TrueCar (NASDAQ:TRUE) Upgraded by StockNews.com to Strong-Buy Rating

StockNews.com upgraded shares of TrueCar (NASDAQ:TRUE) from a buy rating to a strong-buy rating in a research note published on Thursday.

Several other equities analysts have also recently commented on the company. Needham & Company LLC cut their price target on TrueCar from $5.00 to $4.00 and set a “buy” rating for the company in a report on Wednesday. B. Riley boosted their price objective on TrueCar from $3.30 to $4.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $4.63.

TrueCar Trading Down 4.3 %

NASDAQ:TRUE opened at $2.67 on Thursday. TrueCar has a one year low of $2.50 and a one year high of $4.62. The company has a fifty day moving average price of $3.58 and a 200 day moving average price of $3.55.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Intech Investment Management LLC acquired a new position in shares of TrueCar in the 3rd quarter worth approximately $36,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in TrueCar in the third quarter valued at $43,000. R Squared Ltd bought a new stake in TrueCar in the fourth quarter valued at $49,000. Straightline Group LLC acquired a new position in TrueCar during the fourth quarter worth $69,000. Finally, ProShare Advisors LLC lifted its holdings 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 valued at $90,000 after acquiring an additional 7,938 shares during the period. Institutional investors 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.