TrueCar (TRUE) Receives a Hold from Needham

By Austin Angelo

In a report released today, Chris Pierce from Needham reiterated a Hold rating on TrueCar (TRUEResearch Report). The company’s shares closed last Thursday at $4.72.

According to TipRanks.com, Pierce is a 1-star analyst with an average return of -9.0% and a 27.3% success rate. Pierce covers the Technology sector, focusing on stocks such as Fiverr International, Uber Technologies, and Shutterstock.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for TrueCar with a $6.38 average price target, representing a 26.1% upside. In a report issued on March 2, Truist Financial also maintained a Hold rating on the stock with a $6.00 price target.

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The company has a one-year high of $6.47 and a one-year low of $1.98. Currently, TrueCar has an average volume of 908.5K.

Based on the recent corporate insider activity of 69 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. Most recently, in January 2021, Robert Buce, a Director at TRUE bought 53,333 shares for a total of $150,932.

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. The company products include Used Cars for Sale, Sell My Car, Local Pricing, and Lease a Car. The company was founded by Thomas Taira, James Nguyen, Scott Painter, and Bernard Brenner in February 2005 and is headquartered in Santa Monica, CA.