Wedbush Comments on RumbleOn's FY2024 Earnings (NASDAQ:RMBL)

RumbleOn, Inc. (NASDAQ:RMBL - Free Report) - Analysts at Wedbush reduced their FY2024 earnings per share (EPS) estimates for shares of RumbleOn in a report released on Wednesday, November 13th. Wedbush analyst S. Basham now anticipates that the company will post earnings per share of ($0.89) for the year, down from their previous forecast of ($0.48). Wedbush currently has a "Outperform" rating and a $5.00 price objective on the stock. The consensus estimate for RumbleOn's current full-year earnings is ($0.55) per share. Wedbush also issued estimates for RumbleOn's Q4 2024 earnings at ($0.26) EPS, FY2025 earnings at ($0.28) EPS and FY2026 earnings at $0.22 EPS.

Separately, B. Riley dropped their price target on RumbleOn from $9.00 to $7.00 and set a "buy" rating on the stock in a research report on Wednesday.

RumbleOn Trading Up 5.0 %

Shares of RMBL stock traded up $0.26 during trading hours on Friday, reaching $5.49. The company's stock had a trading volume of 105,360 shares, compared to its average volume of 161,232. The company has a current ratio of 1.12, a quick ratio of 0.27 and a debt-to-equity ratio of 2.23. RumbleOn has a one year low of $3.13 and a one year high of $8.84. The stock has a market capitalization of $193.92 million, a P/E ratio of -0.62 and a beta of 2.08. The firm's fifty day simple moving average is $4.87 and its 200 day simple moving average is $4.77.

Institutional Investors Weigh In On RumbleOn

Several hedge funds and other institutional investors have recently modified their holdings of the business. Barclays PLC boosted its position in shares of RumbleOn by 278.7% in the 3rd quarter. Barclays PLC now owns 21,278 shares of the company's stock worth $102,000 after purchasing an additional 15,660 shares in the last quarter. State Street Corp grew its position in shares of RumbleOn by 1.7% in the third quarter. State Street Corp now owns 181,190 shares of the company's stock valued at $868,000 after purchasing an additional 3,061 shares in the last quarter. Citigroup Inc. grew its position in shares of RumbleOn by 46,928.8% in the third quarter. Citigroup Inc. now owns 1,701,503 shares of the company's stock valued at $8,150,000 after purchasing an additional 1,697,885 shares in the last quarter. Empowered Funds LLC grew its position in RumbleOn by 5.3% in the third quarter. Empowered Funds LLC now owns 66,150 shares of the company's stock worth $317,000 after acquiring an additional 3,350 shares during the period. Finally, Magnus Financial Group LLC grew its position in RumbleOn by 146.8% in the third quarter. Magnus Financial Group LLC now owns 76,500 shares of the company's stock worth $366,000 after acquiring an additional 45,500 shares during the period. 66.14% of the stock is currently owned by hedge funds and other institutional investors.

RumbleOn Company Profile

RumbleOn, Inc primarily operates as a powersports retailer in the United States. It operates in two segments, Powersports and Vehicle Transportation Services. The Powersports segment provides new and pre-owned motorcycles, all-terrain vehicles, utility terrain or side-by-side vehicles, personal watercraft, snowmobiles, and other powersports products.