TrueCar (NASDAQ:TRUE) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of TrueCar (NASDAQ:TRUE) from a buy rating to a hold rating in a report released on Monday morning.

Several other research firms also recently commented on TRUE. BTIG Research raised their price objective on TrueCar from $3.75 to $4.50 and gave the stock a “buy” rating in a research note on Tuesday, October 22nd. Lake Street Capital assumed coverage on TrueCar in a report on Monday, October 7th. They set a “buy” rating and a $6.00 price target on the stock. B. Riley lifted their target price on TrueCar from $3.30 to $4.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. Finally, Needham & Company LLC lowered their target price on TrueCar from $4.00 to $3.75 and set a “buy” rating for the company in a report on Tuesday, August 6th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $4.88.

TrueCar Stock Up 3.1 %

Shares of TrueCar stock opened at $4.35 on Monday. TrueCar has a 52 week low of $2.56 and a 52 week high of $4.53. The business has a 50 day moving average of $3.76 and a 200 day moving average of $3.31. The company has a market cap of $378.28 million, a PE ratio of -15.00 and a beta of 1.83.

TrueCar (NASDAQ:TRUE) last announced its quarterly earnings data on Wednesday, November 6th. The technology company reported ($0.06) EPS for the quarter, missing the consensus estimate of ($0.03) by ($0.03). The firm had revenue of $46.54 million for the quarter, compared to analysts’ expectations of $45.82 million. TrueCar had a negative net margin of 15.88% and a negative return on equity of 14.33%. During the same period last year, the company posted ($0.07) earnings per share. On average, research analysts anticipate that TrueCar will post -0.3 earnings per share for the current year.

Institutional Trading of TrueCar

Several large investors have recently bought and sold shares of TRUE. Bank of Montreal Can grew its stake in shares of TrueCar by 769.9% in the 2nd quarter. Bank of Montreal Can now owns 416,063 shares of the technology company’s stock valued at $1,319,000 after buying an additional 368,234 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of TrueCar by 151.1% in the third quarter. Assenagon Asset Management S.A. now owns 168,600 shares of the technology company’s stock valued at $582,000 after purchasing an additional 101,459 shares during the period. Barclays PLC boosted its position in TrueCar by 169.2% in the 3rd quarter. Barclays PLC now owns 130,062 shares of the technology company’s stock valued at $448,000 after buying an additional 81,745 shares during the period. FMR LLC grew its stake in TrueCar by 23.7% during the 3rd quarter. FMR LLC now owns 380,636 shares of the technology company’s stock worth $1,313,000 after purchasing an additional 73,041 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in shares of TrueCar by 3.8% during the third quarter. Geode Capital Management LLC now owns 1,955,226 shares of the technology company’s stock worth $6,747,000 after buying an additional 71,508 shares in the last quarter. Hedge funds and other 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.