TrueCar (NASDAQ:TRUE) Stock Rating Lowered by JPMorgan Chase & Co.

TrueCar (NASDAQ:TRUE) was downgraded by JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research report issued to clients and investors on Friday,Finviz reports.

Several other equities research analysts have also recently commented on TRUE. StockNews.com upgraded TrueCar from a “buy” rating to a “strong-buy” rating in a research note on Thursday. Needham & Company LLC cut their price target on TrueCar from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, B. Riley upped 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. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, TrueCar currently has an average rating of “Moderate Buy” and an average price target of $4.63.

TrueCar Trading Down 4.3 %

TRUE stock opened at $2.67 on Friday. The company has a market capitalization of $232.18 million, a P/E ratio of -7.85 and a beta of 1.75. TrueCar has a twelve month low of $2.50 and a twelve month high of $4.62. The business has a 50 day simple moving average of $3.55 and a 200-day simple moving average of $3.55.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Mackenzie Financial Corp raised its position in TrueCar by 55.2% in the fourth quarter. Mackenzie Financial Corp now owns 34,044 shares of the technology company’s stock worth $127,000 after acquiring an additional 12,112 shares in the last quarter. Two Sigma Advisers LP raised its position in TrueCar by 43.5% in the fourth quarter. Two Sigma Advisers LP now owns 33,000 shares of the technology company’s stock worth $123,000 after acquiring an additional 10,000 shares in the last quarter. ProShare Advisors LLC raised its position in TrueCar by 49.0% in the fourth quarter. ProShare Advisors LLC now owns 24,123 shares of the technology company’s stock worth $90,000 after acquiring an additional 7,938 shares in the last quarter. Occudo Quantitative Strategies LP purchased a new position in TrueCar in the fourth quarter worth $111,000. Finally, Millennium Management LLC purchased a new position in TrueCar in the fourth quarter worth $420,000. Hedge funds and other 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.