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

Shares of TrueCar, Inc. (NASDAQ:TRUE - Get Free Report) have received an average recommendation of "Hold" from the six research firms that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating on the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $3.19.

Several equities analysts have weighed in on TRUE shares. Needham & Company LLC dropped 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. Wall Street Zen cut TrueCar from a "buy" rating to a "hold" rating in a report on Thursday, May 8th. Citigroup cut TrueCar to an "underweight" rating in a 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. Finally, Lake Street Capital lowered TrueCar from a "buy" rating to a "hold" rating and decreased their price target for the company from $5.00 to $1.50 in a research note on Tuesday, May 6th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Kapitalo Investimentos Ltda acquired a new position in shares of TrueCar in the 2nd quarter valued at about $35,000. Straightline Group LLC acquired a new position in TrueCar during the 4th quarter worth approximately $69,000. Algert Global LLC acquired a new position in TrueCar during the 1st quarter worth approximately $30,000. Strs Ohio acquired a new position in TrueCar during the 1st quarter worth approximately $38,000. Finally, ProShare Advisors LLC raised its stake in TrueCar by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 24,123 shares of the technology company's stock worth $90,000 after buying an additional 7,938 shares during the period. 79.44% of the stock is owned by institutional investors and hedge funds.

TrueCar Trading Up 1.0%

NASDAQ:TRUE opened at $1.97 on Monday. The stock has a market cap of $172.72 million, a P/E ratio of -4.92 and a beta of 2.15. The stock has a 50 day simple moving average of $1.68 and a 200 day simple moving average of $2.11. TrueCar has a 1-year low of $1.05 and a 1-year high of $4.62.

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.

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