TrueCar, Inc. (NASDAQ:TRUE) Receives Average Recommendation of "Hold" from Brokerages

TrueCar, Inc. (NASDAQ:TRUE - Get Free Report) has been given a consensus rating of "Hold" by the six brokerages that are covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and two have issued a buy recommendation on the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $3.19.

Several research firms have recently commented on TRUE. Needham & Company LLC decreased their price objective on TrueCar from $4.00 to $2.75 and set a "buy" rating for the company in a report on Tuesday, May 6th. Citigroup cut TrueCar to an "underweight" rating in a research report on Thursday, March 27th. JPMorgan Chase & Co. cut TrueCar from a "neutral" rating to an "underweight" rating in a report on Thursday, March 27th. Lake Street Capital lowered TrueCar from a "buy" rating to a "hold" rating and cut their price objective for the stock from $5.00 to $1.50 in a report on Tuesday, May 6th. Finally, Wall Street Zen cut TrueCar from a "buy" rating to a "hold" rating in a research note on Thursday, May 8th.

TrueCar Stock Down 6.3%

TRUE traded down $0.13 during trading on Monday, hitting $1.95. The company's stock had a trading volume of 151,452 shares, compared to its average volume of 205,999. The firm has a market capitalization of $170.98 million, a P/E ratio of -4.87 and a beta of 2.15. The stock's fifty day moving average price is $1.72 and its 200-day moving average price is $2.09. TrueCar has a twelve month low of $1.05 and a twelve month high of $4.62.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Raymond James Financial Inc. purchased a new stake in shares of TrueCar in the fourth quarter worth $930,000. American Century Companies Inc. boosted its stake in TrueCar by 17.9% during the 4th quarter. American Century Companies Inc. now owns 147,783 shares of the technology company's stock valued at $551,000 after purchasing an additional 22,385 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of TrueCar by 113.0% in the fourth quarter. JPMorgan Chase & Co. now owns 321,378 shares of the technology company's stock worth $1,199,000 after purchasing an additional 170,475 shares during the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of 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 buying an additional 224,969 shares during the last quarter. Finally, Wells Fargo & Company MN raised its position in TrueCar by 27.8% in the 4th quarter. Wells Fargo & Company MN now owns 50,275 shares of the technology company's stock worth $188,000 after buying an additional 10,950 shares during the last quarter. 79.44% of the stock is 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.