The stock of TrueCar Inc (NASDAQ:TRUE) is a huge mover today! About 1.99M shares traded hands or 285.48% up from the average. TrueCar Inc (NASDAQ:TRUE) has risen 75.71% since April 4, 2016 and is uptrending. It has outperformed by 74.62% the S&P500.
The move comes after 6 months positive chart setup for the $900.21M company. It was reported on Nov, 4 by Barchart.com. We have $16.60 PT which if reached, will make NASDAQ:TRUE worth $504.12M 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 stock has “Mkt Perform” rating given by JMP Securities on Friday, February 19. As per Tuesday, April 5, the company rating was initiated by Topeka Capital Markets. On Friday, November 4 the stock rating was upgraded by Loop Capital to “Buy”. Loop Capital initiated TrueCar Inc (NASDAQ:TRUE) rating on Thursday, August 11. Loop Capital has “Hold” rating and $11 price target. The rating was downgraded by RBC Capital Markets on Friday, July 24 to “Sector Perform”. The firm has “Neutral” rating given on Tuesday, August 30 by B. Riley & Co. Goldman Sachs downgraded the shares of TRUE in a report on Friday, July 24 to “Neutral” rating. The stock of TrueCar Inc (NASDAQ:TRUE) earned “Buy” rating by Craig Hallum on Friday, November 4. The rating was downgraded by JP Morgan to “Neutral” on Friday, July 24. The firm has “Buy” rating given on Friday, July 24 by Craig Hallum.
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 Q2 2016. Its down 0.46, from 1.56 in 2016Q1. The ratio turned 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.
Blackrock Inv Mngmt Lc holds 0% or 200,482 shares in its portfolio. Tci Wealth holds 4,000 shares or 0.02% of its portfolio. Retail Bank Of New York Mellon, a New York-based fund reported 247,283 shares. Zurcher Kantonalbank (Zurich Cantonalbank) holds 0% of its portfolio in TrueCar Inc (NASDAQ:TRUE) for 643 shares. Oakmont last reported 1% of its portfolio in the stock. New York State Common Retirement Fund holds 0% or 44,700 shares in its portfolio. Goldman Sachs Gru Inc accumulated 0% or 72,133 shares. Morgan Stanley last reported 0.02% of its portfolio in the stock. Northern Tru Corp last reported 0% of its portfolio in the stock. Legal General Gp Public Limited Company owns 8,746 shares or 0% of their US portfolio. Wells Fargo Co Mn last reported 183,267 shares in the company. Parallax Volatility Advisers Limited Partnership last reported 74,610 shares in the company. Teacher Retirement Systems Of Texas has 6,380 shares for 0% of their US portfolio. Group One Trading Lp has 5,217 shares for 0% of their US portfolio. Fincl Architects has 11,000 shares for 0.02% of their US portfolio.
Another recent and important TrueCar Inc (NASDAQ:TRUE) news was published by Schaeffersresearch.com which published an article titled: “Analyst Upgrades: Skyworks Solutions Inc, Imperva Inc, and TrueCar Inc” on November 04, 2016.
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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