TrueCar, Inc. (NASDAQ:TRUE) has earned an average rating of “Hold” from the thirteen ratings firms that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, five have given a hold recommendation and five have given a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $16.64.
A number of research analysts have recently issued reports on the stock. DA Davidson started coverage on shares of TrueCar in a report on Wednesday, April 4th. They set a “neutral” rating and a $9.75 price objective for the company. ValuEngine lowered shares of TrueCar from a “sell” rating to a “strong sell” rating in a research report on Thursday, March 1st. Benchmark started coverage on shares of TrueCar in a research report on Thursday, March 22nd. They set a “buy” rating and a $18.00 price target on the stock. B. Riley reissued a “buy” rating and set a $18.00 price target on shares of TrueCar in a research report on Wednesday, January 24th. Finally, Stephens set a $18.00 price target on shares of TrueCar and gave the company a “buy” rating in a research report on Friday, February 16th.
Shares of NASDAQ TRUE traded up $0.25 during mid-day trading on Thursday, reaching $9.75. 892,806 shares of the company’s stock traded hands, compared to its average volume of 1,810,402. The stock has a market capitalization of $936.04, a P/E ratio of -36.11 and a beta of 2.59. TrueCar has a 1-year low of $8.88 and a 1-year high of $21.75. The company has a debt-to-equity ratio of 0.09, a current ratio of 6.41 and a quick ratio of 6.41.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC bought a new stake in TrueCar in the third quarter worth about $104,000. Xact Kapitalforvaltning AB bought a new stake in TrueCar in the fourth quarter worth about $132,000. Global Endowment Management LP bought a new stake in TrueCar in the fourth quarter worth about $133,000. Vident Investment Advisory LLC bought a new stake in TrueCar in the third quarter worth about $237,000. Finally, Quantitative Systematic Strategies LLC bought a new stake in TrueCar in the fourth quarter worth about $190,000. 88.74% of the stock is currently owned by institutional investors.
TrueCar Company Profile
TrueCar, Inc, together with its subsidiaries, 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. The company also customizes and operates its platform for its affinity group marketing partners, including financial institutions, membership-based organizations, and employee buying programs for large enterprises.
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