Price Don’t Lie: Is TrueCar Inc a Buy? The Stock Reaches 52-Week High Today

Price Don't Lie: Is TrueCar Inc a Buy? The Stock Reaches 52 Week High Today

The stock of TrueCar Inc (NASDAQ:TRUE) hit a new 52-week high and has $14.26 target or 28.00% above today’s $11.14 share price. The 7 months bullish chart indicates low risk for the $942.52M company. The 1-year high was reported on Nov, 7 by Barchart.com. If the $14.26 price target is reached, the company will be worth $263.91M more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 798,536 shares traded hands or 27.41% up from the average. TrueCar Inc (NASDAQ:TRUE) has risen 102.50% since April 5, 2016 and is uptrending. It has outperformed by 100.54% the S&P500.

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. Stephens downgraded it to “Equal Weight” rating and $9 target price in Friday, July 24 report. The stock has “Sector Perform” rating given by RBC Capital Markets on Friday, July 24. The stock of TrueCar Inc (NASDAQ:TRUE) has “Sell” rating given on Friday, August 7 by B Riley. On Tuesday, August 30 the stock rating was upgraded by B. Riley & Co to “Neutral”. The stock of TrueCar Inc (NASDAQ:TRUE) earned “Buy” rating by Loop Capital on Friday, November 4. The stock has “Sector Perform” rating given by RBC Capital Markets on Friday, November 6. The stock of TrueCar Inc (NASDAQ:TRUE) has “Neutral” rating given on Friday, July 24 by Goldman Sachs. On Friday, February 19 the stock rating was downgraded by JMP Securities to “Mkt Perform”. The firm earned “Hold” rating on Tuesday, April 5 by Topeka Capital Markets. Craig Hallum downgraded the stock to “Buy” rating in Friday, July 24 report.

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 worsened, 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.
Great West Life Assurance Co Can has invested 0% of its portfolio in TrueCar Inc (NASDAQ:TRUE). Citigroup holds 1,750 shares or 0% of its portfolio. State Street Corporation last reported 0% of its portfolio in the stock. Goldman Sachs Gp has invested 0% of its portfolio in TrueCar Inc (NASDAQ:TRUE). Morgan Stanley reported 6.61M shares or 0.02% of all its holdings. Moreover, Allianz Asset Management Ag has 0% invested in TrueCar Inc (NASDAQ:TRUE) for 37,110 shares. Blackrock Grp Inc Incorporated Ltd has 18,141 shares for 0% of their US portfolio. Zurcher Kantonalbank (Zurich Cantonalbank) last reported 643 shares in the company. Moreover, Legal & General Grp Pcl has 0% invested in TrueCar Inc (NASDAQ:TRUE) for 8,746 shares. California State Teachers Retirement System accumulated 113,963 shares or 0% of the stock. The Hong Kong-based Hillhouse Cap Management Ltd has invested 0.08% in TrueCar Inc (NASDAQ:TRUE). Blackrock Institutional Na accumulated 1.33M shares or 0% of the stock. Credit Suisse Ag accumulated 28,824 shares or 0% of the stock. Tiaa Cref Inv Management Ltd Liability holds 0% or 166,119 shares in its portfolio. Voya Invest Mgmt Limited Liability Company last reported 24,457 shares in the company.

More news for TrueCar Inc (NASDAQ:TRUE) were recently published by: Fool.com, which released: “Why TrueCar’s Third-Quarter Results Are Promising” on November 07, 2016. Schaeffersresearch.com‘s article titled: “Analyst Upgrades: Skyworks Solutions Inc, Imperva Inc, and TrueCar Inc” and published on November 04, 2016 is yet another important article.

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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