TrueCar, Inc. (NASDAQ:TRUE) Given Average Recommendation of “Moderate Buy” by Analysts

TrueCar, Inc. (NASDAQ:TRUE) has received an average rating of “Moderate Buy” from the four ratings firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $4.63.

Several research analysts recently commented on the stock. JPMorgan Chase & Co. downgraded shares of TrueCar from an “overweight” rating to a “neutral” rating in a report on Friday. StockNews.com raised shares of TrueCar from a “buy” rating to a “strong-buy” rating in a report on Thursday. B. Riley raised their price objective on shares of TrueCar from $3.30 to $4.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. Finally, Needham & Company LLC cut their price objective on shares of TrueCar from $5.00 to $4.00 and set a “buy” rating for the company in a report on Wednesday.

Institutional Trading of TrueCar

Institutional investors and hedge funds have recently bought and sold shares of the company. Intech Investment Management LLC purchased a new stake in TrueCar in the 3rd quarter worth approximately $36,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in TrueCar in the 3rd quarter worth approximately $43,000. R Squared Ltd purchased a new stake in TrueCar in the 4th quarter worth approximately $49,000. Straightline Group LLC purchased a new stake in TrueCar in the 4th quarter worth approximately $69,000. Finally, ProShare Advisors LLC lifted its stake in TrueCar by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 24,123 shares of the technology company’s stock worth $90,000 after purchasing an additional 7,938 shares in the last quarter. 79.44% of the stock is currently owned by hedge funds and other institutional investors.

TrueCar Price Performance

TRUE opened at $2.67 on Friday. TrueCar has a fifty-two week low of $2.50 and a fifty-two week high of $4.62. The firm has a market capitalization of $232.18 million, a PE ratio of -7.85 and a beta of 1.75. The company’s 50-day moving average is $3.55 and its 200 day moving average is $3.55.

TrueCar (NASDAQ:TRUE) last issued its quarterly earnings data on Tuesday, February 18th. The technology company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). TrueCar had a negative return on equity of 17.54% and a negative net margin of 17.68%. The firm had revenue of $46.21 million during the quarter, compared to the consensus estimate of $47.30 million. As a group, analysts expect that TrueCar will post -0.19 EPS for the current year.

TrueCar Company Profile

TrueCar, Inc operates as an internet-based information, technology, and communication services company in the United States. It operates its platform on the TrueCar website and mobile applications. Its platform enables users to obtain market-based pricing data on new and used cars, and to connect with its network of TrueCar certified dealers.