TrueCar (NASDAQ:TRUE) PT Lowered to $4.00

TrueCar (NASDAQ:TRUE) had its price target dropped by research analysts at Needham & Company LLC from $4.50 to $4.00 in a report issued on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s price objective would indicate a potential upside of 49.81% from the company’s previous close.

TrueCar Stock Performance

TRUE traded down $0.09 on Tuesday, hitting $2.67. The company had a trading volume of 94,574 shares, compared to its average volume of 208,013. TrueCar has a 12-month low of $1.76 and a 12-month high of $4.05. The stock has a market capitalization of $244.49 million, a price-to-earnings ratio of -4.77 and a beta of 1.65. The stock has a fifty day moving average price of $3.28 and a 200-day moving average price of $3.08.

TrueCar (NASDAQ:TRUE) last announced its earnings results on Tuesday, February 20th. The technology company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.05. The company had revenue of $41.29 million during the quarter, compared to the consensus estimate of $41.50 million. TrueCar had a negative net margin of 31.36% and a negative return on equity of 24.27%. Analysts forecast that TrueCar will post -0.19 EPS for the current fiscal year.

Insider Transactions at TrueCar

In other TrueCar news, EVP Jeff Swart sold 15,000 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $3.45, for a total value of $51,750.00. Following the completion of the sale, the executive vice president now directly owns 325,044 shares of the company’s stock, valued at approximately $1,121,401.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 3.30% of the company’s stock.

Hedge Funds Weigh In On TrueCar

Large investors have recently modified their holdings of the business. Cannell Capital LLC boosted its position in shares of TrueCar by 2.6% during the 3rd quarter. Cannell Capital LLC now owns 8,441,072 shares of the technology company’s stock worth $17,473,000 after purchasing an additional 216,636 shares during the period. Acadian Asset Management LLC boosted its position in shares of TrueCar by 2.6% during the third quarter. Acadian Asset Management LLC now owns 2,113,950 shares of the technology company’s stock worth $4,374,000 after buying an additional 53,889 shares during the period. Mill Road Capital Management LLC grew its stake in shares of TrueCar by 5.3% in the fourth quarter. Mill Road Capital Management LLC now owns 1,723,800 shares of the technology company’s stock valued at $5,964,000 after buying an additional 86,100 shares in the last quarter. Acuitas Investments LLC grew its stake in shares of TrueCar by 28.3% in the fourth quarter. Acuitas Investments LLC now owns 1,264,272 shares of the technology company’s stock valued at $4,374,000 after buying an additional 279,106 shares in the last quarter. Finally, Boston Partners raised its holdings in shares of TrueCar by 20.9% in the 3rd quarter. Boston Partners now owns 184,751 shares of the technology company’s stock valued at $382,000 after buying an additional 31,898 shares during the period. Institutional investors and hedge funds own 79.44% of the company’s stock.

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.