RumbleON (NASDAQ:RMBL) Releases Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Key Points

• RumbleON (NASDAQ: RMBL) reported a quarterly earnings per share (EPS) of **$0.04**, along with a negative net margin of **6.81%** and a negative return on equity of **63.42%**.
• The company's stock remained flat at **$2.00** during trading, with a market cap of **$75.58 million** and a consensus target price of **$4.50** according to analysts.
• DA Davidson reduced its price target for RumbleON from **$4.00** to **$3.00**, while maintaining a "neutral" rating, reflecting cautious optimism among analysts.

RumbleON (NASDAQ:RMBL - Get Free Report) issued its quarterly earnings results on Monday. The company reported $0.04 earnings per share for the quarter, topping analysts' consensus estimates of ($0.01) by $0.05, Zacks reports. RumbleON had a negative net margin of 9.87% and a negative return on equity of 101.83%. The company had revenue of $299.90 million during the quarter, compared to the consensus estimate of $259.08 million.

RumbleON Trading Up 58.8%

NASDAQ RMBL traded up $1.18 on Friday, hitting $3.18. The company's stock had a trading volume of 39,874,812 shares, compared to its average volume of 2,041,667. The company has a quick ratio of 0.27, a current ratio of 1.16 and a debt-to-equity ratio of 8.00. RumbleON has a 1-year low of $1.46 and a 1-year high of $7.06. The company's 50-day moving average is $2.35 and its 200 day moving average is $2.81. The firm has a market cap of $120.01 million, a PE ratio of -1.06 and a beta of 1.27.

Wall Street Analysts Forecast Growth

Separately, DA Davidson lowered their price objective on shares of RumbleON from $4.00 to $3.00 and set a "neutral" rating for the company in a research report on Thursday, May 8th. Four equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $4.50.

Institutional Investors Weigh In On RumbleON

A hedge fund recently bought a new stake in RumbleON stock. Qube Research & Technologies Ltd acquired a new position in shares of RumbleON, Inc. (NASDAQ:RMBL - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 22,663 shares of the company's stock, valued at approximately $52,000. Qube Research & Technologies Ltd owned 0.06% of RumbleON as of its most recent SEC filing. Hedge funds and other institutional investors own 66.14% of the company's stock.

About RumbleON

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.