In a report released today, Andrew Boone from JMP Securities maintained a Buy rating on Vroom (VRM – Research Report), with a price target of $1.00. The company’s shares closed yesterday at $0.84.
According to TipRanks, Boone is an analyst with an average return of -14.1% and a 33.60% success rate. Boone covers the Technology sector, focusing on stocks such as Snap, Shopify, and Innovid.
Currently, the analyst consensus on Vroom is a Hold with an average price target of $1.08.
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Based on Vroom’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $209.35 million and a net profit of $24.77 million. In comparison, last year the company earned a revenue of $934.49 million and had a GAAP net loss of $129.79 million
Based on the recent corporate insider activity of 25 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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