TrueCar (NASDAQ:TRUE) Given New $4.00 Price Target at Needham & Company LLC

TrueCar (NASDAQ:TRUE - Free Report) had its price objective cut by Needham & Company LLC from $5.00 to $4.00 in a report published on Wednesday,Benzinga reports. They currently have a buy rating on the technology company's stock.

Other research analysts have also issued research reports about the stock. BTIG Research increased their price target on shares of TrueCar from $3.75 to $4.50 and gave the stock a "buy" rating in a research note on Tuesday, October 22nd. StockNews.com upgraded shares of TrueCar from a "hold" rating to a "buy" rating in a research note on Tuesday, December 3rd. Finally, B. Riley increased their price target on shares of TrueCar from $3.30 to $4.00 and gave the stock a "neutral" rating in a research note on Monday, November 11th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $4.63.

TrueCar Stock Down 6.4 %

Shares of TRUE stock traded down $0.17 during trading hours on Wednesday, reaching $2.50. 499,562 shares of the stock traded hands, compared to its average volume of 296,887. TrueCar has a 1-year low of $2.48 and a 1-year high of $4.62. The business has a fifty day moving average price of $3.55 and a 200 day moving average price of $3.55. The firm has a market capitalization of $217.40 million, a PE ratio of -7.35 and a beta of 1.75.

TrueCar (NASDAQ:TRUE - Get Free Report) last released its quarterly 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 for the quarter, compared to analyst estimates of $47.30 million. Research analysts expect that TrueCar will post -0.19 earnings per share for the current fiscal year.

Institutional Trading of TrueCar

Several large investors have recently modified their holdings of the company. SkyView Investment Advisors LLC boosted its holdings in shares of TrueCar by 1.8% during the 3rd quarter. SkyView Investment Advisors LLC now owns 203,695 shares of the technology company's stock worth $703,000 after buying an additional 3,510 shares during the period. Price T Rowe Associates Inc. MD boosted 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 worth $537,000 after buying an additional 5,089 shares during the period. ProShare Advisors LLC boosted its holdings in TrueCar by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 24,123 shares of the technology company's stock valued at $90,000 after purchasing an additional 7,938 shares during the period. BNP Paribas Financial Markets boosted its holdings in TrueCar by 15.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 60,942 shares of the technology company's stock valued at $210,000 after purchasing an additional 8,027 shares during the period. Finally, Two Sigma Advisers LP boosted its holdings in TrueCar by 43.5% in the 4th quarter. Two Sigma Advisers LP now owns 33,000 shares of the technology company's stock valued at $123,000 after purchasing an additional 10,000 shares during the period. 79.44% of the stock is 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.