TrueCar (NASDAQ:TRUE) Stock Rating Lowered by TheStreet

TrueCar (NASDAQ:TRUE) was downgraded by equities researchers at TheStreet from a “c-” rating to a “d+” rating in a report released on Thursday, TheStreetRatingsTable reports.

A number of other analysts have also recently commented on the company. BTIG Research upgraded TrueCar from a “neutral” rating to a “buy” rating in a research report on Monday, March 8th. Zacks Investment Research raised shares of TrueCar from a “hold” rating to a “buy” rating and set a $5.75 price objective for the company in a research report on Wednesday, March 3rd. The Goldman Sachs Group started coverage on shares of TrueCar in a report on Monday, January 25th. They issued a “neutral” rating for the company. Needham & Company LLC reaffirmed a “hold” rating on shares of TrueCar in a report on Friday, March 5th. Finally, Benchmark upgraded TrueCar from a “hold” rating to a “buy” rating and set a $8.00 price target for the company in a research note on Wednesday, March 3rd. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. TrueCar currently has an average rating of “Buy” and an average target price of $5.82.

Shares of TrueCar stock opened at $5.01 on Thursday. TrueCar has a 52-week low of $2.10 and a 52-week high of $6.47. The company has a 50-day simple moving average of $5.06 and a two-hundred day simple moving average of $4.72. The stock has a market capitalization of $493.46 million, a PE ratio of -29.47 and a beta of 1.38.

TrueCar (NASDAQ:TRUE) last posted its earnings results on Wednesday, February 24th. The technology company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.09. The business had revenue of $63.96 million during the quarter, compared to the consensus estimate of $60.31 million. TrueCar had a negative net margin of 6.11% and a negative return on equity of 0.67%. On average, research analysts forecast that TrueCar will post -0.29 earnings per share for the current fiscal year.

In related news, EVP Simon Edward Smith sold 11,000 shares of the stock in a transaction that occurred on Monday, March 15th. The stock was sold at an average price of $5.16, for a total value of $56,760.00. Following the completion of the sale, the executive vice president now owns 227,690 shares of the company’s stock, valued at $1,174,880.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders sold 19,798 shares of company stock valued at $102,670 over the last 90 days. Company insiders own 4.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TRUE. Dimensional Fund Advisors LP grew its position in shares of TrueCar by 5.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,606,420 shares of the technology company’s stock worth $10,948,000 after buying an additional 128,625 shares in the last quarter. Norges Bank acquired a new position in TrueCar in the fourth quarter valued at $2,405,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of TrueCar in the fourth quarter valued at approximately $2,091,000. JPMorgan Chase & Co. raised its holdings in TrueCar by 146.2% during the fourth quarter. JPMorgan Chase & Co. now owns 280,100 shares of the technology company’s stock worth $1,176,000 after purchasing an additional 166,351 shares in the last quarter. Finally, Jane Street Group LLC acquired a new position in TrueCar during the 4th quarter worth approximately $240,000. 89.54% of the stock is owned by institutional investors.

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.

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Analyst Recommendations for TrueCar (NASDAQ:TRUE)

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