TrueCar (NASDAQ:TRUE) Cut to Hold at StockNews.com

StockNews.com cut shares of TrueCar (NASDAQ:TRUE) from a buy rating to a hold rating in a research note published on Monday.

A number of other analysts have also recently weighed in on the company. Lake Street Capital initiated coverage on TrueCar in a research report on Monday, October 7th. They issued a “buy” rating and a $6.00 price target on the stock. B. Riley upped their price target on TrueCar from $3.30 to $4.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. Needham & Company LLC lowered their price target on TrueCar from $4.00 to $3.75 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Finally, BTIG Research upped their price target on TrueCar from $3.75 to $4.50 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $4.56.

TrueCar Trading Down 2.1 %

TRUE opened at $4.14 on Monday. The stock has a market cap of $360.01 million, a PE ratio of -14.28 and a beta of 1.83. TrueCar has a 1 year low of $2.56 and a 1 year high of $4.53. The stock’s 50 day simple moving average is $3.71 and its 200-day simple moving average is $3.29.

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

Hedge Funds Weigh In On TrueCar

A number of institutional investors and hedge funds have recently bought and sold shares of TRUE. Bank of Montreal Can boosted its stake in TrueCar by 769.9% in the second quarter. Bank of Montreal Can now owns 416,063 shares of the technology company’s stock worth $1,319,000 after purchasing an additional 368,234 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of TrueCar by 151.1% during the third quarter. Assenagon Asset Management S.A. now owns 168,600 shares of the technology company’s stock valued at $582,000 after acquiring an additional 101,459 shares during the period. Barclays PLC lifted its stake in shares of TrueCar by 169.2% during the third quarter. Barclays PLC now owns 130,062 shares of the technology company’s stock valued at $448,000 after acquiring an additional 81,745 shares during the period. FMR LLC lifted its stake in shares of TrueCar by 23.7% during the third quarter. FMR LLC now owns 380,636 shares of the technology company’s stock valued at $1,313,000 after acquiring an additional 73,041 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of TrueCar by 3.8% during the third quarter. Geode Capital Management LLC now owns 1,955,226 shares of the technology company’s stock valued at $6,747,000 after acquiring an additional 71,508 shares during the period. 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.