TrueCar (NASDAQ:TRUE) Given New $4.00 Price Target at Needham & Company LLC

TrueCar (NASDAQ:TRUE) had its price objective reduced by Needham & Company LLC from $5.00 to $4.00 in a report published on Wednesday morning,Benzinga reports. They currently have a buy rating on the technology company’s stock.

A number of other research analysts have also issued reports on TRUE. B. Riley boosted their target price on shares of TrueCar from $3.30 to $4.00 and gave the company a “neutral” rating in a research note on Monday, November 11th. BTIG Research boosted their target price on shares of TrueCar from $3.75 to $4.50 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. Finally, StockNews.com raised shares of TrueCar from a “hold” rating to a “buy” rating in a research note on Tuesday, December 3rd. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $4.63.

TrueCar Stock Performance

NASDAQ TRUE opened at $2.50 on Wednesday. TrueCar has a one year low of $2.48 and a one year high of $4.62. The company has a 50-day simple moving average of $3.55 and a 200-day simple moving average of $3.55. The firm has a market capitalization of $217.40 million, a PE ratio of -7.35 and a beta of 1.75.

TrueCar (NASDAQ:TRUE) last posted 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 firm 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%. Equities analysts forecast that TrueCar will post -0.19 earnings per share for the current year.

Institutional Trading of TrueCar

A number of institutional investors have recently made changes to their positions in TRUE. Intech Investment Management LLC acquired a new stake in shares of TrueCar in the 3rd quarter worth approximately $36,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of TrueCar in the 3rd quarter worth approximately $43,000. R Squared Ltd acquired a new stake in shares of TrueCar in the 4th quarter worth approximately $49,000. Straightline Group LLC acquired a new stake in shares of TrueCar in the 4th quarter worth approximately $69,000. Finally, ProShare Advisors LLC lifted its stake 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 worth $90,000 after acquiring an additional 7,938 shares during the period. 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.