Morgan Stanley Downgrades TrueCar Inc to Underweight with Price Target $6.40

Brokerage firm Morgan Stanley Downgrades its rating on TrueCar Inc(NASDAQ:TRUE). In a research note issued to the investors, the brokerage major Raises the price-target to $6.40 per share. The shares have been rated Underweight. Previously, the analysts had a Equal-weight rating on the shares. The rating by Morgan Stanley was issued on Sep 12, 2016.

In a different note, On Aug 30, 2016, B. Riley said it Upgrades its rating on TrueCar Inc. The shares have been rated ‘Neutral’ by the firm. Loop Capital said it Initiates Coverage on TrueCar Inc, according to a research note issued on Aug 11, 2016. The shares have been rated ‘Hold’ by the firm.

TrueCar Inc (TRUE) shares turned negative on Tuesdays trading session with the shares closing down -0.1 points or -1.14% at a volume of 5,29,477. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $8.81. The peak price level was also seen at $8.81 while the days lowest was $8.62. Finally the shares closed at $8.7. The 52-week high of the shares is $11.13 while the 52-week low is $4.418. According to the latest information available, the market cap of the company is $736 M.

TrueCar Inc(TRUE) last announced its earnings results on Aug 4, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $66.43M. Analysts had an estimated revenue of $65.52M. Earnings per share were $-0.05. Analysts had estimated an EPS of $-0.10.

Several Insider Transactions has been reported to the SEC. On Aug 11, 2016, John Krafcik (director) sold 16,541 shares at $10.68 per share price.Also, On Mar 11, 2016, Christopher W Claus (director) purchased 5,000 shares at $5.70 per share price.On Nov 25, 2015, Bernard Brenner (EVP, Business Development) sold 15,000 shares at $8.77 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.

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