The stock of TrueCar Inc (NASDAQ:TRUE) is a huge mover today! About 421,556 shares traded hands. TrueCar Inc (NASDAQ:TRUE) has risen 94.06% since April 13, 2016 and is uptrending. It has outperformed by 90.13% the S&P500.
The move comes after 6 months positive chart setup for the $1.03B company. It was reported on Nov, 15 by Barchart.com. We have $19.19 PT which if reached, will make NASDAQ:TRUE worth $576.80 million more.
TrueCar Inc (NASDAQ:TRUE) Ratings Coverage
Out of 11 analysts covering TrueCar (NASDAQ:TRUE), 2 rate it a “Buy”, 1 “Sell”, while 8 “Hold”. This means 18% are positive. TrueCar has been the topic of 22 analyst reports since July 24, 2015 according to StockzIntelligence Inc. The rating was downgraded by JMP Securities on Friday, February 19 to “Mkt Perform”. Craig Hallum upgraded the stock to “Buy” rating in Friday, November 4 report. On Tuesday, April 5 the stock rating was initiated by Topeka Capital Markets with “Hold”. As per Friday, August 7, the company rating was maintained by B Riley. B. Riley & Co upgraded TrueCar Inc (NASDAQ:TRUE) on Tuesday, August 30 to “Neutral” rating. Goldman Sachs downgraded the stock to “Neutral” rating in Friday, July 24 report. The company was downgraded on Friday, July 24 by Craig Hallum. The firm has “Sector Perform” rating given on Friday, February 19 by RBC Capital Markets. The stock of TrueCar Inc (NASDAQ:TRUE) earned “Buy” rating by Loop Capital on Friday, November 4. On Friday, July 24 the stock rating was downgraded by RBC Capital Markets to “Sector Perform”.
According to Zacks Investment Research, “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.”
Insitutional Activity: The institutional sentiment decreased to 1.1 in 2016 Q2. Its down 0.46, from 1.56 in 2016Q1. The ratio is negative, as 13 funds sold all TrueCar Inc shares owned while 17 reduced positions. 5 funds bought stakes while 28 increased positions. They now own 40.78 million shares or 2.84% more from 39.66 million shares in 2016Q1.
Moreover, Manufacturers Life Insurance The has 0% invested in TrueCar Inc (NASDAQ:TRUE) for 38,809 shares. Creative Planning holds 8,000 shares or 0% of its portfolio. Quantitative Inv Ltd Liability Corp has 17,100 shares for 0.01% of their US portfolio. Nationwide Fund Advsrs has invested 0% of its portfolio in TrueCar Inc (NASDAQ:TRUE). Rhumbline Advisers holds 50,681 shares or 0% of its portfolio. Vanguard Gp holds 3.80M shares or 0% of its portfolio. Blackrock Fund Advsr has invested 0% of its portfolio in TrueCar Inc (NASDAQ:TRUE). Legal And General Group Public Limited Liability Co has invested 0% of its portfolio in TrueCar Inc (NASDAQ:TRUE). Blackrock Institutional Tru Company Na reported 1.33 million shares or 0% of all its holdings. Caledonia (Private) Invs Pty Ltd has invested 0.61% of its portfolio in TrueCar Inc (NASDAQ:TRUE). Tci Wealth Advsrs Inc accumulated 0.02% or 4,000 shares. Voya Invest Ltd holds 0% of its portfolio in TrueCar Inc (NASDAQ:TRUE) for 24,457 shares. Blackrock Group Limited accumulated 0% or 18,141 shares. Moreover, Hillhouse Capital Ltd has 0.08% invested in TrueCar Inc (NASDAQ:TRUE) for 426,667 shares. Dimensional Fund Advisors Lp has 0% invested in the company for 65,733 shares.
TRUE Company Profile
TrueCar, Inc., incorporated on February 25, 2005, offers a diverse software ecosystem for buying cars. The Company’s software ecosystem is based on a common technology infrastructure, and powered by data and analytics. The Firm operates its platform on the TrueCar Website and its branded mobile experience. The Firm also customizes and operates its platform on a co-branded basis for its affinity group marketing partners, including financial institutions, membership organizations, and employee buying programs for enterprises. The Company’s network of approximately 11,000 TrueCar Certified Dealers consists primarily of new car franchises, as well as independent dealers selling used vehicles.
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