Shares of TrueCar Inc (NASDAQ:TRUE) have been given a consensus recommendation of “Hold” by the ten ratings firms that are presently covering the stock, Marketbeat reports. Seven equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $5.17.

Several brokerages recently issued reports on TRUE. Needham & Company LLC began coverage on TrueCar in a research note on Friday, August 7th. They set a “hold” rating on the stock. DA Davidson lifted their price objective on TrueCar from $3.00 to $5.25 and gave the stock a “neutral” rating in a research note on Monday, August 10th. Zacks Investment Research raised TrueCar from a “sell” rating to a “hold” rating in a research note on Thursday, August 13th. B. Riley initiated coverage on TrueCar in a research note on Friday, June 19th. They issued a “buy” rating and a $5.00 price objective on the stock. Finally, Craig Hallum raised TrueCar from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $4.00 to $10.00 in a research note on Friday, August 7th.

In other news, EVP Simon Edward Smith sold 10,000 shares of TrueCar stock in a transaction that occurred on Monday, August 31st. The stock was sold at an average price of $4.77, for a total value of $47,700.00. Following the completion of the transaction, the executive vice president now owns 283,660 shares in the company, valued at approximately $1,353,058.20. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In the last quarter, insiders sold 23,457 shares of company stock valued at $105,088. Company insiders own 4.20% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. ProShare Advisors LLC purchased a new position in TrueCar during the 2nd quarter valued at $37,000. Voloridge Investment Management LLC purchased a new position in TrueCar during the 1st quarter valued at $35,000. Atom Investors LP purchased a new position in TrueCar during the 2nd quarter valued at $51,000. Arizona State Retirement System purchased a new position in TrueCar during the 1st quarter valued at $48,000. Finally, GSA Capital Partners LLP purchased a new position in TrueCar during the 1st quarter valued at $54,000. Hedge funds and other institutional investors own 91.83% of the company’s stock.

Shares of TRUE opened at $4.85 on Monday. The business’s 50 day moving average is $4.92 and its 200 day moving average is $3.23. The company has a market capitalization of $523.84 million, a PE ratio of -13.86 and a beta of 1.58. TrueCar has a 12-month low of $1.98 and a 12-month high of $6.47. The company has a current ratio of 6.01, a quick ratio of 6.01 and a debt-to-equity ratio of 0.11.

TrueCar (NASDAQ:TRUE) last issued its earnings results on Thursday, August 6th. The technology company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.11. The company had revenue of $62.69 million for the quarter, compared to the consensus estimate of $55.56 million. TrueCar had a negative return on equity of 5.73% and a negative net margin of 11.76%. The firm’s quarterly revenue was down 28.8% on a year-over-year basis. During the same quarter last year, the company earned ($0.02) EPS. Equities research analysts predict that TrueCar will post -0.3 earnings per share for the current year.

About TrueCar

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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Analyst Recommendations for TrueCar (NASDAQ:TRUE)

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