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

Shares of TrueCar, Inc. (NASDAQ:TRUE) have been assigned an average rating of “Moderate Buy” from the five analysts that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $4.63.

TRUE has been the topic of several research analyst reports. Needham & Company LLC decreased their price target on TrueCar from $5.00 to $4.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th. B. Riley raised their price target on TrueCar from $3.30 to $4.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. JPMorgan Chase & Co. downgraded shares of TrueCar from an “overweight” rating to a “neutral” rating in a report on Friday, February 21st. Finally, StockNews.com downgraded shares of TrueCar from a “strong-buy” rating to a “buy” rating in a report on Friday.

TrueCar Trading Down 4.3 %

TrueCar stock opened at $2.25 on Friday. TrueCar has a twelve month low of $2.16 and a twelve month high of $4.62. The stock has a 50 day moving average of $3.38 and a two-hundred day moving average of $3.53. The stock has a market capitalization of $196.33 million, a price-to-earnings ratio of -6.62 and a beta of 1.75.

TrueCar (NASDAQ:TRUE) last issued its earnings results 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 business had revenue of $46.21 million for the quarter, compared to analysts’ expectations of $47.30 million. Equities analysts predict that TrueCar will post -0.19 earnings per share for the current year.

Hedge Funds Weigh In On TrueCar

Hedge funds and other institutional investors have recently modified their holdings of the company. Intech Investment Management LLC acquired a new position in shares of TrueCar during the 3rd quarter valued at $36,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of TrueCar in the third quarter valued at $43,000. R Squared Ltd purchased a new stake in shares of TrueCar during the fourth quarter worth about $49,000. Straightline Group LLC purchased a new position in TrueCar in the fourth quarter valued at about $69,000. Finally, ProShare Advisors LLC grew its position in shares of TrueCar by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 24,123 shares of the technology company’s stock worth $90,000 after buying an additional 7,938 shares in the last quarter. 79.44% of the stock is owned by institutional investors and hedge funds.

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.