Analysts Set TrueCar, Inc. (NASDAQ:TRUE) Target Price at $4.63

Shares of TrueCar, Inc. (NASDAQ:TRUE) have earned an average rating of “Moderate Buy” from the five research firms that are presently covering the stock, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $4.63.

Several research analysts recently commented on TRUE shares. JPMorgan Chase & Co. downgraded shares of TrueCar from an “overweight” rating to a “neutral” rating in a report on Friday, February 21st. StockNews.com downgraded shares of TrueCar from a “strong-buy” rating to a “buy” rating in a research note on Friday. B. Riley lifted their target price on shares of TrueCar from $3.30 to $4.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. Finally, Needham & Company LLC lowered their price objective on TrueCar from $5.00 to $4.00 and set a “buy” rating on the stock in a research note on Wednesday, February 19th.

Institutional Trading of TrueCar

Hedge funds have recently modified their holdings of the stock. Barclays PLC lifted its position in TrueCar by 169.2% during the 3rd quarter. Barclays PLC now owns 130,062 shares of the technology company’s stock valued at $448,000 after purchasing an additional 81,745 shares during the period. State Street Corp raised its stake in shares of TrueCar by 0.9% in the 3rd quarter. State Street Corp now owns 1,790,659 shares of the technology company’s stock valued at $6,178,000 after purchasing an additional 16,127 shares during the period. BNP Paribas Financial Markets boosted its position in TrueCar by 15.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 60,942 shares of the technology company’s stock worth $210,000 after acquiring an additional 8,027 shares during the last quarter. Geode Capital Management LLC grew 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 purchasing an additional 71,508 shares in the last quarter. Finally, Jane Street Group LLC boosted its position in TrueCar by 19.4% during the third quarter. Jane Street Group LLC now owns 99,586 shares of the technology company’s stock valued at $344,000 after purchasing an additional 16,163 shares during the last quarter. 79.44% of the stock is owned by institutional investors.

TrueCar Stock Performance

NASDAQ TRUE opened at $2.25 on Friday. TrueCar has a 1 year low of $2.16 and a 1 year high of $4.62. The stock has a market capitalization of $196.33 million, a P/E ratio of -6.62 and a beta of 1.75. The business’s fifty day moving average is $3.38 and its two-hundred day moving average is $3.53.

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). The company had revenue of $46.21 million for the quarter, compared to analysts’ expectations of $47.30 million. TrueCar had a negative net margin of 17.68% and a negative return on equity of 17.54%. On average, research analysts forecast that TrueCar will post -0.19 earnings per share for the current 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.