TrueCar, Inc. (NASDAQ:TRUE) Receives $2.65 Average PT from Analysts

TrueCar, Inc. (NASDAQ:TRUE) has received a consensus recommendation of “Reduce” from the seven analysts that are covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $2.65.

A number of research firms have weighed in on TRUE. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of TrueCar in a research note on Wednesday, January 21st. BTIG Research reissued a “neutral” rating on shares of TrueCar in a report on Thursday, January 22nd.

Hedge Funds Weigh In On TrueCar

Large investors have recently bought and sold shares of the company. Cerity Partners LLC bought a new stake in shares of TrueCar during the fourth quarter worth about $26,000. Mariner LLC acquired a new position in shares of TrueCar in the fourth quarter valued at approximately $31,000. M&T Bank Corp bought a new position in TrueCar in the 4th quarter valued at approximately $32,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in TrueCar in the 3rd quarter valued at approximately $29,000. Finally, BNP Paribas Financial Markets boosted its position in TrueCar by 89.5% during the 3rd 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 during the period. 79.44% of the stock is currently owned by institutional investors.

TrueCar Price Performance

TRUE stock opened at $2.54 on Monday. The stock has a market cap of $225.91 million, a price-to-earnings ratio of -11.55 and a beta of 2.22. The company has a 50 day simple moving average of $2.43 and a 200 day simple moving average of $2.24. TrueCar has a 1 year low of $1.05 and a 1 year high of $3.83.

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.