TrueCar (NASDAQ:TRUE) Earns "Neutral" Rating from BTIG Research

Key Points

• TrueCar's stock received a "neutral" rating from BTIG Research, reflecting mixed opinions among analysts; JPMorgan upgraded it from "underweight" to "neutral," while Weiss Ratings maintained a "sell" rating.
• The stock has a current price target consensus of $3.45, with five analysts rating it as "hold" and two as "sell."
• TrueCar's shares were trading at $2.45, showing an increase of 1.7% and a market capitalization of $216.68 million, with significant institutional investor ownership at 79.44%.

TrueCar (NASDAQ:TRUE - Get Free Report)'s stock had its "neutral" rating reiterated by analysts at BTIG Research in a report released on Monday,Benzinga reports.

Other equities analysts have also issued reports about the company. JPMorgan Chase & Co. upgraded TrueCar from an "underweight" rating to a "neutral" rating in a research report on Thursday. Weiss Ratings reiterated a "sell (d-)" rating on shares of TrueCar in a research report on Wednesday, October 8th. Needham & Company LLC reissued a "hold" rating on shares of TrueCar in a research note on Tuesday, October 7th. Finally, Lake Street Capital lifted their price target on TrueCar from $2.00 to $2.55 and gave the company a "hold" rating in a research note on Thursday. Five analysts have rated the stock with a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Reduce" and a consensus target price of $3.45.

TrueCar Trading Up 1.7%

Shares of TRUE stock opened at $2.45 on Monday. The business's 50-day moving average price is $2.01 and its 200-day moving average price is $1.77. The firm has a market capitalization of $216.68 million, a price-to-earnings ratio of -7.21 and a beta of 2.00. TrueCar has a 12 month low of $1.05 and a 12 month high of $4.62.

Institutional Investors Weigh In On TrueCar

A number of institutional investors have recently modified their holdings of TRUE. Acadian Asset Management LLC grew its position in TrueCar by 22.2% in the 1st quarter. Acadian Asset Management LLC now owns 2,753,300 shares of the technology company's stock worth $4,346,000 after purchasing an additional 500,804 shares during the last quarter. Geode Capital Management LLC grew its position in TrueCar by 1.3% in the 2nd quarter. Geode Capital Management LLC now owns 1,842,858 shares of the technology company's stock worth $3,502,000 after purchasing an additional 24,162 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of TrueCar by 8.0% in the first quarter. Russell Investments Group Ltd. now owns 747,593 shares of the technology company's stock valued at $1,181,000 after acquiring an additional 55,088 shares in the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of TrueCar by 4.5% in the first quarter. Goldman Sachs Group Inc. now owns 387,829 shares of the technology company's stock valued at $613,000 after acquiring an additional 16,822 shares in the last quarter. Finally, SkyView Investment Advisors LLC boosted its holdings in shares of TrueCar by 7.8% in the second quarter. SkyView Investment Advisors LLC now owns 260,499 shares of the technology company's stock valued at $511,000 after acquiring an additional 18,951 shares in the last quarter. Institutional investors own 79.44% of the company's stock.

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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