.jpg "TrueCar (NASDAQ: TRUE)")
SunTrust Robinson analyst Naved Khan maintained a Hold rating on TrueCar (TRUE) today and set a price target of $9. The company’s shares opened today at $6.81, close to its 52-week low of $5.95.
Khan noted:
“We expect 1Q results (due 5/9, AMC) to come in line with reset expectations following 4Q/guide in mid-Feb. We expect mgt. to provide an update on fixing the SEO traffic issues as well as in honing the company’s newly launched tech platform for consumer experience and conversions. TrueCar saw a slight m/m improvement in March, according to data from comScore while industry-wide new car sales (excl fleet) have seen a softening trend YTD (TRUE). We maintain a Hold/$9 PT into earnings.”
According to TipRanks.com, Khan is a top 100 analyst with an average return of 23.0% and a 77.9% 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 $8.42.
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Based on TrueCar’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $6.39 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.
