TrueCar, Inc. (NASDAQ:TRUE) Receives Consensus Recommendation of "Hold" from Analysts

TrueCar, Inc. (NASDAQ:TRUE - Get Free Report) has earned a consensus recommendation of "Hold" from the six brokerages that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company. The average 1-year price target among analysts that have covered the stock in the last year is $4.63.

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. downgraded shares of TrueCar from a "neutral" rating to an "underweight" rating in a report on Thursday, March 27th. StockNews.com cut TrueCar from a "strong-buy" rating to a "buy" rating in a report on Friday, February 28th. Needham & Company LLC reduced their price objective on shares of TrueCar from $5.00 to $4.00 and set a "buy" rating on the stock in a research report on Wednesday, February 19th. Finally, Citigroup lowered shares of TrueCar to an "underweight" rating in a research report on Thursday, March 27th.

TrueCar Price Performance

Shares of TRUE traded down $0.05 on Friday, reaching $1.27. The company's stock had a trading volume of 51,022 shares, compared to its average volume of 270,193. TrueCar has a 12-month low of $1.26 and a 12-month high of $4.62. The stock has a market capitalization of $110.71 million, a P/E ratio of -3.75 and a beta of 1.97. The stock's 50 day simple moving average is $2.07 and its two-hundred day simple moving average is $3.20.

TrueCar (NASDAQ:TRUE - Get Free Report) last released 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 for the quarter, compared to analysts' expectations of $47.30 million. Analysts expect that TrueCar will post -0.19 earnings per share for the current year.

Institutional Investors Weigh In On TrueCar

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. R Squared Ltd purchased a new stake in shares of TrueCar in the fourth quarter valued at approximately $49,000. Straightline Group LLC purchased a new stake in shares of TrueCar in the 4th quarter worth $69,000. ProShare Advisors LLC grew its position in shares of TrueCar by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 24,123 shares of the technology company's stock worth $90,000 after buying an additional 7,938 shares in the last quarter. Occudo Quantitative Strategies LP bought a new position in TrueCar during the 4th quarter worth about $111,000. Finally, Two Sigma Advisers LP lifted its position in shares of TrueCar by 43.5% in the 4th quarter. Two Sigma Advisers LP now owns 33,000 shares of the technology company's stock worth $123,000 after purchasing an additional 10,000 shares during the period. 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.