TrueCar (NASDAQ:TRUE) has been assigned a $18.00 target price by research analysts at Stephens in a report issued on Friday, February 16th. The brokerage presently has a “buy” rating on the technology company’s stock. Stephens’ price target suggests a potential upside of 65.75% from the company’s current price.
A number of other analysts have also recently commented on the company. B. Riley restated a “buy” rating and issued a $18.00 price objective on shares of TrueCar in a research report on Wednesday, January 24th. Zacks Investment Research cut TrueCar from a “hold” rating to a “strong sell” rating in a research report on Saturday, January 20th. ValuEngine cut TrueCar from a “hold” rating to a “sell” rating in a research report on Tuesday, November 7th. Finally, Royal Bank of Canada cut their price objective on TrueCar from $23.00 to $18.00 and set an “outperform” rating for the company in a research report on Tuesday, November 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $17.56.
Shares of TrueCar (NASDAQ:TRUE) traded down $0.13 during mid-day trading on Friday, reaching $10.86. The company had a trading volume of 1,270,005 shares, compared to its average volume of 1,910,894. The company has a debt-to-equity ratio of 0.09, a quick ratio of 6.41 and a current ratio of 6.41. The stock has a market capitalization of $1,109.16, a PE ratio of -31.03 and a beta of 2.52. TrueCar has a 52 week low of $10.16 and a 52 week high of $21.75.
In other news, SVP John Pierantoni sold 2,494 shares of TrueCar stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $11.29, for a total value of $28,157.26. Following the sale, the senior vice president now directly owns 57,513 shares of the company’s stock, valued at $649,321.77. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Neeraj Gunsagar sold 10,443 shares of TrueCar stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $11.28, for a total value of $117,797.04. Following the completion of the sale, the executive vice president now directly owns 254,144 shares in the company, valued at $2,866,744.32. The disclosure for this sale can be found here. Insiders sold 15,670 shares of company stock worth $177,654 over the last ninety days. Corporate insiders own 15.50% of the company’s stock.
Several large investors have recently modified their holdings of the company. Ameritas Investment Partners Inc. boosted its stake in TrueCar by 15.6% during the second quarter. Ameritas Investment Partners Inc. now owns 5,427 shares of the technology company’s stock worth $108,000 after buying an additional 734 shares during the last quarter. SG Americas Securities LLC acquired a new position in TrueCar during the third quarter worth $104,000. Massey Quick Simon & CO. LLC acquired a new position in TrueCar during the third quarter worth $119,000. Xact Kapitalforvaltning AB acquired a new position in TrueCar during the fourth quarter worth $132,000. Finally, Global Endowment Management LP acquired a new position in TrueCar during the fourth quarter worth $133,000. 89.04% of the stock is currently owned by hedge funds and other institutional investors.
TRADEMARK VIOLATION WARNING: This piece was published by BBNS and is the sole property of of BBNS. If you are accessing this piece on another publication, it was illegally stolen and reposted in violation of US & international copyright and trademark legislation. The correct version of this piece can be read at https://baseballnewssource.com/2018/03/14/truecar-true-pt-set-at-18-00-by-stephens/1890231.html.
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.
Receive News & Ratings for TrueCar Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for TrueCar and related companies with MarketBeat.com's FREE daily email newsletter.