Equities Analysts Offer Predictions for Vroom, Inc.’s Q2 2023 Earnings (NASDAQ:VRM)

Vroom, Inc. (NASDAQ:VRMGet Rating) – Investment analysts at Wedbush issued their Q2 2023 earnings per share estimates for shares of Vroom in a research report issued on Tuesday, May 10th. Wedbush analyst S. Basham forecasts that the company will post earnings of ($0.64) per share for the quarter. Wedbush has a “Outperform” rating on the stock. Wedbush also issued estimates for Vroom’s Q3 2023 earnings at ($0.49) EPS and Q4 2023 earnings at ($0.67) EPS.

Several other equities analysts also recently weighed in on the company. Bank of America dropped their price objective on Vroom from $65.00 to $30.00 in a research note on Thursday, February 3rd. Wells Fargo & Company downgraded Vroom from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $16.00 to $6.00 in a research report on Tuesday, March 1st. Robert W. Baird dropped their price target on Vroom from $14.00 to $8.00 in a research report on Wednesday, March 2nd. Stifel Nicolaus downgraded Vroom from a “buy” rating to a “hold” rating in a research report on Tuesday, March 1st. Finally, Truist Financial downgraded Vroom from a “buy” rating to a “hold” rating in a research report on Tuesday, March 1st. Eight investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Vroom has a consensus rating of “Hold” and a consensus price target of $23.50.

VRM opened at $1.43 on Wednesday. The company has a debt-to-equity ratio of 0.67, a current ratio of 2.54 and a quick ratio of 1.66. The business has a 50 day simple moving average of $2.29 and a 200-day simple moving average of $8.37. The stock has a market capitalization of $197.43 million, a P/E ratio of -0.53 and a beta of 1.94. Vroom has a 12 month low of $1.08 and a 12 month high of $46.30.

Vroom (NASDAQ:VRMGet Rating) last issued its quarterly earnings results on Monday, May 9th. The company reported ($0.71) earnings per share for the quarter, topping the consensus estimate of ($1.01) by $0.30. The company had revenue of $923.50 million for the quarter, compared to the consensus estimate of $878.18 million. Vroom had a negative return on equity of 34.12% and a negative net margin of 11.65%. Vroom’s revenue was up 56.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.57) EPS.

Hedge funds have recently added to or reduced their stakes in the business. GSA Capital Partners LLP acquired a new stake in shares of Vroom during the first quarter worth approximately $182,000. Parametrica Management Ltd acquired a new stake in shares of Vroom during the first quarter worth $32,000. Moloney Securities Asset Management LLC acquired a new stake in Vroom in the 1st quarter valued at $253,000. MAS Advisors LLC acquired a new position in shares of Vroom during the 1st quarter worth about $29,000. Finally, Swiss National Bank boosted its holdings in shares of Vroom by 7.4% during the 1st quarter. Swiss National Bank now owns 161,900 shares of the company’s stock worth $431,000 after buying an additional 11,200 shares during the period. Institutional investors own 83.92% of the company’s stock.

In other Vroom news, CEO Paul J. Hennessy sold 19,389 shares of the business’s stock in a transaction on Tuesday, March 29th. The shares were sold at an average price of $2.94, for a total transaction of $57,003.66. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robert J. Mylod, Jr. sold 14,667 shares of the company’s stock in a transaction on Friday, March 25th. The stock was sold at an average price of $2.85, for a total transaction of $41,800.95. The disclosure for this sale can be found here. Over the last three months, insiders sold 42,907 shares of company stock valued at $124,619. 17.40% of the stock is owned by corporate insiders.

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 and Estimates for Vroom (NASDAQ:VRM)

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