In a report released yesterday, Sam Reid from Wells Fargo maintained a Hold rating on Vroom (VRM – Research Report), with a price target of $2.00. The company’s shares closed yesterday at $0.91.
According to TipRanks, Reid is an analyst with an average return of -18.2% and a 20.00% success rate.
The word on The Street in general, suggests a Hold analyst consensus rating for Vroom with a $2.20 average price target.
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Based on Vroom’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $475.44 million and a GAAP net loss of $115.09 million. In comparison, last year the company earned a revenue of $761.89 million and had a GAAP net loss of $65.81 million
Based on the recent corporate insider activity of 23 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of VRM in relation to earlier this year.
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Vroom Inc is engaged in the business of buying and selling used vehicles through its e-commerce platform. The company functions in three segments namely, Ecommerce, which involves retail sales of used vehicles through the company’s ecommerce platform and fees earned on sales of value-added products associated with those vehicles sales. The TDA reportable segment represents retail sales of used vehicles from TDA and fees earned on sales of value-added products associated with those vehicles sales. The wholesale reportable segment represents sales of used vehicles through wholesale auctions.
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