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

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

A number of other brokerages have also recently commented on TRUE. BTIG Research lifted 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. Needham & Company LLC reiterated a “buy” rating and issued a $5.00 price objective on shares of TrueCar in a report on Tuesday, November 26th. B. Riley increased their target price on TrueCar from $3.30 to $4.00 and gave the company a “neutral” rating in a report on Monday, November 11th. Finally, Lake Street Capital began coverage on TrueCar in a research note on Monday, October 7th. They issued a “buy” rating and a $6.00 price target on the stock. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $4.88.

TrueCar Stock Up 4.8 %

Shares of TRUE stock opened at $4.57 on Tuesday. The business has a 50-day moving average price of $3.85 and a two-hundred day moving average price of $3.36. TrueCar has a 12-month low of $2.56 and a 12-month high of $4.59. The firm has a market cap of $397.41 million, a P/E ratio of -15.76 and a beta of 1.75.

TrueCar (NASDAQ:TRUE) last issued its earnings results on Wednesday, November 6th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts’ expectations of $45.82 million. During the same period in the prior year, the company earned ($0.07) EPS. As a group, research analysts expect that TrueCar will post -0.3 EPS for the current fiscal year.

Institutional Trading of TrueCar

Several large investors have recently modified their holdings of TRUE. Vanguard Group Inc. lifted its holdings in TrueCar by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 4,276,548 shares of the technology company’s stock worth $14,497,000 after buying an additional 41,592 shares during the period. Boston Partners raised its holdings in shares of TrueCar by 28.4% during the first quarter. Boston Partners now owns 131,053 shares of the technology company’s stock valued at $444,000 after acquiring an additional 29,025 shares in the last quarter. Assenagon Asset Management S.A. purchased a new stake in TrueCar in the second quarter worth $210,000. Bank of New York Mellon Corp increased its position in TrueCar by 11.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 332,775 shares of the technology company’s stock valued at $1,042,000 after purchasing an additional 34,045 shares during the period. Finally, Acadian Asset Management LLC raised its holdings in TrueCar by 0.6% in the 2nd quarter. Acadian Asset Management LLC now owns 2,132,154 shares of the technology company’s stock worth $6,671,000 after purchasing an additional 12,956 shares in the last quarter. 79.44% 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.