TrueCar, Inc. (NASDAQ:TRUE) Receives Average Rating of "Reduce" from Analysts

TrueCar, Inc. (NASDAQ:TRUE - Get Free Report) has received a consensus recommendation of "Reduce" from the seven ratings firms that are presently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $2.65.A number of brokerages recently weighed in on TRUE. JPMorgan Chase & Co. upgraded shares of TrueCar from an "underweight" rating to a "neutral" rating in a report on Thursday, October 16th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of TrueCar in a report on Wednesday, October 8th. Lake Street Capital raised their target price on shares of TrueCar from $2.00 to $2.55 and gave the company a "hold" rating in a research note on Thursday, October 16th. BTIG Research downgraded TrueCar from a "buy" rating to a "hold" rating in a research report on Monday, October 20th. Finally, Needham & Company LLC restated a "hold" rating on shares of TrueCar in a research note on Tuesday, October 7th.Check Out Our Latest Research Report on TrueCarInstitutional Trading of TrueCarHedge funds and other institutional investors have recently modified their holdings of the stock. Nuveen LLC acquired a new position in TrueCar in the 1st quarter valued at about $399,000. Russell Investments Group Ltd. raised its holdings in TrueCar by 8.0% in the 1st quarter. Russell Investments Group Ltd. now owns 747,593 shares of the technology company's stock valued at $1,181,000 after acquiring an additional 55,088 shares in the last quarter. American Century Companies Inc. lifted its position in shares of TrueCar by 8.4% during the 1st quarter. American Century Companies Inc. now owns 160,127 shares of the technology company's stock valued at $253,000 after acquiring an additional 12,344 shares during the period. Algert Global LLC bought a new stake in shares of TrueCar during the 1st quarter valued at $30,000. Finally, AQR Capital Management LLC grew its holdings in shares of TrueCar by 332.9% during the 1st quarter. AQR Capital Management LLC now owns 59,791 shares of the technology company's stock worth $94,000 after purchasing an additional 45,980 shares in the last quarter. Institutional investors own 79.44% of the company's stock. TrueCar Trading Up 3.2%Shares of TRUE opened at $2.26 on Wednesday. TrueCar has a 12 month low of $1.05 and a 12 month high of $4.26. The firm has a fifty day simple moving average of $2.16 and a 200 day simple moving average of $2.00. The stock has a market capitalization of $201.00 million, a price-to-earnings ratio of -10.27 and a beta of 2.22. 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.Featured StoriesFive stocks we like better than TrueCarOverbought Stocks Explained: Should You Trade Them?AI Chips Can’t Exist Without These 2 Underrated Tech GiantsWhat Does Downgrade Mean in Investing?Why Taiwan Semiconductor's 6.5% Dip Could Be a Smart BuyMost active stocks: Dollar volume vs share volumeRTX Surges to Record Highs as Defense Orders ExplodeThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. 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 Reduce rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here