National Securities Corp Thinks RumbleON Inc’s Stock is Going to Recover

By Austin Angelo

National Securities Corp analyst Ilya Grozovsky maintained a Buy rating on RumbleON Inc (RMBLResearch Report) today and set a price target of $9.50. The company’s shares closed yesterday at $5.15, close to its 52-week low of $4.38.

According to TipRanks.com, Grozovsky is a 4-star analyst with an average return of 9.3% and a 56.2% success rate. Grozovsky covers the Technology sector, focusing on stocks such as Super League Gaming Inc, Mitek Systems Inc, and Digimarc Corp.

Currently, the analyst consensus on RumbleON Inc is a Moderate Buy with an average price target of $9.75, an 89.3% upside from current levels. In a report released yesterday, B.Riley FBR also initiated coverage with a Buy rating on the stock with a $9 price target.

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Based on RumbleON Inc’s latest earnings release for the quarter ending December 31, the company reported a quarterly GAAP net loss of $9.83 million. In comparison, last year the company had a GAAP net loss of $3.61 million.

Based on the recent corporate insider activity of 8 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of RMBL in relation to earlier this year.

TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.

RumbleOn, Inc. operates a capital light disruptive e-commerce platform facilitating the ability of both consumers and dealers to buy-sell-trade-finance pre-owned vehicles in one online location. It operates through the Vehicle Distribution, and Vehicle Logistics Transportation business segments.