TrueCar (NASDAQ:TRUE) Stock Rating Upgraded by StockNews.com

TrueCar (NASDAQ:TRUE - Get Free Report) was upgraded by equities researchers at StockNews.com from a "buy" rating to a "strong-buy" rating in a research note issued on Thursday.Several other equities research analysts have also weighed in on the company. Needham & Company LLC dropped their target price on TrueCar from $5.00 to $4.00 and set a "buy" rating on the stock in a research report on Wednesday. B. Riley upped their price target on shares of TrueCar from $3.30 to $4.00 and gave the stock a "neutral" rating in a research report on Monday, November 11th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, TrueCar has a consensus rating of "Buy" and a consensus target price of $4.63.View Our Latest Research Report on TRUETrueCar Stock Down 4.3 %Shares of TrueCar stock traded down $0.12 on Thursday, hitting $2.67. 755,478 shares of the company's stock traded hands, compared to its average volume of 290,729. TrueCar has a 52-week low of $2.50 and a 52-week high of $4.62. The stock has a market cap of $232.18 million, a P/E ratio of -7.85 and a beta of 1.75. The firm's 50-day moving average is $3.58 and its 200 day moving average is $3.55. TrueCar (NASDAQ:TRUE - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The technology company reported ($0.07) EPS for the quarter, missing analysts' consensus estimates of ($0.06) by ($0.01). TrueCar had a negative return on equity of 17.54% and a negative net margin of 17.68%. The firm had revenue of $46.21 million during the quarter, compared to analyst estimates of $47.30 million. Equities research analysts forecast that TrueCar will post -0.19 EPS for the current year. Hedge Funds Weigh In On TrueCarSeveral large investors have recently bought and sold shares of the stock. Raymond James Financial Inc. bought a new stake in TrueCar during the fourth quarter worth approximately $930,000. Arrowstreet Capital Limited Partnership boosted its stake in TrueCar by 75.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 521,467 shares of the technology company's stock valued at $1,945,000 after purchasing an additional 224,969 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of TrueCar by 113.0% in the 4th quarter. JPMorgan Chase & Co. now owns 321,378 shares of the technology company's stock worth $1,199,000 after buying an additional 170,475 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in shares of TrueCar in the fourth quarter valued at $477,000. Finally, Millennium Management LLC bought a new position in TrueCar during the fourth quarter valued at about $420,000. Institutional investors and hedge funds own 79.44% of the company's stock. About TrueCar (Get Free Report)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.Further ReadingFive stocks we like better than TrueCarWhat Are the U.K. Market Holidays? How to Invest and TradeRay Dalio's Bridgewater Loaded Up on These Stocks in Q4 2024Differences Between Momentum Investing and Long Term Investing Walmart Faces Tariff Headwinds, Consumer Trends Remain PositiveHow to Use the MarketBeat Stock Screener Tesla: 2 Reasons to Buy, 1 Reason to RunThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in TrueCar Right Now?Before you consider TrueCar, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and TrueCar wasn't on the list.While TrueCar currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here