TrueCar, Inc. (NASDAQ:TRUE) Given Average Rating of “Reduce” by Analysts

Shares of TrueCar, Inc. (NASDAQ:TRUE) have been assigned a consensus rating of “Reduce” from the seven analysts that are currently covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell rating and five have issued a hold rating on the company. The average 12-month price objective among analysts that have issued a report on the stock in the last year is $2.65.

TRUE has been the subject of a number of analyst reports. Lake Street Capital increased their price objective on TrueCar from $2.00 to $2.55 and gave the company a “hold” rating in a research note on Thursday, October 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of TrueCar in a research report on Wednesday, January 21st. JPMorgan Chase & Co. raised shares of TrueCar from an “underweight” rating to a “neutral” rating in a report on Thursday, October 16th. Finally, BTIG Research reaffirmed a “neutral” rating on shares of TrueCar in a research note on Thursday, January 22nd.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of TrueCar in the 3rd quarter worth approximately $29,000. BNP Paribas Financial Markets lifted its stake in TrueCar by 89.5% in the third quarter. BNP Paribas Financial Markets now owns 15,827 shares of the technology company’s stock worth $29,000 after acquiring an additional 7,475 shares during the period. M&T Bank Corp bought a new stake in TrueCar in the fourth quarter valued at $32,000. Strs Ohio purchased a new position in TrueCar during the 1st quarter valued at $38,000. Finally, SG Americas Securities LLC purchased a new position in TrueCar during the 3rd quarter valued at $41,000. Institutional investors own 79.44% of the company’s stock.

TrueCar Price Performance

Shares of TRUE stock opened at $2.55 on Thursday. The business has a 50-day moving average of $2.28 and a 200 day moving average of $2.14. TrueCar has a 1-year low of $1.05 and a 1-year high of $3.83. The stock has a market capitalization of $226.35 million, a PE ratio of -11.57 and a beta of 2.22.

TrueCar Company Profile

TrueCar, Inc operates a digital automotive marketplace designed to streamline the vehicle buying and selling process in the United States. Through its online platform, TrueCar provides prospective car buyers with transparent pricing information, real‐time market data and guaranteed savings from a network of certified dealers. The company’s core offerings include pricing analytics, dealer inventory listings and a purchase–price guarantee that aims to reduce the negotiation burden typically associated with new and used vehicle transactions.

Founded in 2005 under the name Zag.com by entrepreneur Scott Painter, the company rebranded as TrueCar in 2010 and subsequently completed its initial public offering in 2014.