TrueCar (NASDAQ:TRUE – Free Report) had its target price cut by Needham & Company LLC from $4.50 to $4.00 in a research note issued to investors on Tuesday morning, Benzinga reports. They currently have a buy rating on the technology company’s stock.
TrueCar Trading Down 1.0 %
Shares of TrueCar stock opened at $2.85 on Tuesday. The business’s fifty day simple moving average is $3.23 and its 200 day simple moving average is $3.08. TrueCar has a 12 month low of $1.76 and a 12 month high of $4.05. The firm has a market capitalization of $260.99 million, a P/E ratio of -7.13 and a beta of 1.71.
TrueCar (NASDAQ:TRUE – Get Free Report) last announced its earnings results on Tuesday, February 20th. The technology company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.07) by $0.05. The firm had revenue of $41.29 million during the quarter, compared to analyst estimates of $41.50 million. TrueCar had a negative return on equity of 17.12% and a negative net margin of 22.15%. Analysts predict that TrueCar will post -0.19 EPS for the current fiscal year.
Insider Buying and Selling
Hedge Funds Weigh In On TrueCar
A number of large investors have recently modified their holdings of TRUE. SG Americas Securities LLC bought a new stake in TrueCar during the 3rd quarter worth approximately $83,000. Principal Financial Group Inc. bought a new position in shares of TrueCar in the third quarter worth $27,000. Boston Partners raised its position in shares of TrueCar by 20.9% in the third quarter. Boston Partners now owns 184,751 shares of the technology company’s stock worth $382,000 after buying an additional 31,898 shares in the last quarter. Acadian Asset Management LLC boosted its stake in TrueCar by 2.6% during the third quarter. Acadian Asset Management LLC now owns 2,113,950 shares of the technology company’s stock valued at $4,374,000 after buying an additional 53,889 shares during the period. Finally, SkyView Investment Advisors LLC grew its position in TrueCar by 5.5% during the third quarter. SkyView Investment Advisors LLC now owns 127,658 shares of the technology company’s stock worth $264,000 after buying an additional 6,680 shares in the last quarter. 79.44% of the stock is currently owned by institutional investors.
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.
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