TrueCar (NASDAQ:TRUE) Downgraded to “Hold” Rating by StockNews.com

StockNews.com downgraded shares of TrueCar (NASDAQ:TRUE) from a buy rating to a hold rating in a report released on Monday morning.

TRUE has been the subject of a number of other reports. BTIG Research upped their target price on TrueCar from $3.75 to $4.50 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. B. Riley upped their target price on TrueCar from $3.30 to $4.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. Needham & Company LLC cut their target price on TrueCar from $4.00 to $3.75 and set a “buy” rating for the company in a research report on Tuesday, August 6th. Finally, Lake Street Capital began coverage on TrueCar in a research report on Monday, October 7th. They issued a “buy” rating and a $6.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, TrueCar currently has an average rating of “Moderate Buy” and an average target price of $4.88.

TrueCar Trading Up 3.1 %

Shares of NASDAQ TRUE opened at $4.35 on Monday. The stock has a 50 day simple moving average of $3.78 and a 200-day simple moving average of $3.32. The company has a market cap of $378.28 million, a PE ratio of -15.00 and a beta of 1.83. TrueCar has a 12-month low of $2.56 and a 12-month high of $4.53.

TrueCar (NASDAQ:TRUE) last issued its quarterly earnings data on Wednesday, November 6th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.03) by ($0.03). The business had revenue of $46.54 million for 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 in the prior year, the firm posted ($0.07) earnings per share. Sell-side analysts forecast that TrueCar will post -0.3 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. increased its holdings in shares of 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 buying an additional 41,592 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of TrueCar by 0.8% in the second quarter. Dimensional Fund Advisors LP now owns 3,253,582 shares of the technology company’s stock valued at $10,183,000 after purchasing an additional 25,541 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in shares of TrueCar by 0.6% in the second quarter. Acadian Asset Management LLC now owns 2,132,154 shares of the technology company’s stock valued at $6,671,000 after purchasing an additional 12,956 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of TrueCar by 0.3% in the second quarter. Renaissance Technologies LLC now owns 2,123,601 shares of the technology company’s stock valued at $6,647,000 after purchasing an additional 6,800 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of TrueCar by 3.8% in the third quarter. Geode Capital Management LLC now owns 1,955,226 shares of the technology company’s stock valued at $6,747,000 after purchasing an additional 71,508 shares in the last quarter. 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.