TrueCar, Inc. (NASDAQ:TRUE) Receives Consensus Rating of "Hold" from Brokerages

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

TRUE has been the topic of several recent analyst reports. Lake Street Capital lowered shares of 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. B. Riley reiterated a "neutral" rating on shares of TrueCar in a report on Wednesday. Citigroup downgraded TrueCar to an "underweight" rating in a report on Thursday, March 27th. JPMorgan Chase & Co. lowered TrueCar from a "neutral" rating to an "underweight" rating in a research note on Thursday, March 27th. Finally, StockNews.com lowered TrueCar from a "buy" rating to a "hold" rating in a research note on Thursday.

TrueCar Stock Down 4.1 %

Shares of TrueCar stock traded down $0.06 during trading on Wednesday, hitting $1.39. 229,339 shares of the company were exchanged, compared to its average volume of 285,412. The firm has a 50 day moving average price of $1.62 and a 200 day moving average price of $2.97. The stock has a market capitalization of $121.65 million, a price-to-earnings ratio of -4.09 and a beta of 2.13. TrueCar has a fifty-two week low of $1.05 and a fifty-two week high of $4.62.

TrueCar (NASDAQ:TRUE - Get Free Report) last released its earnings results on Tuesday, February 18th. The technology company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.01). TrueCar had a negative net margin of 17.68% and a negative return on equity of 17.54%. The firm had revenue of $46.21 million during the quarter, compared to analysts' expectations of $47.30 million. Analysts predict that TrueCar will post -0.19 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. R Squared Ltd acquired a new position in TrueCar during the 4th quarter valued at about $49,000. Straightline Group LLC acquired a new stake in TrueCar during the fourth quarter valued at approximately $69,000. ProShare Advisors LLC boosted its holdings in TrueCar by 49.0% during the fourth 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 in the last quarter. Occudo Quantitative Strategies LP acquired a new position in TrueCar in the fourth quarter worth approximately $111,000. Finally, Two Sigma Advisers LP grew its holdings in shares of TrueCar by 43.5% during the fourth quarter. Two Sigma Advisers LP now owns 33,000 shares of the technology company's stock valued at $123,000 after buying an additional 10,000 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.