StockNews.com Upgrades TrueCar (NASDAQ:TRUE) to Strong-Buy

TrueCar (NASDAQ:TRUE) was upgraded by equities research analysts at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued to investors on Thursday.

A number of other research analysts have also recently issued reports on the stock. Needham & Company LLC decreased their price objective on shares of TrueCar from $5.00 to $4.00 and set a “buy” rating for the company in a report on Wednesday. B. Riley upped their price objective on shares of TrueCar from $3.30 to $4.00 and gave the company a “neutral” rating in a research report on Monday, November 11th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, TrueCar currently has an average rating of “Buy” and an average target price of $4.63.

TrueCar Trading Down 4.3 %

NASDAQ TRUE traded down $0.12 on Thursday, hitting $2.67. 755,478 shares of the company were exchanged, compared to its average volume of 290,729. The company has a market cap of $232.18 million, a P/E ratio of -7.85 and a beta of 1.75. TrueCar has a 1-year low of $2.50 and a 1-year high of $4.62. The firm has a 50 day moving average of $3.58 and a two-hundred day moving average of $3.55.

TrueCar (NASDAQ:TRUE) last released its earnings results on Tuesday, February 18th. The technology company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.01). The business had revenue of $46.21 million for 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 anticipate that TrueCar will post -0.19 EPS for the current fiscal year.

Institutional Investors Weigh In On TrueCar

Several large investors have recently made changes to their positions in TRUE. SkyView Investment Advisors LLC increased its stake in TrueCar by 1.8% in the 3rd quarter. SkyView Investment Advisors LLC now owns 203,695 shares of the technology company’s stock valued at $703,000 after buying an additional 3,510 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of TrueCar by 3.7% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 143,749 shares of the technology company’s stock worth $537,000 after buying an additional 5,089 shares during the last quarter. ProShare Advisors LLC grew its holdings in shares of TrueCar by 49.0% in the 4th quarter. ProShare Advisors LLC now owns 24,123 shares of the technology company’s stock valued at $90,000 after acquiring an additional 7,938 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of 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 acquiring an additional 8,027 shares during the last quarter. Finally, Two Sigma Advisers LP raised its holdings in TrueCar by 43.5% during 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. 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.