B. Riley Has Pessimistic Outlook of RumbleOn FY2024 Earnings

RumbleOn, Inc. (NASDAQ:RMBL) – Investment analysts at B. Riley cut their FY2024 earnings per share (EPS) estimates for shares of RumbleOn in a research note issued on Tuesday, November 12th. B. Riley analyst E. Wold now forecasts that the company will earn ($0.85) per share for the year, down from their prior forecast of ($0.61). B. Riley has a “Buy” rating and a $7.00 price objective on the stock. The consensus estimate for RumbleOn’s current full-year earnings is ($0.55) per share. B. Riley also issued estimates for RumbleOn’s Q4 2024 earnings at ($0.22) EPS, Q1 2025 earnings at ($0.09) EPS, Q3 2025 earnings at ($0.03) EPS, FY2025 earnings at $0.14 EPS and FY2026 earnings at $0.48 EPS.

Separately, Wedbush lowered their target price on shares of RumbleOn from $7.00 to $5.00 and set an “outperform” rating on the stock in a research note on Thursday, August 8th.

RumbleOn Trading Up 5.0 %

RMBL opened at $5.49 on Friday. RumbleOn has a 52 week low of $3.13 and a 52 week high of $8.84. The business has a 50 day moving average of $4.91 and a 200-day moving average of $4.77. The stock has a market cap of $193.92 million, a PE ratio of -0.65 and a beta of 2.08. The company has a quick ratio of 0.27, a current ratio of 1.12 and a debt-to-equity ratio of 2.23.

RumbleOn (NASDAQ:RMBL) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.32) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.22). RumbleOn had a negative net margin of 15.25% and a negative return on equity of 118.07%. The firm had revenue of $295.00 million for the quarter, compared to the consensus estimate of $302.76 million. During the same quarter last year, the company posted ($0.71) earnings per share.

Institutional Investors Weigh In On RumbleOn

Several institutional investors have recently made changes to their positions in RMBL. Virtu Financial LLC purchased a new stake in shares of RumbleOn in the 1st quarter worth approximately $90,000. Rhumbline Advisers grew its holdings in RumbleOn by 3,910.5% during the second quarter. Rhumbline Advisers now owns 19,772 shares of the company’s stock worth $81,000 after acquiring an additional 19,279 shares during the period. Barclays PLC increased its holdings in RumbleOn by 278.7% in the third quarter. Barclays PLC now owns 21,278 shares of the company’s stock valued at $102,000 after buying an additional 15,660 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in RumbleOn by 35.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 29,182 shares of the company’s stock valued at $120,000 after acquiring an additional 7,704 shares during the period. Finally, Magnus Financial Group LLC acquired a new position in shares of RumbleOn during the second quarter valued at approximately $127,000. Institutional investors own 66.14% of the company’s stock.

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.