Vroom (NASDAQ:VRM) Issues Quarterly Earnings Results, Beats Expectations By $0.30 EPS

Vroom (NASDAQ:VRMGet Rating) released its quarterly earnings results on Monday. The company reported ($0.71) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.01) by $0.30, MarketWatch Earnings reports. Vroom had a negative net margin of 11.65% and a negative return on equity of 34.12%. The firm had revenue of $923.50 million for the quarter, compared to the consensus estimate of $878.18 million. During the same quarter in the previous year, the firm posted ($0.57) EPS. The firm’s quarterly revenue was up 56.2% on a year-over-year basis.

NASDAQ VRM opened at $1.08 on Tuesday. Vroom has a one year low of $1.08 and a one year high of $46.30. The company has a 50-day simple moving average of $2.37 and a 200-day simple moving average of $8.56. The company has a debt-to-equity ratio of 0.67, a quick ratio of 1.66 and a current ratio of 2.54. The firm has a market capitalization of $149.11 million, a PE ratio of -0.40 and a beta of 1.94.

In other Vroom news, Director Robert J. Mylod, Jr. sold 14,667 shares of the business’s stock in a transaction dated Friday, March 25th. The shares were sold at an average price of $2.85, for a total transaction of $41,800.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Paul J. Hennessy sold 19,389 shares of the business’s stock in a transaction dated Tuesday, March 29th. The stock was sold at an average price of $2.94, for a total transaction of $57,003.66. The disclosure for this sale can be found here. Insiders have sold a total of 42,907 shares of company stock valued at $124,619 over the last three months. 17.40% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in the business. Schonfeld Strategic Advisors LLC raised its holdings in shares of Vroom by 23.5% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 182,600 shares of the company’s stock worth $1,970,000 after purchasing an additional 34,779 shares in the last quarter. Credit Suisse AG raised its holdings in shares of Vroom by 43.9% in the 4th quarter. Credit Suisse AG now owns 109,516 shares of the company’s stock worth $1,182,000 after purchasing an additional 33,388 shares in the last quarter. Norges Bank bought a new stake in shares of Vroom in the 4th quarter worth approximately $1,090,000. River & Mercantile Asset Management LLP raised its holdings in shares of Vroom by 35.8% in the 4th quarter. River & Mercantile Asset Management LLP now owns 87,580 shares of the company’s stock worth $946,000 after purchasing an additional 23,110 shares in the last quarter. Finally, Guggenheim Capital LLC raised its holdings in shares of Vroom by 6.3% in the 4th quarter. Guggenheim Capital LLC now owns 54,484 shares of the company’s stock worth $588,000 after purchasing an additional 3,253 shares in the last quarter. Institutional investors own 83.92% of the company’s stock.

VRM has been the subject of several recent analyst reports. Bank of America decreased their price objective on shares of Vroom from $65.00 to $30.00 in a report on Thursday, February 3rd. Wedbush decreased their price objective on shares of Vroom from $13.00 to $5.00 in a report on Wednesday, March 2nd. Truist Financial lowered shares of Vroom from a “buy” rating to a “hold” rating in a report on Tuesday, March 1st. Stifel Nicolaus lowered shares of Vroom from a “buy” rating to a “hold” rating in a report on Tuesday, March 1st. Finally, Wells Fargo & Company lowered shares of Vroom from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $16.00 to $6.00 in a report on Tuesday, March 1st. Eight investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $23.50.

Vroom Company Profile (Get Rating)

Vroom, Inc operates as an e-commerce used automotive retailer in the United States. It operates end-to-end ecommerce platform for buying, selling, transporting, reconditioning, pricing, financing, registering, and delivering vehicles. The company was formerly known as Auto America, Inc and changed its name to Vroom, Inc in July 2015.

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Earnings History for Vroom (NASDAQ:VRM)

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