.jpg "TrueCar (NASDAQ: TRUE)")
In a report released today, Naved Khan from SunTrust Robinson maintained a Hold rating on TrueCar (TRUE), with a price target of $8. The company’s shares opened today at $6.62, close to its 52-week low of $5.61.
Khan said:
“We’re maintaining a Hold rating as we await signs of traction on the growth initiatives. 1Q Earnings Recap. TRUE reported revenue/Adj. EBITDA of $85.6M (+9.6% Y/Y) /$5.1M, above consensus of $85.0M/$4.4M and fairly in-line with management outlook of $84-86M/$3-5M. We note that Science contributed ~$2.4M in revenue in 1Q.”
According to TipRanks.com, Khan is a 5-star analyst with an average return of 21.2% and a 69.5% success rate. Khan covers the Technology sector, focusing on stocks such as Endurance International, Wix.com Ltd, and trivago NV.
Currently, the analyst consensus on TrueCar is a Hold with an average price target of $8.21, implying a 24.0% upside from current levels. In a report issued on May 10, B.Riley FBR also initiated coverage with a Hold rating on the stock with a $7.50 price target.
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Based on TrueCar’s latest earnings release for the quarter ending March 31, the company reported a quarterly GAAP net loss of $14.37 million. In comparison, last year the company had a GAAP net loss of $9.06 million.
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TrueCar, Inc. engages in the operation of data-driven online platform which provides dealers and automakers with automobile information. It provides pricing transparency about what other people paid for their cars. The company products include Used Cars for Sale, Sell My Car, Local Pricing, and Lease a Car.
