TrueCar Receives a Buy from RBC Capital

By Austin Angelo

In a report released today, Mark Mahaney from RBC Capital reiterated a Buy rating on TrueCar (NASDAQ: TRUE), with a price target of $22. The company’s shares closed yesterday at $18.80.

According to TipRanks.com, Mahaney is a top 25 analyst with an average return of 22.7% and a 73.9% success rate. Mahaney covers the Technology sector, focusing on stocks such as Global Payments Inc, IAC/InterActiveCorp, and Angie’s List Inc.

TrueCar has an analyst consensus of Moderate Buy, with a price target consensus of $21.

The company has a one year high of $21.75 and a one year low of $8.09. Currently, TrueCar has an average volume of 1.6M.

Based on the recent corporate insider activity of 92 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of TRUE in relation to earlier this year.

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.