Vroom, Inc. (NASDAQ:VRM – Get Rating) – Equities research analysts at Wedbush upped their Q3 2022 earnings per share (EPS) estimates for Vroom in a research note issued on Tuesday, May 10th. Wedbush analyst S. Basham now expects that the company will earn ($0.64) per share for the quarter, up from their previous estimate of ($0.74). Wedbush currently has a “Outperform” rating on the stock. Wedbush also issued estimates for Vroom’s Q4 2022 earnings at ($0.75) EPS, FY2022 earnings at ($3.09) EPS, Q1 2023 earnings at ($0.48) EPS, FY2023 earnings at ($2.29) EPS and FY2024 earnings at ($2.08) EPS.
Other research analysts have also recently issued reports about the stock. Wells Fargo & Company cut shares of Vroom from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $16.00 to $6.00 in a report on Tuesday, March 1st. Robert W. Baird reduced their target price on shares of Vroom from $14.00 to $8.00 in a report on Wednesday, March 2nd. Stifel Nicolaus cut shares of Vroom from a “buy” rating to a “hold” rating in a report on Tuesday, March 1st. Truist Financial cut shares of Vroom from a “buy” rating to a “hold” rating in a report on Tuesday, March 1st. Finally, Bank of America reduced their target price on shares of Vroom from $65.00 to $30.00 in a report on Thursday, February 3rd. Eight equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $23.50.
Vroom (NASDAQ:VRM – Get Rating) last posted its quarterly earnings data on Monday, May 9th. The company reported ($0.71) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.01) by $0.30. The business had revenue of $923.50 million during the quarter, compared to analysts’ expectations of $878.18 million. Vroom had a negative net margin of 11.65% and a negative return on equity of 34.12%. The business’s revenue was up 56.2% on a year-over-year basis. During the same period last year, the firm posted ($0.57) earnings per share.
In related news, CEO Paul J. Hennessy sold 19,389 shares of the firm’s stock in a transaction on Tuesday, March 29th. The shares were sold at an average price of $2.94, for a total value of $57,003.66. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Robert J. Mylod, Jr. bought 40,000 shares of the stock in a transaction that occurred on Monday, March 7th. The stock was purchased at an average price of $2.89 per share, for a total transaction of $115,600.00. The disclosure for this purchase can be found here. Insiders have sold a total of 42,907 shares of company stock worth $124,619 in the last 90 days. 17.40% of the stock is owned by insiders.
A number of large investors have recently bought and sold shares of VRM. Dark Forest Capital Management LP acquired a new stake in Vroom in the 3rd quarter worth $35,000. FNY Investment Advisers LLC acquired a new stake in Vroom in the 4th quarter worth $25,000. Metropolitan Life Insurance Co NY grew its position in Vroom by 88.4% in the 4th quarter. Metropolitan Life Insurance Co NY now owns 3,635 shares of the company’s stock worth $39,000 after purchasing an additional 1,706 shares during the last quarter. Canada Pension Plan Investment Board acquired a new stake in Vroom in the 4th quarter worth $46,000. Finally, Gradient Investments LLC acquired a new stake in Vroom in the 4th quarter worth $63,000. Institutional investors and hedge funds own 83.92% of the company’s stock.
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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