TrueCar, Inc. (TRUE) Receives Consensus Recommendation of “Hold” from Analysts
TrueCar, Inc. (NASDAQ:TRUE) has been assigned a consensus rating of “Hold” from the twelve brokerages that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. The average 12 month target price among analysts that have covered the stock in the last year is $17.44.
A number of research analysts have commented on the company. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $23.00 target price (up previously from $22.00) on shares of TrueCar in a report on Thursday, August 10th. B. Riley reaffirmed a “buy” rating and set a $21.00 target price on shares of TrueCar in a report on Monday, August 21st. Cowen reaffirmed a “hold” rating and set a $15.00 target price on shares of TrueCar in a report on Thursday, August 17th. Zacks Investment Research downgraded TrueCar from a “hold” rating to a “sell” rating in a report on Friday, October 6th. Finally, Morgan Stanley raised TrueCar from an “underweight” rating to an “equal weight” rating and set a $13.00 target price on the stock in a report on Monday, October 2nd.
In related news, SVP John Pierantoni sold 3,964 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $16.56, for a total value of $65,643.84. Following the sale, the senior vice president now owns 67,589 shares of the company’s stock, valued at approximately $1,119,273.84. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Neeraj Gunsagar sold 1,882 shares of the firm’s stock in a transaction that occurred on Monday, October 16th. The stock was sold at an average price of $15.22, for a total value of $28,644.04. The disclosure for this sale can be found here. In the last three months, insiders sold 20,017 shares of company stock worth $326,288. Company insiders own 15.50% of the company’s stock.
TrueCar (NASDAQ:TRUE) opened at $11.79 on Friday. The company has a quick ratio of 6.31, a current ratio of 6.31 and a debt-to-equity ratio of 0.09. TrueCar has a 1-year low of $10.16 and a 1-year high of $21.75.
TrueCar, Inc is an Internet-based information, technology, and communication services company. The Company has a data-driven online platform, which features market data and analytics. The Company-branded platform is available on its TrueCar Website and mobile applications. It customizes and operates its platform on a co-branded basis for its affinity group marketing partners, including financial institutions, membership-based organizations, and employee buying programs for a range of enterprises.
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