What is B. Riley’s Forecast for RumbleOn FY2024 Earnings?

RumbleOn, Inc. (NASDAQ:RMBL) – Equities researchers at B. Riley decreased their FY2024 earnings per share estimates for RumbleOn in a note issued to investors on Tuesday, November 12th. B. Riley analyst E. Wold now expects that the company will post earnings per share of ($0.85) 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 cut their target price on RumbleOn from $7.00 to $5.00 and set an “outperform” rating for the company in a research note on Thursday, August 8th.

RumbleOn Price Performance

Shares of RumbleOn stock opened at $5.23 on Friday. The firm has a market capitalization of $184.72 million, a PE ratio of -0.62 and a beta of 2.08. 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 12 month low of $3.13 and a 12 month high of $8.84. The business’s 50-day moving average price is $4.87 and its 200-day moving average price is $4.77.

Institutional Trading of RumbleOn

Several hedge funds have recently added to or reduced their stakes in RMBL. Empowered Funds LLC grew its stake in shares of RumbleOn by 5.3% during the third quarter. Empowered Funds LLC now owns 66,150 shares of the company’s stock valued at $317,000 after buying an additional 3,350 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in RumbleOn by 35.9% during 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. Virtu Financial LLC bought a new position in RumbleOn during the 1st quarter worth approximately $90,000. Rhumbline Advisers increased its stake in RumbleOn by 3,910.5% in the 2nd 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. Finally, Magnus Financial Group LLC purchased a new position in RumbleOn in the 2nd quarter worth approximately $127,000. 66.14% of the stock is owned by institutional investors.

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.