TrueCar, Inc. (TRUE) Receives “Neutral” Rating from Goldman Sachs Group, Inc. (The)

Goldman Sachs Group, Inc. (The) reaffirmed their neutral rating on shares of TrueCar, Inc. (NASDAQ:TRUE) in a report published on Wednesday morning. The brokerage currently has a $17.00 target price on the technology company’s stock.

A number of other research analysts also recently issued reports on TRUE. B. Riley reiterated a buy rating and set a $21.00 price objective on shares of TrueCar in a research note on Wednesday, August 9th. Zacks Investment Research downgraded TrueCar from a hold rating to a sell rating in a research note on Friday, October 6th. 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. Royal Bank Of Canada reiterated an outperform rating and set a $23.00 price objective (up from $22.00) on shares of TrueCar in a research note on Thursday, August 10th. Finally, Morgan Stanley upgraded TrueCar from an underweight rating to an equal weight rating and set a $13.00 price objective for the company in a research note on Monday, October 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company. TrueCar presently has a consensus rating of Buy and an average target price of $18.33.

Shares of TrueCar (NASDAQ:TRUE) traded up 1.96% during midday trading on Wednesday, hitting $15.57. 932,288 shares of the stock were exchanged. TrueCar has a 52-week low of $8.69 and a 52-week high of $21.75. The stock’s market cap is $1.53 billion. The firm’s 50 day moving average price is $16.23 and its 200-day moving average price is $17.39.

TrueCar (NASDAQ:TRUE) last announced its quarterly earnings data on Tuesday, August 8th. The technology company reported $0.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.01) by $0.02. The company had revenue of $81.82 million during the quarter, compared to the consensus estimate of $80.75 million. TrueCar had a negative return on equity of 11.00% and a negative net margin of 9.86%. The firm’s revenue was up 23.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.05) EPS. On average, equities research analysts expect that TrueCar will post $0.02 earnings per share for the current fiscal year.

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In related news, EVP Jeff Swart sold 34,863 shares of the business’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $19.82, for a total value of $690,984.66. Following the transaction, the executive vice president now directly owns 99,084 shares of the company’s stock, valued at approximately $1,963,844.88. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP John Pierantoni sold 2,633 shares of the business’s stock in a transaction that occurred on Tuesday, October 3rd. The stock was sold at an average price of $15.87, for a total value of $41,785.71. Following the completion of the transaction, the senior vice president now directly owns 63,027 shares in the company, valued at $1,000,238.49. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,011,936 shares of company stock worth $37,176,200. 15.50% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. lifted its holdings in TrueCar by 15.6% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 5,427 shares of the technology company’s stock worth $108,000 after purchasing an additional 734 shares in the last quarter. BNP Paribas Arbitrage SA raised its holdings in shares of TrueCar by 648.1% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,937 shares of the technology company’s stock worth $158,000 after acquiring an additional 6,876 shares in the last quarter. Sei Investments Co. purchased a new stake in shares of TrueCar during the 1st quarter worth approximately $167,000. North Star Investment Management Corp. purchased a new stake in shares of TrueCar during the 2nd quarter worth approximately $179,000. Finally, SG Americas Securities LLC purchased a new stake in shares of TrueCar during the 1st quarter worth approximately $190,000. 91.71% of the stock is currently owned by institutional investors.

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.

Analyst Recommendations for TrueCar (NASDAQ:TRUE)

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