TrueCar (TRUE) : Analyst Rating Update

TrueCar (TRUE) : The consensus on TrueCar (TRUE) based on 7 analyst recommendation on the company stock is 3.29, which is interpreted as a Hold recommendation. Zacks Investment Research has issued a rank of 3 which endorses a Hold on the stock. However, 6 experts consider that the stocks earnings and the quoted price is in harmony, hence, they give it a Hold rating. 1 analyst sees the stock overvalued at current levels and advises a Strong Sell on the stock.

TrueCar (TRUE) : The most positive equity analysts on TrueCar (TRUE) expects the shares to touch $7, whereas, the least positive believes that the stock will trade at $4 in the short term. The company is covered by 5 Wall Street Brokerage Firms. The average price target for shares are $5.3 with an expected fluctuation of $1.3 from the mean.

TrueCar (NASDAQ:TRUE): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $7.79 and $7.77 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $8.15. The buying momentum continued till the end and the stock did not give up its gains. It closed at $7.95, notching a gain of 0.89% for the day. The total traded volume was 416,825 . The stock had closed at $7.88 on the previous day.

Also, Topeka Capital initiates coverage on TrueCar (NASDAQ:TRUE).The analysts at the brokerage house have a current rating of Hold on the shares. The rating by the firm was issued on April 5, 2016. The company shares have dropped -28.49% from its 1 Year high price. On Jul 10, 2015, the shares registered one year high at $11.44 and the one year low was seen on Aug 24, 2015. The 50-Day Moving Average price is $7.25 and the 200 Day Moving Average price is recorded at $6.54.

TrueCar, Inc. (TrueCar) is a data-driven online platform operating on a common technology infrastructure, powered by data and analytics. The Company operates its Company-branded platform on its Website. In addition, it customizes and operates its platform on a co-branded basis for its affinity group marketing partners, including financial institutions, such as USAA and American Express; membership-based organizations, such as Consumer Reports, AARP and AAA, and employee buying programs for enterprises, such as IBM and Walmart. The Company enables users to obtain market-based pricing data on new and used cars, and to connect with its network of TrueCar Certified Dealers. It also allows automobile manufacturers, known in the industry as original equipment manufacturers (OEMs), to connect with TrueCar users in the purchase process.

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