TrueCar (NASDAQ:TRUE) Given New $4.00 Price Target at B. Riley

TrueCar (NASDAQ:TRUE - Free Report) had its price target raised by B. Riley from $3.30 to $4.00 in a research note published on Monday morning,Benzinga reports. B. Riley currently has a neutral rating on the technology company's stock.

Several other research firms have also issued reports on TRUE. Lake Street Capital started coverage on TrueCar in a research report on Monday, October 7th. They set a "buy" rating and a $6.00 target price for the company. BTIG Research upped their price objective on TrueCar from $3.75 to $4.50 and gave the stock a "buy" rating in a research note on Tuesday, October 22nd. Finally, Needham & Company LLC dropped their price objective on TrueCar from $4.00 to $3.75 and set a "buy" rating on the stock in a research note on Tuesday, August 6th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, TrueCar presently has a consensus rating of "Moderate Buy" and an average price target of $4.56.

TrueCar Trading Up 6.1 %

Shares of TrueCar stock traded up $0.25 during trading on Monday, reaching $4.37. The company's stock had a trading volume of 265,104 shares, compared to its average volume of 235,734. The stock has a 50-day moving average price of $3.48 and a two-hundred day moving average price of $3.19. TrueCar has a one year low of $2.43 and a one year high of $4.53. The stock has a market capitalization of $397.19 million, a P/E ratio of -14.14 and a beta of 1.83.

TrueCar (NASDAQ:TRUE - Get Free Report) last announced its quarterly earnings data on Wednesday, November 6th. The technology company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.03). The firm had revenue of $46.54 million for the quarter, compared to the consensus estimate of $45.82 million. TrueCar had a negative return on equity of 13.73% and a negative net margin of 15.88%. During the same period in the prior year, the firm posted ($0.07) earnings per share. As a group, sell-side analysts anticipate that TrueCar will post -0.3 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 company's stock in a transaction on Wednesday, August 21st. The shares were sold at an average price of $2.82, for a total value of $56,400.00. Following the transaction, the executive vice president now directly owns 390,600 shares in the company, valued at $1,101,492. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 3.30% of the company's stock.

Hedge Funds Weigh In On TrueCar

Large investors have recently made changes to their positions in the company. Intech Investment Management LLC bought a new stake in TrueCar in the 3rd quarter valued at $36,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of TrueCar during the third quarter worth $43,000. Lazard Asset Management LLC bought a new stake in shares of TrueCar in the first quarter valued at about $43,000. SG Americas Securities LLC grew its stake in shares of TrueCar by 126.5% in the third quarter. SG Americas Securities LLC now owns 34,644 shares of the technology company's stock valued at $120,000 after acquiring an additional 19,349 shares in the last quarter. Finally, Hillsdale Investment Management Inc. acquired a new position in shares of TrueCar in the first quarter valued at about $152,000. Institutional investors own 79.44% of the company's stock.

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.