TrueCar, Inc. (NASDAQ:TRUE) Receives $3.19 Consensus PT from Brokerages

TrueCar, Inc. (NASDAQ:TRUE) has been assigned a consensus recommendation of “Hold” from the six brokerages that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $3.19.

A number of research analysts have recently commented on TRUE shares. Citigroup cut TrueCar to an “underweight” rating in a research report on Thursday, March 27th. Needham & Company LLC dropped their price target on TrueCar from $4.00 to $2.75 and set a “buy” rating on the stock in a research report on Tuesday, May 6th. Wall Street Zen cut TrueCar from a “buy” rating to a “hold” rating in a research report on Thursday, May 8th. JPMorgan Chase & Co. cut TrueCar from a “neutral” rating to an “underweight” rating in a research report on Thursday, March 27th. Finally, Lake Street Capital cut TrueCar from a “buy” rating to a “hold” rating and dropped their price target for the company from $5.00 to $1.50 in a research report on Tuesday, May 6th.

Institutional Trading of TrueCar

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Strs Ohio bought a new stake in shares of TrueCar during the 1st quarter valued at $38,000. Acadian Asset Management LLC raised its stake in shares of TrueCar by 22.2% during the 1st quarter. Acadian Asset Management LLC now owns 2,753,300 shares of the technology company’s stock valued at $4,346,000 after purchasing an additional 500,804 shares during the period. Jane Street Group LLC bought a new stake in shares of TrueCar during the 1st quarter valued at $234,000. Goldman Sachs Group Inc. raised its stake in shares of TrueCar by 4.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 387,829 shares of the technology company’s stock valued at $613,000 after purchasing an additional 16,822 shares during the period. Finally, AQR Capital Management LLC raised its stake in shares of TrueCar by 332.9% during the 1st quarter. AQR Capital Management LLC now owns 59,791 shares of the technology company’s stock valued at $94,000 after purchasing an additional 45,980 shares during the period. 79.44% of the stock is currently owned by institutional investors.

TrueCar Trading Down 4.0%

TRUE stock opened at $1.45 on Friday. TrueCar has a 1-year low of $1.05 and a 1-year high of $4.62. The stock’s fifty day simple moving average is $1.49 and its two-hundred day simple moving average is $2.66. The stock has a market cap of $127.13 million, a P/E ratio of -4.26 and a beta of 2.13.

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.