TrueCar (NASDAQ:TRUE) Stock Rating Lowered by StockNews.com

TrueCar (NASDAQ:TRUE) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Monday.

Several other equities research analysts also recently commented on the company. Lake Street Capital began coverage on TrueCar in a report on Monday, October 7th. They issued a “buy” rating and a $6.00 price objective for the company. B. Riley lifted their price objective on TrueCar from $3.30 to $4.00 and gave the stock a “neutral” rating in a report on Monday, November 11th. Needham & Company LLC reduced their price objective on TrueCar from $4.00 to $3.75 and set a “buy” rating for the company in a report on Tuesday, August 6th. Finally, BTIG Research boosted their price target on TrueCar from $3.75 to $4.50 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $4.88.

TrueCar Price Performance

Shares of NASDAQ:TRUE opened at $4.22 on Monday. TrueCar has a 1-year low of $2.56 and a 1-year high of $4.53. The business has a fifty day moving average price of $3.73 and a 200-day moving average price of $3.30. The company has a market capitalization of $366.96 million, a PE ratio of -14.55 and a beta of 1.83.

TrueCar (NASDAQ:TRUE) last issued its quarterly earnings results on Wednesday, November 6th. The technology company reported ($0.06) earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $45.82 million. During the same quarter in the previous year, the business earned ($0.07) earnings per share. On average, sell-side analysts anticipate that TrueCar will post -0.3 earnings per share for the current fiscal year.

Institutional Investors Weigh In On TrueCar

A number of large investors have recently made changes to their positions in TRUE. SkyView Investment Advisors LLC lifted 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 valued at $703,000 after buying an additional 3,510 shares in the last quarter. Renaissance Technologies LLC lifted its position in shares of TrueCar by 0.3% during the 2nd quarter. Renaissance Technologies LLC now owns 2,123,601 shares of the technology company’s stock valued at $6,647,000 after buying an additional 6,800 shares in the last quarter. ClariVest Asset Management LLC lifted its position in shares of TrueCar by 2.9% during the 2nd quarter. ClariVest Asset Management LLC now owns 253,474 shares of the technology company’s stock valued at $793,000 after buying an additional 7,088 shares in the last quarter. BNP Paribas Financial Markets lifted its position in shares of TrueCar by 15.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 60,942 shares of the technology company’s stock valued at $210,000 after buying an additional 8,027 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new position in shares of TrueCar during the 3rd quarter valued at about $36,000. 79.44% of the stock is currently owned by institutional investors.

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.