DA Davidson analyst Tom White lowered the price target on TrueCar (NASDAQ: TRUE) to $3.25 (from $4.00) while maintaining a Neutral rating.

The analyst comments "We remain NEUTRAL-rated on shares of TRUE following 4Q’24 results that were ~2.3% below consensus revenue ests (and 1.8% below our est) due largely to a slower-than-expected re-ramp in OEM Incentive revenues following the loss of American Express as an affinity partner. As a result, 4Q rev growth decelerated slightly to +11.9% (TRUE had guided to accelerating rev growth in 4Q). 4Q adj. EBITDA of $0.4M was also light vs. consensus at $1.2M (and us at $1.4M), but TRUE did manage to deliver on its goal of positive FCF in 4Q (was $4M)."