BTIG Research Boosts TrueCar (NASDAQ:TRUE) Price Target to $4.50

TrueCar (NASDAQ:TRUE - Get Free Report) had its price objective boosted by analysts at BTIG Research from $3.75 to $4.50 in a note issued to investors on Tuesday, Benzinga reports. The brokerage presently has a "buy" rating on the technology company's stock. BTIG Research's target price indicates a potential upside of 23.63% from the stock's current price.

Other analysts also recently issued reports about the company. Lake Street Capital initiated coverage on TrueCar in a research note on Monday, October 7th. They issued a "buy" rating and a $6.00 price target on the stock. Needham & Company LLC cut their price target on shares of TrueCar from $4.00 to $3.75 and set a "buy" rating for the company in a report on Tuesday, August 6th.

TrueCar Stock Down 1.4 %

TrueCar stock traded down $0.05 during trading on Tuesday, reaching $3.64. The stock had a trading volume of 86,242 shares, compared to its average volume of 223,271. The stock has a market cap of $330.84 million, a PE ratio of -11.38 and a beta of 1.85. The business has a 50 day moving average price of $3.20 and a 200 day moving average price of $3.10. TrueCar has a 52-week low of $1.76 and a 52-week high of $4.05.

TrueCar (NASDAQ:TRUE - Get Free Report) last released its quarterly earnings results on Monday, August 5th. The technology company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.07) by ($0.02). The company had revenue of $41.80 million for the quarter, compared to analysts' expectations of $43.38 million. TrueCar had a negative return on equity of 14.10% and a negative net margin of 17.63%. On average, equities analysts predict that TrueCar will post -0.28 EPS for the current fiscal year.

Insider Buying and Selling at TrueCar

In other TrueCar news, EVP Jeff Swart sold 20,000 shares of the firm's stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $2.82, for a total transaction of $56,400.00. Following the completion of the transaction, the executive vice president now directly owns 390,600 shares in the company, valued at approximately $1,101,492. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 3.30% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in shares of TrueCar by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 4,276,548 shares of the technology company's stock worth $14,497,000 after purchasing an additional 41,592 shares during the period. Dimensional Fund Advisors LP grew its holdings in TrueCar by 0.8% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,253,582 shares of the technology company's stock valued at $10,183,000 after buying an additional 25,541 shares during the period. Acadian Asset Management LLC grew its holdings in TrueCar by 0.6% in the 2nd quarter. Acadian Asset Management LLC now owns 2,132,154 shares of the technology company's stock valued at $6,671,000 after buying an additional 12,956 shares during the period. Renaissance Technologies LLC increased its stake in shares of TrueCar by 0.3% during the 2nd quarter. Renaissance Technologies LLC now owns 2,123,601 shares of the technology company's stock valued at $6,647,000 after acquiring an additional 6,800 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in shares of TrueCar by 29.1% during the 1st quarter. Russell Investments Group Ltd. now owns 670,470 shares of the technology company's stock worth $2,273,000 after acquiring an additional 151,115 shares during the period. 79.44% of the stock is currently owned by hedge funds and other 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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