TrueCar, Inc. (NASDAQ:TRUE) Receives Average Rating of “Hold” from Brokerages

TrueCar, Inc. (NASDAQ:TRUE) has earned an average rating of “Hold” from the six ratings firms that are presently covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $3.19.

A number of research firms recently weighed in on TRUE. B. Riley restated a “neutral” rating on shares of TrueCar in a research note on Wednesday. JPMorgan Chase & Co. cut TrueCar from a “neutral” rating to an “underweight” rating in a report on Thursday, March 27th. Citigroup cut TrueCar to an “underweight” rating in a report on Thursday, March 27th. StockNews.com cut TrueCar from a “buy” rating to a “hold” rating in a report on Thursday. Finally, Lake Street Capital cut TrueCar from a “buy” rating to a “hold” rating and cut their price target for the stock from $5.00 to $1.50 in a report on Tuesday, May 6th.

Institutional Investors Weigh In On TrueCar

A number of institutional investors have recently added to or reduced their stakes in TRUE. Raymond James Financial Inc. purchased a new stake in TrueCar during the fourth quarter valued at about $930,000. Arrowstreet Capital Limited Partnership grew its position in TrueCar by 75.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 521,467 shares of the technology company’s stock valued at $1,945,000 after acquiring an additional 224,969 shares during the period. JPMorgan Chase & Co. grew its position in TrueCar by 113.0% during the fourth quarter. JPMorgan Chase & Co. now owns 321,378 shares of the technology company’s stock valued at $1,199,000 after acquiring an additional 170,475 shares during the period. Lazard Asset Management LLC purchased a new stake in TrueCar during the fourth quarter valued at about $477,000. Finally, Millennium Management LLC purchased a new stake in TrueCar during the fourth quarter valued at about $420,000. Hedge funds and other institutional investors own 79.44% of the company’s stock.

TrueCar Price Performance

TrueCar stock opened at $1.39 on Wednesday. TrueCar has a 1-year low of $1.05 and a 1-year high of $4.62. The company has a market cap of $121.65 million, a PE ratio of -4.09 and a beta of 2.13. The stock’s 50 day moving average price is $1.61 and its 200 day moving average price is $2.95.

TrueCar (NASDAQ:TRUE) last posted its quarterly earnings results on Tuesday, February 18th. The technology company reported ($0.07) earnings per share 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 business had revenue of $46.21 million during the quarter, compared to analysts’ expectations of $47.30 million. On average, equities research analysts anticipate that TrueCar will post -0.19 EPS for the current fiscal 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.