TrueCar Inc. (NASDAQ:TRUE) was raised to Buy from Neutral with a 5 price target at B Riley FBR. The stock finished + 10.02% at 3.17 Wednesday, and its consensus target price is at 3.49.
My work shows that this stock broke out on Wednesday, 10 June and is headed towards 6.00 long term. The Key support is at 2.76, and major resistance is at 3.96. 2 of our 3 Key technical indicators have turned Very Bullish in here.
TrueCar, Inc., (NASDAQ:TRUE) together with its subsidiaries, operates as an Internet-based information, technology, and communication services company in the United States.
It operates its platform on the TrueCar Website and mobile applications. The company also customizes and operates its platform for its affinity group marketing partners, including financial institutions, membership-based organizations, and employee buying programs for large enterprises.
Its platform enables users to obtain market-based pricing data on new and used cars, and to connect with its network of TrueCar certified dealers. In addition, the company offers forecast, consulting, and other services regarding determination of the residual value of an automobile at given future points in time, which are used to underwrite automotive loans and leases, and by financial institutions to measure exposure and risk across loan, lease, and fleet portfolios.
Further, it provides geographically specific and real-time pricing information for consumers and dealers.
TrueCar Trade, which gives consumers information on the value of their trade-in vehicles and enables them to obtain a guaranteed trade-in price before setting foot in the dealership.
DealerSync, a dealer Website creation and management service and a software platform that assists dealers in managing, marketing, and growing their business, and,
DealerScience that provides dealers with advanced digital retailing software tools.
The company was formerly known as Zag.com Inc. TrueCar, Inc. was founded in Y 2005 and is HQ’d in Santa Monica, California.
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