TrueCar (NASDAQ:TRUE) Stock Rating Lowered by JPMorgan Chase & Co.

TrueCar (NASDAQ:TRUE) was downgraded by research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a note issued to investors on Thursday, MarketBeat.com reports.

Other research analysts also recently issued reports about the company. Needham & Company LLC dropped their price objective on TrueCar from $5.00 to $4.00 and set a “buy” rating on the stock in a research report on Wednesday, February 19th. StockNews.com downgraded shares of TrueCar from a “strong-buy” rating to a “buy” rating in a report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $4.63.

TrueCar Stock Performance

NASDAQ:TRUE opened at $1.59 on Thursday. The firm has a 50-day simple moving average of $2.68 and a two-hundred day simple moving average of $3.38. The firm has a market cap of $138.74 million, a P/E ratio of -4.68 and a beta of 1.72. TrueCar has a fifty-two week low of $1.52 and a fifty-two week high of $4.62.

TrueCar (NASDAQ:TRUE) last announced its quarterly earnings results on Tuesday, February 18th. The technology company reported ($0.07) earnings per share 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 for the quarter, compared to the consensus estimate of $47.30 million. On average, equities research analysts predict that TrueCar will post -0.19 EPS for the current year.

Institutional Trading of TrueCar

A number of hedge funds have recently bought and sold shares of the company. Geode Capital Management LLC boosted its position in TrueCar by 3.8% in the third quarter. Geode Capital Management LLC now owns 1,955,226 shares of the technology company’s stock worth $6,747,000 after purchasing an additional 71,508 shares during the last quarter. State Street Corp lifted its stake in shares of TrueCar by 0.9% in the 3rd quarter. State Street Corp now owns 1,790,659 shares of the technology company’s stock worth $6,178,000 after purchasing an additional 16,127 shares during the period. Northern Trust Corp boosted its holdings in shares of TrueCar by 2.6% in the fourth quarter. Northern Trust Corp now owns 714,729 shares of the technology company’s stock worth $2,666,000 after buying an additional 17,790 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in TrueCar by 75.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 521,467 shares of the technology company’s stock valued at $1,945,000 after buying an additional 224,969 shares during the period. Finally, FMR LLC increased its holdings in TrueCar by 23.7% during the third quarter. FMR LLC now owns 380,636 shares of the technology company’s stock valued at $1,313,000 after buying an additional 73,041 shares during 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.