TrueCar (NASDAQ:TRUE) Upgraded at Zacks Investment Research

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Zacks Investment Research upgraded shares of TrueCar (NASDAQ:TRUE) from a strong sell rating to a hold rating in a research note released on Thursday morning, Zacks.com reports.

According to Zacks, “TrueCar Inc. engages in developing and publishing an online automotive information and communications platform. The Company operates its company-branded platform on its TrueCar.com Website. It enables users to obtain market-based pricing data on new and used cars, as well as to connect with its network of TrueCar certified dealers. TrueCar, Inc. is based in Santa Monica, California. “

A number of other research analysts also recently weighed in on the company. Needham & Company LLC began coverage on TrueCar in a research note on Thursday, September 12th. They issued a hold rating for the company. ValuEngine upgraded TrueCar from a sell rating to a hold rating in a research note on Thursday, August 1st. TheStreet downgraded TrueCar from a c- rating to a d rating in a research note on Thursday, August 8th. Citigroup decreased their price target on TrueCar from $7.00 to $4.50 and set a neutral rating for the company in a research note on Friday, August 9th. Finally, Cowen set a $5.00 price target on TrueCar and gave the company a hold rating in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating and eleven have assigned a hold rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $8.01.

TRUE stock traded up $0.06 during mid-day trading on Thursday, reaching $3.26. The company had a trading volume of 1,025,953 shares, compared to its average volume of 1,520,286. The company has a debt-to-equity ratio of 0.12, a current ratio of 3.09 and a quick ratio of 3.09. The stock has a 50 day simple moving average of $3.70 and a two-hundred day simple moving average of $5.21. The company has a market capitalization of $346.15 million, a price-to-earnings ratio of -12.54 and a beta of 1.35. TrueCar has a 52 week low of $3.01 and a 52 week high of $12.40.

TrueCar (NASDAQ:TRUE) last posted its quarterly earnings results on Thursday, August 8th. The technology company reported ($0.02) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.08) by $0.06. The firm had revenue of $88.08 million during the quarter, compared to the consensus estimate of $89.20 million. TrueCar had a negative return on equity of 11.45% and a negative net margin of 14.25%. The business’s revenue was up .3% compared to the same quarter last year. During the same period last year, the company earned $0.03 earnings per share. On average, equities analysts predict that TrueCar will post -0.67 EPS for the current year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Advisory Services Network LLC acquired a new stake in shares of TrueCar in the second quarter valued at approximately $60,000. Stone Ridge Asset Management LLC acquired a new stake in shares of TrueCar in the second quarter valued at approximately $67,000. NumerixS Investment Technologies Inc acquired a new stake in shares of TrueCar in the first quarter valued at approximately $156,000. Balyasny Asset Management LLC acquired a new stake in shares of TrueCar in the second quarter valued at approximately $196,000. Finally, Marshall Wace North America L.P. acquired a new stake in shares of TrueCar in the first quarter valued at approximately $219,000. 90.71% of the stock is owned by institutional investors.

About TrueCar

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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