Sam Reid, an analyst from Wells Fargo, maintained the Hold rating on Vroom (VRM – Research Report). The associated price target is $1.00.
Sam Reid’s hold rating on Vroom’s stock (VRM) is attributed to a collection of aspects he examined. The third quarter results for VRM did not significantly alter Reid’s existing outlook on the stock. Although there was a marginal progression in the company’s liquidity, the concern over this issue continues to remain a focal point.
Further, Reid believes that Vroom’s long-term prospects have not shown significant improvement, leaving the analyst’s initial assessment intact. Because of these reasons, Sam Reid advocates for a cautious approach towards Vroom’s stock, suggesting investors to remain on the sidelines for the time being.
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Based on the recent corporate insider activity of 20 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 (VRM) Company Description:
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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