Brokerages Set TrueCar, Inc. (NASDAQ:TRUE) Target Price at $2.65

TrueCar, Inc. (NASDAQ:TRUE) has received a consensus recommendation of “Reduce” from the seven research firms that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating and five have issued a hold rating on the company. The average 1-year price target among brokers that have covered the stock in the last year is $2.65.

Several research analysts have weighed in on the stock. Needham & Company LLC reissued a “hold” rating on shares of TrueCar in a report on Tuesday, October 7th. BTIG Research lowered TrueCar from a “buy” rating to a “hold” rating in a research note on Monday, October 20th. Weiss Ratings restated a “sell (d-)” rating on shares of TrueCar in a research note on Wednesday, October 8th. JPMorgan Chase & Co. raised TrueCar from an “underweight” rating to a “neutral” rating in a report on Thursday, October 16th. Finally, Lake Street Capital lifted their target price on TrueCar from $2.00 to $2.55 and gave the stock a “hold” rating in a report on Thursday, October 16th.

TrueCar Price Performance

Shares of TRUE opened at $2.12 on Friday. The company’s 50-day moving average is $2.11 and its 200-day moving average is $1.93. The firm has a market capitalization of $188.55 million, a PE ratio of -9.64 and a beta of 2.00. TrueCar has a fifty-two week low of $1.05 and a fifty-two week high of $4.62.

Institutional Trading of TrueCar

A number of institutional investors have recently bought and sold shares of TRUE. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of TrueCar during the third quarter worth approximately $29,000. BNP Paribas Financial Markets grew its position in TrueCar by 89.5% during the third quarter. BNP Paribas Financial Markets now owns 15,827 shares of the technology company’s stock worth $29,000 after buying an additional 7,475 shares in the last quarter. Algert Global LLC bought a new position in TrueCar during the 1st quarter worth $30,000. Kapitalo Investimentos Ltda acquired a new position in TrueCar in the 2nd quarter valued at $35,000. Finally, Strs Ohio bought a new stake in shares of TrueCar during the 1st quarter valued at $38,000. Institutional investors own 79.44% of the company’s stock.

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.