TrueCar (NASDAQ:TRUE) Given “Buy” Rating at Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of TrueCar (NASDAQ:TRUE) in a report published on Wednesday,Benzinga reports. Needham & Company LLC currently has a $5.00 price target on the technology company’s stock.

Several other equities analysts have also weighed in on the stock. Lake Street Capital initiated coverage on shares of TrueCar in a report on Monday, October 7th. They set a “buy” rating and a $6.00 target price on the stock. BTIG Research lifted their target price on shares of TrueCar from $3.75 to $4.50 and gave the company a “buy” rating in a report on Tuesday, October 22nd. B. Riley lifted their target price on shares of TrueCar from $3.30 to $4.00 and gave the company a “neutral” rating in a report on Monday, November 11th. Finally, StockNews.com upgraded shares of TrueCar from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $4.88.

TrueCar Trading Up 6.1 %

Shares of TRUE opened at $3.47 on Wednesday. The company’s fifty day moving average is $3.98 and its two-hundred day moving average is $3.56. TrueCar has a fifty-two week low of $2.56 and a fifty-two week high of $4.62.

TrueCar (NASDAQ:TRUE) last posted its earnings results on Wednesday, November 6th. The technology company reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.03). The business had revenue of $46.54 million for the quarter, compared to analyst estimates of $45.82 million. TrueCar had a negative net margin of 15.88% and a negative return on equity of 14.33%. During the same quarter in the previous year, the firm posted ($0.07) EPS. As a group, equities analysts forecast that TrueCar will post -0.3 EPS for the current fiscal year.

Hedge Funds Weigh In On TrueCar

A number of institutional investors have recently added to or reduced their stakes in the company. SkyView Investment Advisors LLC lifted its holdings in TrueCar by 1.8% in the 3rd quarter. SkyView Investment Advisors LLC now owns 203,695 shares of the technology company’s stock worth $703,000 after buying an additional 3,510 shares in the last quarter. Renaissance Technologies LLC increased its position in shares of TrueCar by 0.3% in the 2nd quarter. Renaissance Technologies LLC now owns 2,123,601 shares of the technology company’s stock worth $6,647,000 after purchasing an additional 6,800 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of TrueCar by 15.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 60,942 shares of the technology company’s stock worth $210,000 after purchasing an additional 8,027 shares during the last quarter. Intech Investment Management LLC bought a new stake in shares of TrueCar in the 3rd quarter worth about $36,000. Finally, American Century Companies Inc. increased its position in shares of TrueCar by 11.7% in the 2nd quarter. American Century Companies Inc. now owns 104,371 shares of the technology company’s stock worth $327,000 after purchasing an additional 10,900 shares during the last quarter. Institutional investors and hedge funds 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.