TrueCar Inc (TRUE) is Initiated by Loop Capital to Hold, Price Target at $11

TrueCar Inc (TRUE) was Initiated by Loop Capital to “Hold” and the brokerage firm has set the Price Target at $11. Loop Capital advised their investors in a research report released on Aug 11, 2016.

On the company’s financial health, TrueCar Inc reported $-0.05 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $-0.10. The company had revenue of $66.42 million for the quarter, compared to analysts expectations of $65.41 million. The company’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.05 EPS.

TrueCar Inc opened for trading at $10.41 and hit $10.95 on the upside on Monday, eventually ending the session at $10.68, with a gain of 4.40% or 0.45 points. The heightened volatility saw the trading volume jump to 10,23,627 shares. Company has a market cap of $895 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 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.

TrueCar Inc

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