TrueCar (NASDAQ:TRUE) Price Target Raised to $4.00

TrueCar (NASDAQ:TRUE) had its target price upped by B. Riley from $3.30 to $4.00 in a research report sent to investors on Monday,Benzinga reports. They currently have a neutral rating on the technology company’s stock.

A number of other research firms have also commented on TRUE. Lake Street Capital assumed coverage on shares of TrueCar in a research report on Monday, October 7th. They issued a “buy” rating and a $6.00 price target on the stock. BTIG Research lifted their price target on TrueCar from $3.75 to $4.50 and gave the company a “buy” rating in a report on Tuesday, October 22nd. Finally, Needham & Company LLC dropped their price objective on TrueCar from $4.00 to $3.75 and set a “buy” rating for the company in a report on Tuesday, August 6th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, TrueCar currently has an average rating of “Moderate Buy” and an average price target of $4.56.

TrueCar Price Performance

TRUE stock opened at $4.15 on Monday. The firm has a fifty day moving average price of $3.54 and a two-hundred day moving average price of $3.21. The firm has a market cap of $360.88 million, a price-to-earnings ratio of -14.76 and a beta of 1.83. TrueCar has a 1-year low of $2.51 and a 1-year high of $4.53.

TrueCar (NASDAQ:TRUE) last released its quarterly earnings results on Wednesday, November 6th. The technology company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.03). TrueCar had a negative return on equity of 14.33% and a negative net margin of 15.88%. The firm had revenue of $46.54 million for the quarter, compared to the consensus estimate of $45.82 million. During the same quarter in the prior year, the company posted ($0.07) EPS. As a group, analysts expect that TrueCar will post -0.3 EPS for the current fiscal year.

Insiders Place Their Bets

In other TrueCar news, EVP Jeff Swart sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $2.82, for a total transaction of $56,400.00. Following the completion of the transaction, the executive vice president now owns 390,600 shares of the company’s stock, valued at $1,101,492. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 3.30% of the company’s stock.

Institutional Trading of TrueCar

Several large investors have recently bought and sold shares of TRUE. BNP Paribas Financial Markets grew its stake in TrueCar by 35.4% in the first quarter. BNP Paribas Financial Markets now owns 70,820 shares of the technology company’s stock valued at $240,000 after acquiring an additional 18,501 shares during the period. Russell Investments Group Ltd. grew its position in TrueCar by 29.1% during the first quarter. Russell Investments Group Ltd. now owns 670,470 shares of the technology company’s stock worth $2,273,000 after buying an additional 151,115 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of TrueCar by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 4,276,548 shares of the technology company’s stock worth $14,497,000 after purchasing an additional 41,592 shares in the last quarter. Hillsdale Investment Management Inc. purchased a new position in shares of TrueCar in the 1st quarter worth about $152,000. Finally, Lazard Asset Management LLC purchased a new stake in TrueCar during the 1st quarter valued at about $43,000. 79.44% of the stock is owned by institutional investors and hedge funds.

TrueCar Company Profile

TrueCar, Inc 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. Its platform enables users to obtain market-based pricing data on new and used cars, and to connect with its network of TrueCar certified dealers.