TrueCar’s (TRUE) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of TrueCar (NASDAQ:TRUE) in a report issued on Tuesday,Benzinga reports. The firm currently has a $5.00 price objective on the technology company’s stock.

Other research analysts have also issued research reports about the stock. Lake Street Capital started coverage on shares of TrueCar in a research note on Monday, October 7th. They issued a “buy” rating and a $6.00 price target on the stock. BTIG Research increased their target price on shares of TrueCar from $3.75 to $4.50 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. StockNews.com lowered shares of TrueCar from a “buy” rating to a “hold” rating in a research report on Monday. Finally, B. Riley increased their target price on shares of TrueCar from $3.30 to $4.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $4.88.

TrueCar Stock Performance

Shares of TRUE opened at $4.35 on Tuesday. TrueCar has a 52 week low of $2.56 and a 52 week high of $4.53. The firm has a market cap of $378.28 million, a P/E ratio of -15.00 and a beta of 1.83. The firm’s 50-day simple moving average is $3.78 and its 200 day simple moving average is $3.32.

TrueCar (NASDAQ:TRUE) last announced its quarterly earnings results on Wednesday, November 6th. The technology company reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.03) by ($0.03). TrueCar had a negative net margin of 15.88% and a negative return on equity of 14.33%. The company had revenue of $46.54 million during the quarter, compared to analyst estimates of $45.82 million. During the same quarter last year, the company posted ($0.07) EPS. As a group, equities analysts forecast that TrueCar will post -0.3 earnings per share for the current year.

Institutional Trading of TrueCar

Several large investors have recently made changes to their positions in the company. SkyView Investment Advisors LLC boosted its position 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 acquiring an additional 3,510 shares in the last quarter. Barclays PLC boosted its position in shares of TrueCar by 169.2% during the 3rd quarter. Barclays PLC now owns 130,062 shares of the technology company’s stock worth $448,000 after acquiring an additional 81,745 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of TrueCar by 3.8% during the 3rd quarter. Geode Capital Management LLC now owns 1,955,226 shares of the technology company’s stock worth $6,747,000 after acquiring an additional 71,508 shares in the last quarter. Jane Street Group LLC boosted its position in shares of TrueCar by 19.4% during the 3rd quarter. Jane Street Group LLC now owns 99,586 shares of the technology company’s stock worth $344,000 after acquiring an additional 16,163 shares in the last quarter. Finally, State Street Corp boosted its position in shares of TrueCar by 0.9% during the 3rd quarter. State Street Corp now owns 1,790,659 shares of the technology company’s stock worth $6,178,000 after acquiring an additional 16,127 shares in the last quarter. Institutional investors and hedge funds 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.