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TRUE $3.44

TRUE target price
3.44
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TrueCar
Type
Public
Traded as NASDAQ: TRUE
Industry Technology
Founded 2005
Headquarters Santa Monica, California
Key people
Chip Perry (CEO)
Scott Painter (founder)
Products Pricing and information for new and used cars
Number of employees
500
Website www.truecar.com

TrueCar, Inc. is an automotive pricing and information website for new and used car buyers and dealers. TrueCar is paid by dealerships so they can obtain potential buyers' contact information. Potential car buyers receive an online report illustrating what others have paid for cars, illustrative pricing from a network of TrueCar Certified Dealers. TrueCar reports its users have purchased more than 2 million cars from dealers in its network. The company is headquartered in Santa Monica, California, and its network includes around 10,000 automobile dealers in the United States.

TrueCar's "massive up-to-the-minute database of selling prices" is an example of big data at the petabyte level and is run on Apache Hadoop.

TrueCar was originally incorporated under the name "Zag.com Inc." in Delaware in February 2005. Scott Painter, along with several co-founders, including Tom Taira and Jim Nguyen operated the business primarily as a provider of “white-labeled” auto-buying programs for affinity groups. Within the Zag.com environment, the concepts of price confidence using data and analytics presented in an easy-to-digest form was incubated and launched in a separate company, TrueCar.com. The TrueCar concept involved gathering data from a number of different sources in order to compile updated vehicle prices for consumers in an attempt to enhance Zag.com's services. Ultimately, the two entities were combined to form TrueCar, Inc.

TrueCar ranked 11th on the L.A. Business (LAB) annual list of the 100 Fastest Growing Private Companies in Los Angeles, and Inc. Magazine ranked TrueCar on its 2010 list of Fastest Growing Companies in America.

In January 2011, TrueCar released ClearBook.com, a used vehicle index that analyzes the used car market. The website provides users with prices based on market data.

In August 2011, TrueCar raised $200 million in debt and equity financing, and purchased ALG, a company that provides information on future residual values of vehicles, for an estimated $83 million. TrueCar later hired Larry Dominique, former vice president of product planning at Nissan, to run its ALG business and work with auto manufacturers. Additional 2011 deals included the acquisition of News Corp-backed Honk.com in May.

In late 2011, TrueCar launched a television advertising campaign with commercials promoting its services. Shortly thereafter, TrueCar faced backlash from the automotive industry, when several state agencies and regulators notified TrueCar that its practices were noncompliant with some state laws. In response to those notices, TrueCar overhauled its pricing structure, and moved from a pay-per-sale model to a subscription model for dealers in some states.

In 2013, about 400,000 vehicles were sold from TrueCar and TrueCar Certified Dealers. In 2014, more than 611,000 new and used vehicles were purchased at TrueCar Certified Dealerships. TrueCar had a hand in 3.9% of U.S. new car retail sales in 2014. As of October 2015, TrueCar had more than 10,000 dealerships in its network.

In February 2014, TrueCar acquired the domain True.com, using the site as an umbrella domain name. On May 16, 2014, TrueCar became a publicly traded company and is listed on the NASDAQ under the ticker, NASDAQ: TRUE. TrueCar successfully completed a secondary offering in November 2014 worth approximately $125 million.

Painter stepped down as CEO of TrueCar in December 2015. He was replaced by Chip Perry.

In its 2008 Series A round of venture funding, TrueCar raised $2.8 million from Zag's original investors. It received $8.1 million in Series B investments from Capital One and Anthem Venture Partners and TrueCar raised another $35.5 million in 2010.

In September 2011, TrueCar raised $200 million in funding from USAA, GRP Partners, Keating Capital, Silicon Valley Bank and Capricorn Investment Group.

Truecar raised $30 million from Vulcan Capital in December 2013. As of 2013, the company has raised over $200 million in financing since its founding in 2005.

TrueCar launched the first all-female racing team in 2012, with support from Penske Media Corporation and Dragon Racing. The companies sponsored the women in six racing series, including IndyCar, Global MX-5 Cup, Star Mazda, USF2000, World Challenge and Rally America. In June 2012, The Virgin Group announced its partnership in support of TrueCar's "Women Empowered" initiative.

TrueCar powers car-buying programs for approximately 576 brands. TrueCar’s Affinity Partners include USAA, Sam's Club, Consumer Reports, AAA, American Express, Geico and Farmers.

Q reports

Period Date Adjusted Actuals EPS GAAP EPS
Q3 2022 2022-11-01 Future report Set alerts
Q2 2022 2022-08-02 -0.07 -0.07
Q1 2022 2022-05-09 -0.10 -0.10
Q4 2021 2022-02-22 -0.07 -0.07
Q3 2021 2021-11-03 0.00 0.00
Q2 2021 2021-08-05 0.00 0.00
Q1 2021 2021-05-06 0.00 0.00
Q4 2020 2021-02-24 -0.01 -0.01
Q3 2020 2020-11-05 0.14 0.00
Q2 2020 2020-08-06 0.04 -0.10

Ratings

2016-06-06 Reiterated Rating JMP Securities Hold
2016-05-12 Reiterated Rating B. Riley Sell $3.50
2016-05-09 Reiterated Rating Cowen and Company Market Perform $4.00 to $5.00
2016-05-08 Reiterated Rating Morgan Stanley Hold
2016-05-06 Reiterated Rating B. Riley Sell $3.50
2016-05-06 Reiterated Rating RBC Capital Hold $6.00
2016-05-06 Reiterated Rating Royal Bank Of Canada Hold $6.00
2016-04-08 Reiterated Rating B. Riley Sell $3.50
2016-04-04 Initiated Coverage Topeka Capital Markets Hold $6.00
2016-04-03 Reiterated Rating B. Riley Sell $3.50
2016-03-29 Reiterated Rating B. Riley Sell $3.50
2016-03-03 Reiterated Rating B. Riley Sell $3.60
2016-02-24 Reiterated Rating B. Riley Sell $3.50
2016-02-20 Reiterated Rating Cowen and Company Hold
2016-02-20 Reiterated Rating JPMorgan Chase & Co. Hold
2016-02-19 Lower Price Target B. Riley Neutral $4.00 to $3.50
2016-02-19 Lower Price Target JPMorgan Chase & Co. Neutral $10.00 to $6.00
2016-02-19 Lower Price Target Cowen and Company Market Perform $7.00 to $4.00
2016-02-19 Downgrade JMP Securities Outperform to Market Perform
2016-02-19 Reiterated Rating RBC Capital Sector Perform $10.00 to $6.00
2016-01-11 Reiterated Rating B. Riley Sell $4.00
2016-01-06 Reiterated Rating B. Riley Sell $4.00
2015-12-08 Reiterated Rating B. Riley Sell $4.00
2015-12-03 Reiterated Rating B. Riley Sell $4.00
2015-11-24 Reiterated Rating Cowen and Company Market Perform $7.00
2015-11-11 Reiterated Rating B. Riley Sell $4.00
2015-11-06 Lower Price Target JPMorgan Chase & Co. Neutral $12.00 to $10.00
2015-11-06 Boost Price Target JMP Securities Market Outperform $9.00 to $11.00
2015-11-06 Boost Price Target Cowen and Company Market Perform $6.00 to $7.00
2015-11-06 Boost Price Target RBC Capital Sector Perform $9.00 to $10.00
2015-11-06 Reiterated Rating B. Riley Sell $4.00
2015-08-12 Reiterated Rating B. Riley Sell $4.00
2015-08-09 Reiterated Rating RBC Capital Sector Perform $9.00
2015-08-07 Reiterated Rating Cowen and Company Market Perform $8.00 to $6.00
2015-08-07 Reiterated Rating B. Riley Sell $4.00
2015-07-29 Reiterated Rating B. Riley Sell $5.50
2015-07-24 Lower Price Target Cowen and Company Market Perform $14.00 to $8.00
2015-07-24 Downgrade Craig Hallum Buy to Hold $18.00 to $8.00
2015-07-24 Downgrade Stephens Overweight to Equal Weight $23.00 to $9.00
2015-07-24 Downgrade JPMorgan Chase & Co. Overweight to Neutral $23.00 to $12.00
2015-07-24 Downgrade Goldman Sachs Buy to Neutral $8.00
2015-07-24 Downgrade RBC Capital Outperform to Sector Perform $23.00 to $9.00
2015-07-24 Reiterated Rating B. Riley Sell $9.25
2015-07-24 Downgrade Goldman Sachs Group Inc. Buy to Neutral $8.00
2015-07-15 Reiterated Rating B. Riley Sell $9.25
2015-07-14 Initiated Coverage Morgan Stanley Equal to Equal Weight $11.50
2015-07-10 Reiterated Rating Cowen and Company Market Perform $19.00 to $14.00
2015-07-10 Reiterated Rating RBC Capital Outperform $23.00
2015-07-10 Reiterated Rating B. Riley Sell $9.25
2015-05-23 Reiterated Rating Cowen and Company Market Perform $19.00
2015-05-21 Lower Price Target JMP Securities Market Outperform $24.00 to $17.00
2015-05-21 Reiterated Rating B. Riley Sell $10.00
2015-05-06 Reiterated Rating B. Riley Sell $10.00
2015-05-05 Set Price Target RBC Capital Buy $23.00
2015-04-27 Upgrade Goldman Sachs Neutral to Buy $22.00
2015-04-10 Initiated Coverage Stephens Overweight
2015-04-09 Initiated Coverage Wunderlich Hold $16.00
2015-04-01 Initiated Coverage B. Riley Sell $10.00
2015-03-05 Reiterated Rating JMP Securities Buy
2015-02-20 Boost Price Target Jefferies Group Market Outperform $23.00 to $24.00
2015-02-20 Boost Price Target JPMorgan Chase & Co. Overweight $22.00 to $23.00
2015-02-02 Initiated Coverage Craig Hallum Buy
2014-11-20 Upgrade RBC Capital Sector Perform to Outperform $18.00 to $23.00
2014-11-18 Boost Price Target JMP Securities Market Outperform $21.00 to $23.00
2014-11-06 Reiterated Rating JPMorgan Chase & Co. Overweight $20.00 to $22.00
2014-08-08 Boost Price Target JMP Securities $20.00 to $21.00
2014-08-08 Boost Price Target JPMorgan Chase & Co. $19.00 to $20.00
2014-08-08 Boost Price Target Cowen and Company $21.00 to $22.00
2014-08-08 Boost Price Target RBC Capital Sector Perform $17.00 to $18.00
2014-06-10 Initiated Coverage Cowen and Company Outperform $21.00
2014-06-10 Initiated Coverage Goldman Sachs Neutral $15.00
2014-06-10 Initiated Coverage JMP Securities Outperform $20.00
2014-06-10 Initiated Coverage RBC Capital Sector Perform $17.00
2014-06-10 Initiated Coverage JPMorgan Chase & Co. Overweight $19.00
2016-06-06 Reiterated Rating JMP Securities Hold
2016-05-12 Reiterated Rating B. Riley Sell $3.50
2016-05-09 Reiterated Rating Cowen and Company Market Perform $4.00 to $5.00
2016-05-08 Reiterated Rating Morgan Stanley Hold
2016-05-06 Reiterated Rating B. Riley Sell $3.50

There is presents forecasts of rating agencies and recommendations for investors about this ticker

Major Shareholders

Name Relationship Total Shares Holding stocks
Painter Scott CEO & Chairman of the Board 2.65%  (2040476) TRUE /
Perry Victor A III President & CEO 0.95%  (729595) TRUE /
Brenner Bernard EVP, Business Development 0.54%  (417720) TRUE /
Guthrie Michael Chief Financial Officer 0.41%  (314024) TRUE /
Stephenson John EVP & Chief Risk Mgmt Officer 0.30%  (233757) TRUE /
Gunsagar Neeraj EVP, Chief Marketing Officer 0.29%  (222313) TRUE /
Taira Thomas Chief Product Officer 0.20%  (156904) TRUE /
Nguyen James EVP, Corporate and Partner Dev 0.20%  (154149) TRUE /
Skutta Brian EVP, Dealer Sales & Service 0.14%  (109952) TRUE /
Upfront II, L.P. former 10% owner 0.14%  (104861) TRUE /
Darrow Michael EVP, OEM Development 0.13%  (101247) TRUE /
Swart Jeff SVP & General Counsel 0.12%  (91311) TRUE /
Easterby Stewart Chief Operating Officer 0.12%  (88620) TRUE /
Buce Robert 0.10%  (80457) TRUE /
Pierantoni John SVP, Chief Accounting Officer 0.06%  (49708) TRUE /
Krafcik John President 0.06%  (46468) TRUE /
Capricorn Investment Group LLC 0.04%  (27599) TRUE /
Foster Troy Chief Legal & Compliance Offcr 0.03%  (25730) TRUE /
GIBSON THOMAS R 0.03%  (21097) TRUE /
Lantz Erin N 0.03%  (20032) TRUE / WAFD /
Nichols Wesley A. 0.03%  (20032) BJRI / TRUE /
Claus Christopher W 0.02%  (17851) CIA / TRUE /
BRADLEY RICHARD TODD 0.02%  (16665) HPQ / KODK / TIBX / TRUE /
Dietz Steven J 0.02%  (15487) TRUE /
Agrawal Abhishek 0.02%  (15263) TRUE /
Dunn Michael S Chief Technology Officer 0.01%  (10000) TRUE /
Dominique Lawrence EVP, Industry Solutions 0.01%  (10000) TRUE /
Donat Lucas Chief Marketing Officer 0.01%  (10000) TRUE /
Mendel John W 0.01%  (8552) TRUE /