TrueCar, Inc. (NASDAQ:TRUE) Receives Average Rating of “Moderate Buy” from Analysts

TrueCar, Inc. (NASDAQ:TRUE) has been assigned an average rating of “Moderate Buy” from the five analysts that are currently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $4.63.

A number of equities analysts have recently commented on the stock. JPMorgan Chase & Co. downgraded shares of TrueCar from an “overweight” rating to a “neutral” rating in a research note on Friday, February 21st. Needham & Company LLC lowered their target price on shares of TrueCar from $5.00 to $4.00 and set a “buy” rating on the stock in a report on Wednesday, February 19th. Finally, StockNews.com cut shares of TrueCar from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 28th.

TrueCar Stock Up 5.6 %

TrueCar stock opened at $1.88 on Tuesday. The stock has a market capitalization of $164.04 million, a PE ratio of -5.53 and a beta of 1.72. TrueCar has a twelve month low of $1.68 and a twelve month high of $4.62. The company has a 50 day moving average of $2.82 and a 200-day moving average of $3.42.

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

Hedge Funds Weigh In On TrueCar

Several institutional investors and hedge funds have recently made changes to their positions in TRUE. Barclays PLC boosted its stake in TrueCar by 169.2% in the 3rd quarter. Barclays PLC now owns 130,062 shares of the technology company’s stock valued at $448,000 after purchasing an additional 81,745 shares during the period. State Street Corp grew its stake in shares of TrueCar by 0.9% in the third quarter. State Street Corp now owns 1,790,659 shares of the technology company’s stock valued at $6,178,000 after acquiring an additional 16,127 shares in the last quarter. BNP Paribas Financial Markets increased its position in TrueCar by 15.2% during the third quarter. BNP Paribas Financial Markets now owns 60,942 shares of the technology company’s stock worth $210,000 after acquiring an additional 8,027 shares during the period. Geode Capital Management LLC raised its position in shares of TrueCar by 3.8% in the third quarter. Geode Capital Management LLC now owns 1,955,226 shares of the technology company’s stock valued at $6,747,000 after buying an additional 71,508 shares in the last quarter. Finally, Jane Street Group LLC increased its stake in TrueCar by 19.4% during the 3rd quarter. Jane Street Group LLC now owns 99,586 shares of the technology company’s stock worth $344,000 after acquiring an additional 16,163 shares during the period. Institutional investors and hedge funds own 79.44% of the company’s stock.

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.