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Maxim Group Remains a Buy on RumbleON Inc (RMBL)


Maxim Group analyst Nehal Chokshi reiterated a Buy rating on RumbleON Inc (NASDAQ: RMBL) today and set a price target of $13. The company’s shares closed yesterday at $8.48.

Chokshi noted:

“Difference between sales margin and GAAP reported gross margin (includes freight-in and reconditioning) is narrower than we had originally projected….”

According to TipRanks.com, Chokshi is a 5-star analyst with an average return of 13.7% and a 61.6% 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 $10.

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The company has a one-year high of $10.98 and a one-year low of $3.53. Currently, RumbleON Inc has an average volume of 180.8K.

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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.