RBC Capital Issues a Buy Rating on TrueCar

By Ryan Adsit

In a report released yesterday, Mark Mahaney from RBC Capital reiterated a Buy rating on TrueCar (NASDAQ: TRUE), with a price target of $19. The company’s shares closed yesterday at $15.26.

According to TipRanks.com, Mahaney is a top 25 analyst with an average return of 18.2% and a 72.2% success rate. Mahaney covers the Technology sector, focusing on stocks such as Quotient Technology Inc, IAC/InterActiveCorp, and Angie’s List Inc.

TrueCar has an analyst consensus of Strong Buy, with a price target consensus of $19.50.

Based on TrueCar’s latest earnings report for the quarter ending December 31, the company posted quarterly revenue of $74.08 million and GAAP net loss of $7.95 million. In comparison, last year the company earned revenue of $61.86 million and had a GAAP net loss of $11.67 million.

Based on the recent corporate insider activity of 70 insiders, corporate insider sentiment is neutral on the stock.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

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. Its products include Used Cars for Sale, Sell My Car, Local Pricing, and Lease a Car. Its mobile applications includes TrueCar Mobile, TrueCar Sell, and TrueCar Dealer Portal. The company was founded by Thomas Taira, Jim Nguyen, Scott Painter and Bernard Brenner in February 2005 and is headquartered in Santa Monica, CA.