the subject of several other research reports. B. Riley reissued a buy rating and issued a $21.00 price target on shares of TrueCar in a research note on Saturday, August 26th. Morgan Stanley reissued an underweight rating and issued a $13.00 price target (up previously from $12.00) on shares of TrueCar in a research note on Thursday, July 20th. Royal Bank Of Canada reissued an outperform rating and issued a $23.00 price target (up previously from $22.00) on shares of TrueCar in a research note on Thursday, August 10th. Cowen and Company reissued a hold rating and issued a $15.00 price target on shares of TrueCar in a research note on Thursday, August 17th. Finally, Zacks Investment Research cut TrueCar from a buy rating to a hold rating in a research note on Thursday, July 13th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of Buy and a consensus target price of $18.33.
Shares of TrueCar (NASDAQ TRUE) traded down 0.84% during trading on Wednesday, reaching $15.35. The company’s stock had a trading volume of 745,959 shares. TrueCar has a 12 month low of $9.04 and a 12 month high of $21.75. The firm’s market cap is $1.51 billion. The company’s 50 day moving average price is $16.18 and its 200 day moving average price is $17.38.
TrueCar (NASDAQ:TRUE) last issued its quarterly earnings results on Tuesday, August 8th. The technology company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.01) by $0.02. The company had revenue of $81.82 million during the quarter, compared to analysts’ expectations of $80.75 million. TrueCar had a negative return on equity of 11.00% and a negative net margin of 9.86%. The business’s quarterly revenue was up 23.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.05) earnings per share. On average, equities analysts predict that TrueCar will post $0.02 earnings per share for the current year.
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In other news, SVP John Pierantoni sold 55,895 shares of the firm’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $19.81, for a total value of $1,107,279.95. Following the transaction, the senior vice president now owns 125,767 shares in the company, valued at $2,491,444.27. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Jeff Swart sold 34,863 shares of the firm’s stock in a transaction that occurred on Wednesday, July 26th. The shares were sold at an average price of $19.82, for a total value of $690,984.66. Following the completion of the transaction, the executive vice president now owns 99,084 shares in the company, valued at approximately $1,963,844.88. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,011,936 shares of company stock worth $37,176,200. Corporate insiders own 15.50% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Ameritas Investment Partners Inc. lifted its holdings in shares of TrueCar by 15.6% in the second quarter. Ameritas Investment Partners Inc. now owns 5,427 shares of the technology company’s stock valued at $108,000 after purchasing an additional 734 shares in the last quarter. BNP Paribas Arbitrage SA lifted its holdings in shares of TrueCar by 648.1% in the second quarter. BNP Paribas Arbitrage SA now owns 7,937 shares of the technology company’s stock valued at $158,000 after purchasing an additional 6,876 shares in the last quarter. North Star Investment Management Corp. bought a new position in shares of TrueCar in the second quarter valued at approximately $179,000. Great West Life Assurance Co. Can lifted its holdings in shares of TrueCar by 185.6% in the second quarter. Great West Life Assurance Co. Can now owns 10,576 shares of the technology company’s stock valued at $210,000 after purchasing an additional 6,873 shares in the last quarter. Finally, Sei Investments Co. bought a new position in shares of TrueCar in the first quarter valued at approximately $167,000. Institutional investors own 91.71% of the company’s stock.
TrueCar Company Profile
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.
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