Vroom (VRM) Receives a New Rating from a Top Analyst


Stifel Nicolaus analyst Scott Devitt initiated coverage with a Buy rating on Vroom (VRM) today and set a price target of $65.00. The company’s shares closed last Thursday at $54.30.

According to TipRanks.com, Devitt is a top 100 analyst with an average return of 24.6% and a 71.1% success rate. Devitt covers the Technology sector, focusing on stocks such as Jumia Technologies AG, Uber Technologies, and Analog Devices.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Vroom with a $55.33 average price target.

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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 VRM 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.

Vroom Inc is engaged in the business of buying and selling used vehicles through its e-commerce platform. The company functions in three segments namely, Ecommerce, which involves retail sales of used vehicles through the company’s ecommerce platform and fees earned on sales of value-added products associated with those vehicles sales. The TDA reportable segment represents retail sales of used vehicles from TDA and fees earned on sales of value-added products associated with those vehicles sales. The wholesale reportable segment represents sales of used vehicles through wholesale auctions.

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