B. Riley Has Pessimistic Outlook of RumbleOn FY2024 Earnings

RumbleOn, Inc. (NASDAQ:RMBL) – Equities researchers at B. Riley dropped their FY2024 EPS estimates for shares of RumbleOn in a note issued to investors on Tuesday, November 12th. B. Riley analyst E. Wold now forecasts that the company will post earnings of ($0.85) per share for the year, down from their previous estimate of ($0.61). B. Riley currently has a “Buy” rating and a $7.00 price target 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 reduced their price objective on RumbleOn from $7.00 to $5.00 and set an “outperform” rating on the stock in a research report on Thursday, August 8th.

RumbleOn Stock Performance

NASDAQ RMBL opened at $5.49 on Friday. The firm’s fifty day moving average price is $4.91 and its two-hundred day moving average price is $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 debt-to-equity ratio of 2.23, a quick ratio of 0.27 and a current ratio of 1.12. RumbleOn has a fifty-two week low of $3.13 and a fifty-two week high of $8.84.

Hedge Funds Weigh In On RumbleOn

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Rhumbline Advisers lifted its holdings in shares of 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 purchasing an additional 19,279 shares during the period. Virtu Financial LLC bought a new stake in shares of RumbleOn in the 1st quarter valued at about $90,000. Barclays PLC increased its stake in shares of 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 during the period. Dimensional Fund Advisors LP raised its position in shares of RumbleOn by 35.9% during the second quarter. Dimensional Fund Advisors LP now owns 29,182 shares of the company’s stock worth $120,000 after acquiring an additional 7,704 shares during the last quarter. Finally, Magnus Financial Group LLC bought a new stake in RumbleOn in the second quarter valued at approximately $127,000. 66.14% of the stock is currently owned by institutional investors and hedge funds.

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.