Benchmark Co. Sticks to Their Buy Rating for TrueCar

In a report released today, Daniel Kurnos from Benchmark Co. maintained a Buy rating on TrueCar (NASDAQ: TRUE), with a price target of $18. The company’s shares closed yesterday at $10.40, close to its 52-week low of $8.88.

Kurnos noted:

“We see pricing trends stabilizing a bit from 1Q levels, however, with q/q dealer count growth returning to more normalized levels post-elevated churn.”

According to TipRanks.com, Kurnos is a 5-star analyst with an average return of 9.6% and a 52.3% success rate. Kurnos covers the Services sector, focusing on stocks such as Chicken Soup For The Soul Entertainment Inc, Sinclair Broadcast, and 1-800 Flowers.com.

TrueCar has an analyst consensus of Moderate Buy, with a price target consensus of $14.96.

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Based on TrueCar’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $8.48 million. In comparison, last year the company had a GAAP net loss of $6.8 million.

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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.