Citigroup Initiates Coverage On TrueCar Inc to Buy with Price Target $18

Citigroup Initiates Coverage On TrueCar Inc(TRUE). In a research note issued to the investors, the brokerage major Announces the price-target to $18 per share. The shares have been rated Buy. The rating by the stock financial advisor at Citigroup was issued on Mar 27, 2017 in a research report to their Investors and Clients.

In a different note, On Feb 6, 2017, RBC Capital said it Upgrades its rating on TrueCar Inc. According to the research note, RBC Capital Raises the price target to $17 per share from a prior target of $12. The shares have been rated ‘Outperform’ by the firm. On Jan 9, 2017, JMP Securities said it Upgrades its rating on TrueCar Inc. The shares have been rated ‘Market Outperform’ by the firm.

TrueCar Inc(TRUE) last announced its earnings results on Feb 16, 2017 for Fiscal Year 2016 and Q4.Company reported revenue of $74.081M. Analysts had an estimated revenue of $71.310M. Earnings per share were $-0.01. Analysts had estimated an EPS of $-0.05.

Several Insider Transactions has been reported to the SEC. On Mar 3, 2017, Neeraj Gunsagar (EVP, Chief Marketing Officer) sold 25,571 shares at $14.70 per share price.Also, On Nov 28, 2016, Robert Buce (director) sold 40,100 shares at $12.60 per share price.On Nov 23, 2016, Brian Skutta (EVP, Dealer Sales & Service) sold 4,081 shares at $12.81 per share price, according to the Form-4 filing with the securities and exchange commission.

TrueCar Inc. (TrueCar) is a data-driven online platform operating on a common technology infrastructure powered by data and analytics. The Company operates its Company-branded platform on its Website. In addition it customizes and operates its platform on a co-branded basis for its affinity group marketing partners including financial institutions such as USAA and American Express; membership-based organizations such as Consumer Reports AARP and AAA and employee buying programs for enterprises such as IBM and Walmart. The Company enables users to obtain market-based pricing data on new and used cars and to connect with its network of TrueCar Certified Dealers. It also allows automobile manufacturers known in the industry as original equipment manufacturers (OEMs) to connect with TrueCar users in the purchase process.

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