TrueCar, Inc. (NASDAQ:TRUE) Receives Consensus Recommendation of “Moderate Buy” from Brokerages

TrueCar, Inc. (NASDAQ:TRUE) has received a consensus rating of “Moderate Buy” from the five research firms that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $4.63.

Several analysts have commented on the company. JPMorgan Chase & Co. downgraded TrueCar from an “overweight” rating to a “neutral” rating in a research note on Friday, February 21st. Needham & Company LLC cut their price objective on shares of TrueCar from $5.00 to $4.00 and set a “buy” rating for the company in a research report on Wednesday, February 19th. Finally, StockNews.com lowered TrueCar from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 28th.

Institutional Investors Weigh In On TrueCar

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TRUE. Mackenzie Financial Corp increased its stake in shares of TrueCar by 55.2% in the fourth quarter. Mackenzie Financial Corp now owns 34,044 shares of the technology company’s stock worth $127,000 after purchasing an additional 12,112 shares during the period. Two Sigma Advisers LP boosted its stake 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 valued at $123,000 after purchasing an additional 10,000 shares in the last quarter. ProShare Advisors LLC grew its holdings in shares of TrueCar by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 24,123 shares of the technology company’s stock worth $90,000 after purchasing an additional 7,938 shares during the last quarter. Occudo Quantitative Strategies LP bought a new position in shares of TrueCar in the fourth quarter valued at approximately $111,000. Finally, Millennium Management LLC bought a new position in shares of TrueCar in the fourth quarter valued at about $420,000. Hedge funds and other institutional investors own 79.44% of the company’s stock.

TrueCar Trading Up 1.1 %

Shares of TRUE opened at $1.78 on Tuesday. The firm has a 50-day moving average price of $2.85 and a 200 day moving average price of $3.43. The firm has a market capitalization of $155.32 million, a P/E ratio of -5.24 and a beta of 1.72. TrueCar has a 12-month low of $1.68 and a 12-month high of $4.62.

TrueCar (NASDAQ:TRUE) last posted its quarterly earnings results on Tuesday, February 18th. The technology company reported ($0.07) EPS for the quarter, missing the consensus estimate of ($0.06) by ($0.01). TrueCar had a negative return on equity of 17.54% and a negative net margin of 17.68%. The business 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.

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.