TrueCar, Inc. (NASDAQ:TRUE) Receives Consensus Rating of "Moderate Buy" from Analysts

Shares of TrueCar, Inc. (NASDAQ:TRUE - Get Free Report) have been assigned an average recommendation of "Moderate Buy" from the five brokerages that are covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $4.63.

Several equities analysts recently issued reports on TRUE shares. Needham & Company LLC decreased their target price on TrueCar from $5.00 to $4.00 and set a "buy" rating on the stock in a research note on Wednesday, February 19th. JPMorgan Chase & Co. lowered shares of TrueCar from an "overweight" rating to a "neutral" rating in a research note on Friday, February 21st. Finally, StockNews.com downgraded shares of TrueCar from a "strong-buy" rating to a "buy" rating in a research note on Friday, February 28th.

Hedge Funds Weigh In On TrueCar

A number of institutional investors and hedge funds have recently modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in TrueCar in the third quarter valued at $43,000. Intech Investment Management LLC purchased a new stake in TrueCar during the third quarter worth approximately $36,000. FMR LLC lifted its stake in TrueCar by 23.7% during the third 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 during the last quarter. BNP Paribas Financial Markets boosted its holdings in TrueCar by 15.2% in the third 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 in the last quarter. Finally, State Street Corp increased its stake in TrueCar by 0.9% in the third quarter. State Street Corp now owns 1,790,659 shares of the technology company's stock valued at $6,178,000 after purchasing an additional 16,127 shares during the last quarter. Institutional investors and hedge funds own 79.44% of the company's stock.

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TrueCar Price Performance

Shares of NASDAQ:TRUE traded up $0.02 during midday trading on Tuesday, reaching $1.78. 1,389,961 shares of the company's stock were exchanged, compared to its average volume of 251,611. The firm's 50 day simple moving average is $2.88 and its two-hundred day simple moving average is $3.44. TrueCar has a fifty-two week low of $1.68 and a fifty-two week high of $4.62. The stock has a market cap of $155.32 million, a price-to-earnings ratio of -5.24 and a beta of 1.72.

TrueCar (NASDAQ:TRUE - Get Free Report) last posted its 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 company had revenue of $46.21 million during the quarter, compared to analyst estimates of $47.30 million. Equities research analysts predict that TrueCar will post -0.19 earnings per share for the current fiscal year.

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.