The analyst firm lowered its price target on TrueCar stock to $8 from $17.
Goldman Sachs also lowered its 2015 EPS estimates to a loss of 10 cents a share from a profit of 10 cents a share. The analyst firm lowered its 2016 and 2017 EPS estimates for the company to 10 cents and 36 cents a share from 44 cents and 92 cents a share, respectively.
The downgrade, lower price target, and lower EPS estimates are due to the company preannouncing its second quarter financial results and lowering its full year 2015 guidance.
TrueCar said it now expects revenue of $65 million to $65.3 million for the second quarter, down from its previous guidance of $67 million to $69 million. The company now expects revenue of $252 million to $258 million for full year 2015.