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

TrueCar (NASDAQ:TRUE) was downgraded by stock analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Monday.

TRUE has been the topic of several other reports. B. Riley upped their target price on shares of TrueCar from $3.30 to $4.00 and gave the stock a “neutral” rating in a research report on Monday, November 11th. Lake Street Capital began coverage on shares of TrueCar in a research report on Monday, October 7th. They set a “buy” rating and a $6.00 target price on the stock. BTIG Research upped their target price 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. Finally, Needham & Company LLC lowered their target price on shares of TrueCar from $4.00 to $3.75 and set a “buy” rating on the stock in a research report on Tuesday, August 6th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $4.56.

TrueCar Trading Down 2.1 %

Shares of TrueCar stock traded down $0.09 on Monday, reaching $4.14. 208,244 shares of the stock were exchanged, compared to its average volume of 235,170. TrueCar has a 1-year low of $2.56 and a 1-year high of $4.53. The business has a fifty day moving average price of $3.71 and a two-hundred day moving average price of $3.29. The firm has a market capitalization of $360.01 million, a PE ratio of -14.28 and a beta of 1.83.

TrueCar (NASDAQ:TRUE) last issued its quarterly 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 firm had revenue of $46.54 million for the quarter, compared to analyst estimates of $45.82 million. During the same quarter last year, the firm earned ($0.07) earnings per share. Research analysts expect that TrueCar will post -0.3 EPS for the current year.

Hedge Funds Weigh In On TrueCar

Several institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of TrueCar by 1.0% during the first quarter. Vanguard Group Inc. now owns 4,276,548 shares of the technology company’s stock valued at $14,497,000 after buying an additional 41,592 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of TrueCar by 0.8% during the second quarter. Dimensional Fund Advisors LP now owns 3,253,582 shares of the technology company’s stock valued at $10,183,000 after buying an additional 25,541 shares during the period. Acadian Asset Management LLC lifted its stake in shares of TrueCar by 0.6% during the second quarter. Acadian Asset Management LLC now owns 2,132,154 shares of the technology company’s stock valued at $6,671,000 after buying an additional 12,956 shares during the period. Renaissance Technologies LLC lifted its stake in shares of TrueCar by 0.3% during the second quarter. Renaissance Technologies LLC now owns 2,123,601 shares of the technology company’s stock valued at $6,647,000 after buying an additional 6,800 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of TrueCar by 3.8% during 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 period. 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.