RumbleON Inc (RMBL) Receives a Hold from Maxim Group

By Austin Angelo

Maxim Group analyst Nehal Chokshi maintained a Hold rating on RumbleON Inc (RMBLResearch Report) today. The company’s shares closed yesterday at $5.45.

Chokshi said:

“Powersports seasonality surprises to downside, Automotive synergies better- than-expected, aggressive opex spend drives significant bottom-line miss. Mar Q top-line guidance above consensus, but spend rate from Dec Q & language implies cash burn will remain significant through CY19. Management reiterates 10% long-term operating margin expectation. Maintaining Hold Rating.”

According to TipRanks.com, Chokshi is a 4-star analyst with an average return of 9.1% and a 56.7% success rate. Chokshi covers the Consumer Goods sector, focusing on stocks such as Hewlett Packard Enterprise, Super Micro Computer, and Palo Alto Networks.

Currently, the analyst consensus on RumbleON Inc is a Moderate Buy with an average price target of $9.75.

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The company has a one-year high of $10.98 and a one-year low of $3.60. Currently, RumbleON Inc has an average volume of 144.7K.

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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 focuses on the market for vin specific pre-owned vehicles with an initial emphasis on motorcycles and other powersports.