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

StockNews.com lowered shares of TrueCar (NASDAQ:TRUE) from a buy rating to a hold rating in a research report released on Monday.

TRUE has been the topic of several other reports. BTIG Research boosted their price target on shares of TrueCar from $3.75 to $4.50 and gave the stock a “buy” rating in a research report on Tuesday, October 22nd. Lake Street Capital assumed coverage on shares of TrueCar in a research report on Monday, October 7th. They set a “buy” rating and a $6.00 price target on the stock. B. Riley increased their price target on TrueCar from $3.30 to $4.00 and gave the company a “neutral” rating in a research note on Monday, November 11th. Finally, Needham & Company LLC reduced 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. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $4.88.

TrueCar Trading Up 3.1 %

NASDAQ TRUE opened at $4.35 on Monday. The company has a market capitalization of $378.28 million, a price-to-earnings ratio of -15.00 and a beta of 1.83. The stock’s 50 day moving average is $3.76 and its two-hundred day moving average is $3.31. TrueCar has a 1-year low of $2.56 and a 1-year high of $4.53.

TrueCar (NASDAQ:TRUE) last announced its earnings results 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). TrueCar had a negative return on equity of 14.33% and a negative net margin of 15.88%. The company had revenue of $46.54 million for the quarter, compared to analyst estimates of $45.82 million. During the same quarter in the previous year, the company posted ($0.07) earnings per share. On average, analysts predict that TrueCar will post -0.3 earnings per share for the current year.

Institutional Trading of TrueCar

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Bank of Montreal Can raised its position in TrueCar by 769.9% in the 2nd quarter. Bank of Montreal Can now owns 416,063 shares of the technology company’s stock valued at $1,319,000 after buying an additional 368,234 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in TrueCar by 11.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 332,775 shares of the technology company’s stock worth $1,042,000 after acquiring an additional 34,045 shares during the last quarter. Vanguard Group Inc. raised its position in shares of TrueCar by 1.0% in the first quarter. Vanguard Group Inc. now owns 4,276,548 shares of the technology company’s stock valued at $14,497,000 after purchasing an additional 41,592 shares during the period. Squarepoint Ops LLC grew its position in shares of TrueCar by 182.5% in the second quarter. Squarepoint Ops LLC now owns 83,538 shares of the technology company’s stock valued at $261,000 after purchasing an additional 53,965 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in TrueCar during the 2nd quarter worth approximately $210,000. 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.