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

Shares of TrueCar, Inc. (NASDAQ:TRUE) have earned a consensus rating of “Moderate Buy” from the five ratings firms that are currently covering the stock, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $4.63.

Several research firms recently weighed in on TRUE. Needham & Company LLC cut their price objective 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. cut TrueCar from an “overweight” rating to a “neutral” rating in a report on Friday, February 21st. Finally, StockNews.com downgraded shares of TrueCar from a “strong-buy” rating to a “buy” rating in a research report on Friday, February 28th.

TrueCar Price Performance

Shares of TRUE opened at $1.88 on Tuesday. The firm has a 50 day simple moving average of $2.82 and a two-hundred day simple moving average of $3.42. The company has a market cap of $164.04 million, a P/E ratio of -5.53 and a beta of 1.72. TrueCar has a one year low of $1.68 and a one year high of $4.62.

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). The company had revenue of $46.21 million during the quarter, compared to analyst estimates of $47.30 million. TrueCar had a negative net margin of 17.68% and a negative return on equity of 17.54%. On average, analysts expect that TrueCar will post -0.19 earnings per share for the current fiscal year.

Institutional Trading of TrueCar

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Mackenzie Financial Corp boosted its stake in TrueCar by 55.2% during the 4th quarter. Mackenzie Financial Corp now owns 34,044 shares of the technology company’s stock valued at $127,000 after purchasing an additional 12,112 shares during the last quarter. Two Sigma Advisers LP lifted its holdings in shares of TrueCar by 43.5% in the fourth quarter. Two Sigma Advisers LP now owns 33,000 shares of the technology company’s stock valued at $123,000 after purchasing an additional 10,000 shares in the last quarter. ProShare Advisors LLC boosted its position 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 buying an additional 7,938 shares during the last quarter. Occudo Quantitative Strategies LP bought a new stake in TrueCar during the fourth quarter worth $111,000. Finally, Millennium Management LLC purchased a new stake in TrueCar in the 4th quarter valued at $420,000. 79.44% of the stock is owned by 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.