TrueCar, Inc. (NASDAQ:TRUE) Receives $3.19 Consensus PT from Brokerages

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

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. downgraded shares of TrueCar from a "neutral" rating to an "underweight" rating in a research report on Thursday, March 27th. Needham & Company LLC decreased their price target on shares of TrueCar from $4.00 to $2.75 and set a "buy" rating for the company in a research report on Tuesday, May 6th. Lake Street Capital downgraded shares of TrueCar from a "buy" rating to a "hold" rating and decreased their price target for the stock from $5.00 to $1.50 in a research report on Tuesday, May 6th. B. Riley restated a "neutral" rating on shares of TrueCar in a research note on Wednesday. Finally, Citigroup cut TrueCar to an "underweight" rating in a research note on Thursday, March 27th.

TrueCar Trading Up 6.5%

NASDAQ:TRUE traded up $0.09 during trading hours on Wednesday, hitting $1.48. The stock had a trading volume of 9,594 shares, compared to its average volume of 285,012. TrueCar has a 1-year low of $1.05 and a 1-year high of $4.62. The business has a 50 day simple moving average of $1.61 and a two-hundred day simple moving average of $2.95. The company has a market cap of $129.76 million, a PE ratio of -4.35 and a beta of 2.13.

TrueCar (NASDAQ:TRUE - Get Free Report) last issued its quarterly earnings data on Tuesday, February 18th. The technology company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $47.30 million. Research analysts expect that TrueCar will post -0.19 EPS for the current fiscal year.

Institutional Investors Weigh In On TrueCar

A number of hedge funds and other institutional investors have recently modified their holdings of TRUE. Price T Rowe Associates Inc. MD lifted its holdings in shares of TrueCar by 3.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 143,749 shares of the technology company's stock valued at $537,000 after buying an additional 5,089 shares during the last quarter. ProShare Advisors LLC increased its position in TrueCar by 49.0% in 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. Two Sigma Advisers LP increased its position in TrueCar by 43.5% in the 4th quarter. Two Sigma Advisers LP now owns 33,000 shares of the technology company's stock worth $123,000 after buying an additional 10,000 shares during the period. Wells Fargo & Company MN increased its position in shares of TrueCar by 27.8% during the fourth quarter. Wells Fargo & Company MN now owns 50,275 shares of the technology company's stock valued at $188,000 after purchasing an additional 10,950 shares during the period. Finally, Mackenzie Financial Corp increased its position in shares of TrueCar by 55.2% during the fourth 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 period. 79.44% of the stock is currently owned by institutional investors.

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.