TrueCar (NASDAQ:TRUE) Cut to “Hold” at StockNews.com

TrueCar (NASDAQ:TRUE) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Monday.

A number of other equities analysts also recently commented on TRUE. Lake Street Capital started coverage on shares of TrueCar in a research note on Monday, October 7th. They set a “buy” rating and a $6.00 target price for the company. Needham & Company LLC lowered their target price on shares of TrueCar from $4.00 to $3.75 and set a “buy” rating for the company in a research note on Tuesday, August 6th. B. Riley boosted their target price on shares of TrueCar from $3.30 to $4.00 and gave the stock a “neutral” rating in a research note on Monday, November 11th. Finally, BTIG Research boosted their target price on shares of TrueCar from $3.75 to $4.50 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, TrueCar has a consensus rating of “Moderate Buy” and a consensus target price of $4.56.

TrueCar Stock Performance

Shares of NASDAQ:TRUE traded down $0.09 during trading on Monday, hitting $4.14. The company’s stock had a trading volume of 208,244 shares, compared to its average volume of 235,170. The business has a 50 day moving average price of $3.71 and a two-hundred day moving average price of $3.29. The company has a market capitalization of $360.01 million, a PE ratio of -14.28 and a beta of 1.83. TrueCar has a fifty-two week low of $2.56 and a fifty-two week high of $4.53.

TrueCar (NASDAQ:TRUE) last posted its quarterly earnings results on Wednesday, November 6th. The technology company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.03). The business had revenue of $46.54 million during the quarter, compared to analyst estimates of $45.82 million. TrueCar had a negative return on equity of 14.33% and a negative net margin of 15.88%. During the same quarter last year, the firm earned ($0.07) EPS. As a group, equities analysts expect that TrueCar will post -0.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On TrueCar

A number of institutional investors and hedge funds have recently bought and sold shares of TRUE. Vanguard Group Inc. lifted its position in TrueCar by 1.0% in the first quarter. Vanguard Group Inc. now owns 4,276,548 shares of the technology company’s stock valued at $14,497,000 after acquiring an additional 41,592 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in shares of TrueCar in the first quarter valued at about $43,000. Boston Partners raised its holdings in shares of TrueCar by 28.4% in the first quarter. Boston Partners now owns 131,053 shares of the technology company’s stock valued at $444,000 after buying an additional 29,025 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in shares of TrueCar in the second quarter valued at about $210,000. Finally, Bank of New York Mellon Corp raised its holdings in shares of TrueCar by 11.4% in the second quarter. Bank of New York Mellon Corp now owns 332,775 shares of the technology company’s stock valued at $1,042,000 after buying an additional 34,045 shares during the last quarter. 79.44% of the stock is owned by hedge funds and other institutional investors.

About TrueCar

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.