Shares of RumbleON (NASDAQ:RMBL) soared today after it reported earnings for its first quarter of Fiscal Year 2023. Adjusted earnings per share came in at $0.05, which beat analysts’ consensus estimate of -$0.31 per share. Sales fell by 22.2% year-over-year, with revenue hitting $346.3 million. This was more than $11 million above expectations.
Confident Investing Starts Here:
- Easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks right to your inbox with TipRanks' Smart Value Newsletter
Looking forward, management now expects revenue and adjusted EBITDA for Fiscal Year 2023 to be in the ranges of $1.4 billion to $1.6 billion and $95 million to $105 million, respectively. For reference, analysts were expecting $1.504 billion in revenue and an EBITDA figure of $94.825 million.
Overall, Wall Street analysts have a consensus price target of $11.40 on RMBL stock, implying over 24% upside potential, as indicated by the graphic above.
Looking for a trading platform? Check out TipRanks' Best Online Brokers guide, and find the ideal broker for your trades.
Report an Issue