TrueCar (NASDAQ:TRUE) Releases Quarterly Earnings Results, Misses Expectations By $0.01 EPS

TrueCar (NASDAQ:TRUE) announced its quarterly earnings data on Tuesday. The technology company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.06) by ($0.01), Zacks reports. TrueCar had a negative return on equity of 14.33% and a negative net margin of 15.88%.

TrueCar Trading Down 2.4 %

Shares of TRUE stock opened at $3.26 on Wednesday. The stock has a 50-day moving average price of $3.63 and a 200 day moving average price of $3.56. TrueCar has a 12 month low of $2.56 and a 12 month high of $4.62.

Analyst Ratings Changes

A number of brokerages have issued reports on TRUE. BTIG Research lifted their price objective on TrueCar from $3.75 to $4.50 and gave the company a “buy” rating in a report on Tuesday, October 22nd. StockNews.com raised TrueCar from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. B. Riley lifted their price target on TrueCar from $3.30 to $4.00 and gave the company a “neutral” rating in a report on Monday, November 11th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $5.00 price target on shares of TrueCar in a report on Wednesday, January 15th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $4.88.

About TrueCar

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.