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

Shares of TrueCar, Inc. (NASDAQ:TRUE) have earned an average rating of “Moderate Buy” from the four brokerages that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company. The average 1 year price target among brokers that have issued a report on the stock in the last year is $4.63.

A number of brokerages recently commented on TRUE. JPMorgan Chase & Co. cut shares of TrueCar from an “overweight” rating to a “neutral” rating in a research report on Friday. StockNews.com upgraded shares of TrueCar from a “buy” rating to a “strong-buy” rating in a research report on Thursday. B. Riley lifted their target price on shares of TrueCar from $3.30 to $4.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. Finally, Needham & Company LLC decreased their target price on shares of TrueCar from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Wednesday.

Institutional Investors Weigh In On TrueCar

Large investors have recently modified their holdings of the stock. Barclays PLC boosted its stake in shares of TrueCar by 169.2% during the 3rd quarter. Barclays PLC now owns 130,062 shares of the technology company’s stock valued at $448,000 after purchasing an additional 81,745 shares in the last quarter. State Street Corp boosted its stake in shares of TrueCar by 0.9% during the 3rd quarter. State Street Corp now owns 1,790,659 shares of the technology company’s stock valued at $6,178,000 after purchasing an additional 16,127 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of TrueCar by 15.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 60,942 shares of the technology company’s stock valued at $210,000 after purchasing an additional 8,027 shares in the last quarter. Geode Capital Management LLC lifted its position in TrueCar by 3.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,955,226 shares of the technology company’s stock valued at $6,747,000 after acquiring an additional 71,508 shares during the period. Finally, Jane Street Group LLC lifted its position in TrueCar by 19.4% during the 3rd quarter. Jane Street Group LLC now owns 99,586 shares of the technology company’s stock valued at $344,000 after acquiring an additional 16,163 shares during the period. Institutional investors own 79.44% of the company’s stock.

TrueCar Stock Performance

TrueCar stock opened at $2.67 on Friday. The firm’s fifty day moving average price is $3.55 and its 200-day moving average price is $3.55. The stock has a market cap of $232.18 million, a P/E ratio of -7.85 and a beta of 1.75. TrueCar has a fifty-two week low of $2.50 and a fifty-two week high of $4.62.

TrueCar (NASDAQ:TRUE) last posted its quarterly earnings data on Tuesday, February 18th. The technology company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.06) by ($0.01). The company had revenue of $46.21 million for the quarter, compared to analysts’ expectations 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 predict that TrueCar will post -0.19 earnings per share for the current year.

About TrueCar

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.