TrueCar Inc (NASDAQ:TRUE) has been downgraded to Hold in a report by Zacks Investment Research today.
- Updated: October 8, 2016
Zacks Investment Research has downgraded TrueCar Inc (NASDAQ:TRUE) to Hold in a report released on 10/06/2016.
Previously on 9/12/2016, Morgan Stanley reported on TrueCar Inc (NASDAQ:TRUE) raised the target price from $5.00 to $6.40. At the time, this indicated a possible downside of -0.28%.
Yesterday TrueCar Inc (NASDAQ:TRUE) traded -2.21% lower at $9.50. The company’s 50-day moving average is $9.35 and its 200-day moving average is $7.93. The last closing price is up 17.13% from the 200-day moving average, compared to the S&P 500 which has decreased -0.01% over the same time. 834,502 shares of the stock were exchanged, up from an average trading volume of 743,226
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TrueCar Inc has a 52 week low of $4.42 and a 52 week high of $11.13 The company’s market cap is currently $0.
In addition to Zacks Investment Research reporting its target price, a total of 9 brokers have issued a report on the stock. The consensus target price is $5.39 with 0 brokers rating the stock a strong buy, 0 brokers rating the stock a buy, 0 brokers rating the stock a hold, 0 brokers rating the stock a underperform, and finally 0 brokers rating the stock a sell.
General Information About TrueCar Inc (NASDAQ:TRUE)
TrueCar, Inc. offers a diverse software ecosystem for buying cars. The Company's software ecosystem is based on a common technology infrastructure, and powered by data and analytics. The Company operates its platform on the TrueCar Website and its branded mobile experience. It customizes and operates its platform on a co-branded basis for its affinity group marketing partners, including financial institutions, membership-based organizations, and employee buying programs for enterprises. Its network of approximately 11,000 TrueCar Certified Dealers consists primarily of new car franchises, as well as independent dealers selling used vehicles. Its subsidiary, ALG, Inc., provides forecasts and consulting services regarding determination of the residual value of an automobile at given future points in time. It obtains automobile purchase data from various sources and uses this data to provide consumers and dealers with geographically specific, real-time pricing information.
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