RumbleON (NASDAQ:RMBL) Price Target Cut to $30.00

RumbleON (NASDAQ:RMBLGet Rating) had its price target lowered by investment analysts at Wedbush from $40.00 to $30.00 in a note issued to investors on Wednesday, The Fly reports. Wedbush’s price objective would suggest a potential upside of 76.47% from the stock’s previous close.

RMBL has been the subject of several other research reports. Robert W. Baird upped their price objective on RumbleON to $30.00 in a research note on Wednesday. Zacks Investment Research raised RumbleON from a “strong sell” rating to a “hold” rating in a research note on Thursday, January 20th. Finally, DA Davidson decreased their target price on shares of RumbleON from $48.00 to $41.00 in a research report on Thursday, March 17th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $40.25.

RMBL stock opened at $17.00 on Wednesday. The stock has a market capitalization of $271.68 million, a P/E ratio of -3.48 and a beta of 2.81. The company has a current ratio of 1.68, a quick ratio of 0.55 and a debt-to-equity ratio of 0.66. RumbleON has a 12 month low of $16.32 and a 12 month high of $48.45. The firm has a 50-day moving average price of $27.55 and a 200-day moving average price of $34.04.

RumbleON (NASDAQ:RMBLGet Rating) last released its quarterly earnings data on Tuesday, May 10th. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.46 by $0.12. RumbleON had a negative return on equity of 9.55% and a negative net margin of 1.04%. During the same period in the prior year, the company earned ($1.54) earnings per share. As a group, equities analysts predict that RumbleON will post 3.99 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the business. Hood River Capital Management LLC acquired a new stake in shares of RumbleON during the 3rd quarter worth approximately $25,852,000. Cowen Prime Advisors LLC grew its position in shares of RumbleON by 45.8% during the 1st quarter. Cowen Prime Advisors LLC now owns 394,215 shares of the company’s stock worth $13,486,000 after buying an additional 123,895 shares during the period. B. Riley Financial Inc. acquired a new stake in shares of RumbleON during the 3rd quarter worth approximately $12,279,000. Samjo Capital LLC acquired a new stake in shares of RumbleON during the 4th quarter worth approximately $8,678,000. Finally, Pentwater Capital Management LP grew its position in shares of RumbleON by 1.8% during the 4th quarter. Pentwater Capital Management LP now owns 178,165 shares of the company’s stock worth $7,397,000 after buying an additional 3,165 shares during the period. 45.75% of the stock is owned by institutional investors and hedge funds.

RumbleON Company Profile (Get Rating)

RumbleON, Inc operates an e-commerce platform that aggregates and distributes pre-owned vehicles to and from consumers and dealers in North America. It operates in three segments: Powersports, Automotive, and Vehicle Logistics and Transportation. The Powersports segment distributes motorcycles. The Automotive segment distributes cars and trucks.

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