TrueCar (NASDAQ:TRUE) Upgraded at StockNews.com

StockNews.com upgraded shares of TrueCar (NASDAQ:TRUE) from a hold rating to a buy rating in a research note released on Tuesday morning.

TRUE has been the subject of a number of other reports. Needham & Company LLC reiterated a “buy” rating and issued a $5.00 target price on shares of TrueCar in a research report on Tuesday, November 26th. Lake Street Capital assumed coverage on shares of TrueCar in a report on Monday, October 7th. They issued a “buy” rating and a $6.00 price objective for the company. B. Riley raised their target price on shares of TrueCar from $3.30 to $4.00 and gave the stock a “neutral” rating in a research note on Monday, November 11th. Finally, BTIG Research upped their price target on TrueCar from $3.75 to $4.50 and gave the company a “buy” rating in a research report on Tuesday, October 22nd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $4.88.

TrueCar Trading Down 2.1 %

TRUE stock opened at $4.30 on Tuesday. The business’s 50-day moving average is $3.89 and its 200 day moving average is $3.37. TrueCar has a 12-month low of $2.56 and a 12-month high of $4.62. The stock has a market cap of $373.93 million, a price-to-earnings ratio of -14.83 and a beta of 1.75.

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 during the quarter, compared to analyst estimates of $45.82 million. During the same period in the prior year, the firm earned ($0.07) earnings per share. As a group, equities analysts forecast that TrueCar will post -0.3 EPS for the current fiscal year.

Institutional Investors Weigh In On TrueCar

Several hedge funds and other institutional investors have recently bought and sold shares of TRUE. Intech Investment Management LLC purchased a new stake in shares of TrueCar in the 3rd quarter valued at approximately $36,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in TrueCar in the third quarter valued at approximately $43,000. SG Americas Securities LLC grew its position in TrueCar by 126.5% in the third quarter. SG Americas Securities LLC now owns 34,644 shares of the technology company’s stock worth $120,000 after acquiring an additional 19,349 shares during the period. Assenagon Asset Management S.A. acquired a new stake in TrueCar during the second quarter worth $210,000. Finally, BNP Paribas Financial Markets raised its position in TrueCar by 15.2% in the third quarter. BNP Paribas Financial Markets now owns 60,942 shares of the technology company’s stock valued at $210,000 after purchasing an additional 8,027 shares during the period. 79.44% of the stock is currently owned by institutional investors and hedge funds.

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.