TrueCar Inc (TRUE) reported quarterly earnings results on Thursday, May-5-2016. The company reported $-0.07 EPS for the quarter. Analysts had a consensus estimate of $-0.07. The company posted revenue of $61.86 million in the period, compared to analysts expectations of $61.12 million. The company’s revenue was up 5.7% compared to the same quarter last year.
Many Wall Street Analysts have commented on TrueCar Inc. Topeka Capital Markets Initiated TrueCar Inc on Apr 5, 2016 to “Hold”, Price Target of the shares are set at $6.TrueCar Inc was Downgraded by JMP Securities to ” Mkt Perform” on Feb 19, 2016. Shares were Reiterated by RBC Capital Mkts on Feb 19, 2016 to “Sector Perform” and Lowered the Price Target to $ 6 from a previous price target of $10 .
TrueCar Inc opened for trading at $6.12 and hit $6.63 on the upside on Wednesday, eventually ending the session at $6.42, with a gain of 4.56% or 0.28 points. The heightened volatility saw the trading volume jump to 10,38,923 shares. Company has a market cap of $536 M.
In a different news, on Mar 11, 2016, Christopher W Claus (director) purchased 5,000 shares at $5.70 per share price. According to the SEC, on Nov 25, 2015, Bernard Brenner (EVP, Business Development) sold 15,000 shares at $8.77 per share price. On Aug 12, 2015, John Pierantoni (SVP, Chief Accounting Officer) purchased 5,000 shares at $5.66 per share price, according to the Form-4 filing with the securities and exchange commission.
TrueCar Inc. (TrueCar) is a data-driven online platform operating on a common technology infrastructure powered by data and analytics. The Company operates its Company-branded platform on its TrueCar.com Website. In addition it customizes and operates its platform on a co-branded basis for its affinity group marketing partners including financial institutions such as USAA and American Express; membership-based organizations such as Consumer Reports AARP and AAA and employee buying programs for enterprises such as IBM and Walmart. The Company enables users to obtain market-based pricing data on new and used cars and to connect with its network of TrueCar Certified Dealers. It also allows automobile manufacturers known in the industry as original equipment manufacturers (OEMs) to connect with TrueCar users in the purchase process.