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

TrueCar, Inc. (NASDAQ:TRUE) has been given an average recommendation of “Moderate Buy” by the five brokerages that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $4.63.

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

TrueCar Stock Performance

NASDAQ TRUE opened at $1.82 on Tuesday. TrueCar has a one year low of $1.80 and a one year high of $4.62. The stock has a 50-day moving average of $2.98 and a 200 day moving average of $3.47. The company has a market capitalization of $158.81 million, a price-to-earnings ratio of -5.35 and a beta of 1.72.

TrueCar (NASDAQ:TRUE) last announced 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 company had revenue of $46.21 million during the quarter, compared to the consensus estimate of $47.30 million. TrueCar had a negative return on equity of 17.54% and a negative net margin of 17.68%. On average, equities analysts predict that TrueCar will post -0.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TrueCar

Institutional investors and hedge funds have recently bought and sold shares of the stock. Raymond James Financial Inc. bought a new position in shares of TrueCar in the fourth quarter worth about $930,000. Arrowstreet Capital Limited Partnership raised its stake in TrueCar by 75.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 521,467 shares of the technology company’s stock worth $1,945,000 after acquiring an additional 224,969 shares during the period. JPMorgan Chase & Co. raised its stake in TrueCar by 113.0% during the 4th quarter. JPMorgan Chase & Co. now owns 321,378 shares of the technology company’s stock worth $1,199,000 after acquiring an additional 170,475 shares during the period. Lazard Asset Management LLC purchased a new position in TrueCar during the fourth quarter valued at approximately $477,000. Finally, Millennium Management LLC bought a new position in shares of TrueCar in the fourth quarter worth approximately $420,000. 79.44% of the stock is currently owned by hedge funds and other institutional investors.

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.