Analysts Offer Insights on Technology Companies: TrueCar (NASDAQ: TRUE) and Sito Mobile Ltd (NASDAQ: SITO)

By Carrie Williams

Companies in the Technology sector have received a lot of coverage today as analysts weigh in on TrueCar (NASDAQ: TRUE) and Sito Mobile Ltd (NASDAQ: SITO).

TrueCar (NASDAQ: TRUE)

In a report released yesterday, John Blackledge from Cowen & Co. reiterated a Hold rating on TrueCar (NASDAQ: TRUE), with a price target of $15. The company’s shares closed yesterday at $16.62.

According to TipRanks.com, Blackledge is a 5-star analyst with an average return of 14.8% and a 69.2% success rate. Blackledge covers the Technology sector, focusing on stocks such as IAC/InterActiveCorp, Match Group Inc, and Pandora Media.

TrueCar has an analyst consensus of Moderate Buy, with a price target consensus of $20.33.

Sito Mobile Ltd (NASDAQ: SITO)

Cowen & Co. analyst Thomas Champion reiterated a Buy rating on Sito Mobile Ltd (NASDAQ: SITO) on August 15 and set a price target of $5.50. The company’s shares closed yesterday at $4.14.

According to TipRanks.com, Champion is a 4-star analyst with an average return of 16.7% and a 67.5% success rate. Champion covers the Technology sector, focusing on stocks such as Angie’s List Inc, Facebook Inc, and Mercadolibre.

Currently, the analyst consensus on Sito Mobile Ltd is Moderate Buy and the average price target is $4.75, representing a 14.7% upside.

In a report issued on August 15, Maxim Group also reiterated a Buy rating on the stock with a $4 price target.

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