TrueCar (NASDAQ:TRUE) Downgraded by JPMorgan Chase & Co. to Underweight

TrueCar (NASDAQ:TRUE) was downgraded by analysts at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a research note issued to investors on Thursday,Briefing.com Automated Import reports.

A number of other research analysts have also commented on TRUE. StockNews.com lowered TrueCar from a “strong-buy” rating to a “buy” rating in a report on Friday, February 28th. Needham & Company LLC cut their target price on shares of TrueCar from $5.00 to $4.00 and set a “buy” rating for the company in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $4.63.

TrueCar Stock Performance

Shares of TRUE opened at $1.79 on Thursday. The company has a market capitalization of $156.19 million, a PE ratio of -5.26 and a beta of 1.72. The company’s 50 day moving average price is $2.76 and its 200 day moving average price is $3.41. TrueCar has a 52 week low of $1.68 and a 52 week high of $4.62.

TrueCar (NASDAQ:TRUE) last issued 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). TrueCar had a negative net margin of 17.68% and a negative return on equity of 17.54%. The business had revenue of $46.21 million for the quarter, compared to the consensus estimate of $47.30 million. On average, equities analysts forecast that TrueCar will post -0.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On TrueCar

A number of hedge funds have recently modified their holdings of the stock. Intech Investment Management LLC bought a new stake in TrueCar in the third quarter valued at $36,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of TrueCar in the 3rd quarter worth about $43,000. R Squared Ltd acquired a new stake in shares of TrueCar during the 4th quarter worth about $49,000. Straightline Group LLC acquired a new stake in shares of TrueCar during the 4th quarter worth about $69,000. Finally, ProShare Advisors LLC lifted its holdings in TrueCar by 49.0% during the 4th quarter. ProShare Advisors LLC now owns 24,123 shares of the technology company’s stock valued at $90,000 after purchasing an additional 7,938 shares during the last quarter. 79.44% of the stock is 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.