Brokerages Set TrueCar, Inc. (NASDAQ:TRUE) PT at $4.63

TrueCar, Inc. (NASDAQ:TRUE) has been assigned an average recommendation of “Moderate Buy” from the five ratings firms that are covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $4.63.

A number of equities research analysts have recently weighed in on TRUE shares. JPMorgan Chase & Co. lowered TrueCar from an “overweight” rating to a “neutral” rating in a research note on Friday. B. Riley boosted their price target on TrueCar from $3.30 to $4.00 and gave the stock a “neutral” rating in a research note on Monday, November 11th. StockNews.com upgraded TrueCar from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Finally, Needham & Company LLC dropped their price target on TrueCar from $5.00 to $4.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th.

TrueCar Stock Performance

Shares of TrueCar stock opened at $2.50 on Friday. The company has a market capitalization of $217.40 million, a PE ratio of -7.35 and a beta of 1.75. The company has a 50-day simple moving average of $3.51 and a two-hundred day simple moving average of $3.55. TrueCar has a one year low of $2.48 and a one year high of $4.62.

TrueCar (NASDAQ:TRUE) last announced its earnings results on Tuesday, February 18th. The technology company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). The firm had revenue of $46.21 million during the quarter, compared to the consensus estimate of $47.30 million. TrueCar had a negative return on equity of 17.54% and a negative net margin of 17.68%. On average, equities analysts predict that TrueCar will post -0.19 earnings per share for the current fiscal year.

Institutional Investors Weigh In On TrueCar

Large investors have recently bought and sold shares of the company. Barclays PLC boosted its position in TrueCar by 169.2% in the third quarter. Barclays PLC now owns 130,062 shares of the technology company’s stock valued at $448,000 after buying an additional 81,745 shares during the last quarter. State Street Corp boosted its position in TrueCar by 0.9% in the third quarter. State Street Corp now owns 1,790,659 shares of the technology company’s stock valued at $6,178,000 after buying an additional 16,127 shares during the last quarter. BNP Paribas Financial Markets boosted its position in TrueCar by 15.2% in the third 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 during the last quarter. Geode Capital Management LLC boosted its position in TrueCar by 3.8% in 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 buying an additional 71,508 shares during the last quarter. Finally, Jane Street Group LLC boosted its position in TrueCar by 19.4% in the third quarter. Jane Street Group LLC now owns 99,586 shares of the technology company’s stock valued at $344,000 after buying an additional 16,163 shares during the last quarter. Hedge funds and other 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.