RumbleOn (NASDAQ:RMBL) Price Target Cut to $5.00 by Analysts at Wedbush

RumbleOn (NASDAQ:RMBL) had its target price trimmed by Wedbush from $7.00 to $5.00 in a research note issued to investors on Thursday morning, Benzinga reports. The brokerage currently has an outperform rating on the stock. Wedbush also issued estimates for RumbleOn’s FY2025 earnings at $0.26 EPS.

RumbleOn Stock Performance

RumbleOn stock traded down $0.07 during trading hours on Thursday, reaching $3.43. 152,309 shares of the company were exchanged, compared to its average volume of 193,786. The firm has a market cap of $120.93 million, a price-to-earnings ratio of -0.35 and a beta of 2.10. The company has a current ratio of 1.10, a quick ratio of 0.24 and a debt-to-equity ratio of 2.22. The stock has a 50-day moving average of $4.42 and a 200 day moving average of $5.65. RumbleOn has a 12 month low of $3.13 and a 12 month high of $8.86.

RumbleOn (NASDAQ:RMBL) last announced its earnings results on Wednesday, May 8th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.09) by ($0.20). The company had revenue of $307.80 million for the quarter, compared to the consensus estimate of $338.11 million. RumbleOn had a negative return on equity of 82.79% and a negative net margin of 15.59%. As a group, research analysts anticipate that RumbleOn will post -0.5 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Empowered Funds LLC lifted its holdings in shares of RumbleOn by 8.1% during the first quarter. Empowered Funds LLC now owns 58,300 shares of the company’s stock worth $377,000 after buying an additional 4,375 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of RumbleOn by 35.9% during the second quarter. Dimensional Fund Advisors LP now owns 29,182 shares of the company’s stock worth $120,000 after buying an additional 7,704 shares during the last quarter. Cannon Global Investment Management LLC acquired a new position in shares of RumbleOn during the first quarter worth approximately $65,000. Virtu Financial LLC acquired a new position in shares of RumbleOn in the first quarter valued at $90,000. Finally, Rhumbline Advisers raised its stake in shares of RumbleOn by 3,910.5% in the second quarter. Rhumbline Advisers now owns 19,772 shares of the company’s stock valued at $81,000 after purchasing an additional 19,279 shares in the last quarter. 66.14% of the stock is currently owned by institutional investors and hedge funds.

RumbleOn Company Profile

RumbleOn, Inc primarily operates as a powersports retailer in the United States. It operates in two segments, Powersports and Vehicle Transportation Services. The Powersports segment provides new and pre-owned motorcycles, all-terrain vehicles, utility terrain or side-by-side vehicles, personal watercraft, snowmobiles, and other powersports products.