Somewhat Favorable News Coverage Somewhat Unlikely to Affect TrueCar (TRUE) Stock Price
News stories about TrueCar (NASDAQ:TRUE) have trended somewhat positive this week, according to Accern Sentiment Analysis. The research firm ranks the sentiment of media coverage by monitoring more than twenty million news and blog sources. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. TrueCar earned a daily sentiment score of 0.13 on Accern’s scale. Accern also assigned news headlines about the technology company an impact score of 44.9514518190198 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the company’s share price in the next few days.
These are some of the news headlines that may have effected Accern Sentiment Analysis’s analysis:
- TrueCar, Inc. (TRUE) Receives Average Recommendation of “Buy” from Brokerages (americanbankingnews.com)
- A Technical Strategy for TrueCar, Inc. (TRUE), FormFactor, Inc. (FORM) – AllStockNews (allstocknews.com)
- Harvey will lead to a surge in car sales once insurance checks arrive – MarketWatch (marketwatch.com)
- TrueCar Inc (TRUE) Seeing Increased Action in Session – FLBC News (flbcnews.com)
A number of analysts recently issued reports on TRUE shares. Craig Hallum boosted their price objective on TrueCar from $20.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, May 10th. Royal Bank Of Canada reiterated a “buy” rating and set a $22.00 price objective on shares of TrueCar in a research note on Friday, August 4th. B. Riley reiterated a “buy” rating and set a $21.50 price objective on shares of TrueCar in a research note on Tuesday, May 2nd. Zacks Investment Research lowered TrueCar from a “buy” rating to a “hold” rating in a research note on Thursday, July 13th. Finally, Cowen and Company reiterated a “hold” rating and set a $15.00 price objective on shares of TrueCar in a research note on Thursday, August 17th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $18.56.
TrueCar (TRUE) traded up 0.84% during trading on Wednesday, reaching $16.88. The company had a trading volume of 318,069 shares. TrueCar has a one year low of $8.09 and a one year high of $21.75. The firm’s market capitalization is $1.66 billion. The firm’s 50-day moving average price is $18.73 and its 200 day moving average price is $16.93.
TrueCar (NASDAQ:TRUE) last released its quarterly earnings results on Tuesday, August 8th. The technology company reported $0.01 earnings per share for the quarter, topping 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 11.00%. The firm had revenue of $81.82 million during the quarter, compared to the consensus estimate of $80.75 million. During the same quarter in the prior year, the firm earned ($0.05) EPS. The company’s revenue for the quarter was up 23.2% on a year-over-year basis. Equities analysts forecast that TrueCar will post $0.02 earnings per share for the current fiscal year.
In related news, Director John Krafcik sold 10,000 shares of the company’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $16.50, for a total transaction of $165,000.00. Following the completion of the transaction, the director now owns 61,678 shares in the company, valued at approximately $1,017,687. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Ion Yadigaroglu sold 52,369 shares of the company’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $16.38, for a total transaction of $857,804.22. Following the transaction, the director now owns 19,539 shares of the company’s stock, valued at approximately $320,048.82. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,804,449 shares of company stock valued at $33,658,278. Insiders own 15.50% 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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