B.Riley FBR Thinks TrueCar’s Stock is Going to Recover

By Jason Carr

In a report issued on December 15, Sameet Sinha from B.Riley FBR reiterated a Buy rating on TrueCar (NASDAQ: TRUE), with a price target of $18. The company’s shares closed on Friday at $11.15, close to its 52-week low of $10.16.

According to TipRanks.com, Sinha is a 4-star analyst with an average return of 5.6% and a 57.1% success rate. Sinha covers the Technology sector, focusing on stocks such as ANGI Homeservices Inc, Digital Turbine Inc, and Limelight Networks.

TrueCar has an analyst consensus of Moderate Buy, with a price target consensus of $17.

Based on TrueCar’s latest earnings report for the quarter ending September 30, the company posted quarterly revenue of $82.44 million and GAAP net loss of $9.52 million. In comparison, last year the company earned revenue of $75.14 million and had a GAAP net loss of $7.44 million.

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TrueCar, Inc. engages in the operation of data-driven online platform which provides dealers and automakers with automobile information. It provides pricing transparency about what other people paid for their cars. The company products include Used Cars for Sale, Sell My Car, Local Pricing, and Lease a Car.