RumbleON (OTCMKTS:RMBL) Rating Increased to Buy at Zacks Investment Research

RumbleON (OTCMKTS:RMBL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday, Zacks.com reports. The brokerage presently has a $2.00 price objective on the stock. Zacks Investment Research‘s price target would suggest a potential upside of 44.93% from the stock’s previous close.

According to Zacks, “RumbleON, Inc. provides internet based services. The Company operates an e-commerce platform for consumers and dealers to buy, sell, trade and finance pre-owned recreation vehicles. It primarily focuses on pre-owned Harley Davidson motorcycles. RumbleON, Inc. is based in Charlotte, North Carolina. “

RMBL has been the subject of several other research reports. JMP Securities decreased their target price on RumbleON to $6.00 and set an “outperform” rating for the company in a research report on Thursday, November 14th. DA Davidson assumed coverage on RumbleON in a research report on Tuesday, September 24th. They issued a “buy” rating and a $4.00 target price for the company. Finally, Maxim Group reaffirmed a “hold” rating on shares of RumbleON in a research report on Friday, November 15th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. RumbleON presently has a consensus rating of “Buy” and a consensus price target of $6.10.

RMBL opened at $1.38 on Tuesday. The business has a fifty day simple moving average of $2.61 and a 200-day simple moving average of $3.75. RumbleON has a fifty-two week low of $1.35 and a fifty-two week high of $7.03.

RumbleON (OTCMKTS:RMBL) last issued its earnings results on Tuesday, November 12th. The company reported ($0.38) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.34) by ($0.04). The firm had revenue of $220.32 million during the quarter, compared to analyst estimates of $234.76 million.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Perritt Capital Management Inc. increased its stake in shares of RumbleON by 10.0% in the second quarter. Perritt Capital Management Inc. now owns 110,000 shares of the company’s stock worth $493,000 after purchasing an additional 10,000 shares during the period. Delta Investment Management LLC bought a new position in shares of RumbleON in the second quarter worth about $89,000. Trellus Management Company LLC increased its stake in shares of RumbleON by 34.6% in the second quarter. Trellus Management Company LLC now owns 80,000 shares of the company’s stock worth $358,000 after purchasing an additional 20,550 shares during the period. JPMorgan Chase & Co. bought a new position in shares of RumbleON in the second quarter worth about $101,000. Finally, Vanguard Group Inc. increased its stake in shares of RumbleON by 7.8% in the second quarter. Vanguard Group Inc. now owns 469,409 shares of the company’s stock worth $2,103,000 after purchasing an additional 33,856 shares during the period.

About RumbleON

RumbleON, Inc (RumbleON), formerly Smart Server Inc, is a development-stage company. The Company focuses on creating an e-commerce platform facilitating the ability of both consumers and dealers to Buy-Sell-Trade-Finance pre-owned recreation vehicles (RV). Serving both consumers and dealers, RumbleON makes such consumers or dealers a cash offer for the purchase of their vehicle.

Featured Article: What is the Hang Seng index?  

Get a free copy of the Zacks research report on RumbleON (RMBL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for RumbleON (OTCMKTS:RMBL)

Receive News & Ratings for RumbleON Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RumbleON and related companies with MarketBeat.com's FREE daily email newsletter.