Wedbush analyst Seth Basham maintained a Buy rating on RumbleON (RMBL – Research Report) today and set a price target of $7.00. The company’s shares closed yesterday at $5.45.
According to TipRanks, Basham is a 5-star analyst with an average return of 10.5% and a 50.63% success rate. Basham covers the Consumer Cyclical sector, focusing on stocks such as Wayfair, CarMax, and Sleep Number.
Currently, the analyst consensus on RumbleON is a Strong Buy with an average price target of $9.50, representing a 74.31% upside. In a report released on April 28, B.Riley Financial also reiterated a Buy rating on the stock with a $13.00 price target.
Based on RumbleON’s latest earnings release for the quarter ending September 30, the company reported a quarterly revenue of $338.11 million and a GAAP net loss of $16.48 million. In comparison, last year the company earned a revenue of $380.66 million and had a net profit of $3.04 million
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RumbleON (RMBL) Company Description:
RumbleOn, Inc. operates a capital light disruptive e-commerce platform facilitating the ability of both consumers and dealers to buy-sell-trade-finance pre-owned vehicles in one online location. It operates through the Vehicle Distribution, and Vehicle Logistics Transportation business segments. The Vehicle Distribution segment distributes power sports and automotive and is anchored on a proprietary supply chain and distribution software platform that is supported with its mobile-first web and application strategy. The Vehicle Logistics Transportation segment provides nationwide automotive transportation services between dealerships and auctions. RumbleOn was founded by Matthew A. Lane on October 24, 2013 and is headquartered in Irving, TX.
