TrueCar, Inc. (NASDAQ:TRUE) Receives $4.63 Average PT from Brokerages

Shares of TrueCar, Inc. (NASDAQ:TRUE) have been given a consensus rating of “Hold” by the six analysts that are covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $4.63.

Several analysts have recently commented on the company. StockNews.com downgraded TrueCar from a “strong-buy” rating to a “buy” rating in a research note on Friday, February 28th. Citigroup cut TrueCar to an “underweight” rating in a research note on Thursday, March 27th. JPMorgan Chase & Co. lowered TrueCar from a “neutral” rating to an “underweight” rating in a research report on Thursday, March 27th. Finally, Needham & Company LLC reduced their price target 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.

TrueCar Price Performance

Shares of TrueCar stock opened at $1.28 on Friday. The firm has a market cap of $112.02 million, a price-to-earnings ratio of -3.76 and a beta of 1.97. The stock’s 50-day moving average is $1.99 and its 200 day moving average is $3.17. TrueCar has a one year low of $1.25 and a one year high of $4.62.

TrueCar (NASDAQ:TRUE) last announced its quarterly earnings data 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 analyst estimates of $47.30 million. TrueCar had a negative return on equity of 17.54% and a negative net margin of 17.68%. On average, sell-side analysts expect that TrueCar will post -0.19 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the stock. SkyView Investment Advisors LLC lifted its stake in 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 acquiring an additional 3,510 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of TrueCar by 3.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 143,749 shares of the technology company’s stock valued at $537,000 after purchasing an additional 5,089 shares during the last quarter. ProShare Advisors LLC lifted its position in shares of TrueCar by 49.0% during the fourth quarter. ProShare Advisors LLC now owns 24,123 shares of the technology company’s stock valued at $90,000 after purchasing an additional 7,938 shares in the last quarter. BNP Paribas Financial Markets boosted its holdings in TrueCar by 15.2% during the third quarter. BNP Paribas Financial Markets now owns 60,942 shares of the technology company’s stock worth $210,000 after purchasing an additional 8,027 shares during the last quarter. Finally, Two Sigma Advisers LP grew its position in TrueCar by 43.5% in the 4th quarter. Two Sigma Advisers LP now owns 33,000 shares of the technology company’s stock worth $123,000 after purchasing an additional 10,000 shares in the last quarter. Institutional investors own 79.44% of the company’s stock.

About TrueCar

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.