TrueCar, Inc. (NASDAQ:TRUE) has received an average recommendation of “Hold” from the thirteen brokerages that are covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, five have given a hold rating and five have given a buy rating to the company. The average 1 year price target among brokers that have updated their coverage on the stock in the last year is $16.64.
Several equities analysts recently commented on the stock. Zacks Investment Research raised shares of TrueCar from a “sell” rating to a “hold” rating in a research note on Thursday, January 11th. DA Davidson assumed coverage on shares of TrueCar in a research note on Wednesday, April 4th. They set a “neutral” rating and a $9.75 price objective for the company. JPMorgan Chase cut shares of TrueCar from a “neutral” rating to an “underweight” rating in a research note on Thursday, March 22nd. Stephens set a $18.00 price objective on shares of TrueCar and gave the company a “buy” rating in a research note on Friday, February 16th. Finally, B. Riley reaffirmed a “buy” rating and set a $18.00 price objective on shares of TrueCar in a research note on Wednesday, January 24th.
A number of hedge funds have recently added to or reduced their stakes in TRUE. Senvest Management LLC grew its stake in TrueCar by 72.6% in the 4th quarter. Senvest Management LLC now owns 6,859,792 shares of the technology company’s stock worth $76,830,000 after buying an additional 2,884,407 shares in the last quarter. Ontario Teachers Pension Plan Board grew its stake in TrueCar by 63.6% in the 4th quarter. Ontario Teachers Pension Plan Board now owns 4,500,000 shares of the technology company’s stock worth $50,400,000 after buying an additional 1,750,000 shares in the last quarter. 683 Capital Management LLC purchased a new position in TrueCar in the 4th quarter worth approximately $18,603,000. Harvest Capital Strategies LLC purchased a new position in TrueCar in the 4th quarter worth approximately $10,686,000. Finally, Discovery Capital Management LLC CT purchased a new position in TrueCar in the 4th quarter worth approximately $9,109,000. 88.74% of the stock is owned by institutional investors and hedge funds.
TrueCar (NASDAQ:TRUE) last posted its quarterly earnings results on Thursday, February 15th. The technology company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.04. The company had revenue of $83.13 million for the quarter, compared to analyst estimates of $81.72 million. TrueCar had a negative net margin of 10.16% and a negative return on equity of 8.70%. The company’s quarterly revenue was up 12.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.01) earnings per share. equities analysts expect that TrueCar will post -0.28 EPS for the current year.
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TrueCar Company Profile
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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