Vroom, Inc. (NASDAQ:VRM) – Equities research analysts at Wedbush boosted their Q1 2021 earnings estimates for shares of Vroom in a research note issued on Tuesday, April 13th. Wedbush analyst S. Basham now forecasts that the company will post earnings per share of ($0.56) for the quarter, up from their prior forecast of ($0.57). Wedbush has a “Outperform” rating and a $50.00 price objective on the stock. Wedbush also issued estimates for Vroom’s Q3 2021 earnings at ($0.45) EPS, FY2021 earnings at ($1.98) EPS and FY2022 earnings at ($2.10) EPS.
Other equities research analysts have also issued reports about the company. Raymond James began coverage on Vroom in a report on Tuesday. They issued an “outperform” rating and a $47.00 target price for the company. Jefferies Financial Group reduced their target price on Vroom from $45.00 to $43.00 and set a “hold” rating for the company in a report on Thursday, March 4th. They noted that the move was a valuation call. Zacks Investment Research downgraded Vroom from a “hold” rating to a “sell” rating in a research report on Friday. Stifel Nicolaus dropped their price target on Vroom from $65.00 to $55.00 and set a “buy” rating on the stock in a research report on Thursday, March 4th. Finally, Piper Sandler dropped their price target on Vroom from $75.00 to $60.00 and set an “overweight” rating on the stock in a research report on Thursday, March 4th. Three analysts have rated the stock with a sell rating, three have given a hold rating and thirteen have issued a buy rating to the company. Vroom currently has an average rating of “Buy” and an average price target of $56.21.
Vroom (NASDAQ:VRM) last announced its quarterly earnings results on Tuesday, March 2nd. The company reported ($0.44) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.37) by ($0.07). The firm had revenue of $405.80 million during the quarter, compared to analyst estimates of $401.20 million. Vroom’s revenue for the quarter was up 14.1% compared to the same quarter last year.
In other Vroom news, insider Patricia Moran sold 29,400 shares of the business’s stock in a transaction on Tuesday, February 9th. The stock was sold at an average price of $50.00, for a total value of $1,470,000.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CRO Mark E. Roszkowski sold 21,875 shares of the business’s stock in a transaction on Tuesday, February 16th. The stock was sold at an average price of $51.38, for a total value of $1,123,937.50. Following the completion of the transaction, the executive now directly owns 57,015 shares in the company, valued at approximately $2,929,430.70. The disclosure for this sale can be found here. In the last three months, insiders sold 1,488,900 shares of company stock worth $55,484,493.
Several institutional investors and hedge funds have recently modified their holdings of VRM. General Catalyst Group Management LLC acquired a new position in shares of Vroom during the fourth quarter valued at $247,937,000. Baillie Gifford & Co. lifted its stake in shares of Vroom by 131.1% during the fourth quarter. Baillie Gifford & Co. now owns 9,868,922 shares of the company’s stock valued at $404,330,000 after acquiring an additional 5,599,391 shares during the period. BlackRock Inc. lifted its stake in Vroom by 19.8% in the fourth quarter. BlackRock Inc. now owns 6,071,612 shares of the company’s stock valued at $248,754,000 after buying an additional 1,002,994 shares during the period. Brown Advisory Inc. acquired a new position in Vroom in the fourth quarter valued at about $35,197,000. Finally, Penserra Capital Management LLC acquired a new position in Vroom in the fourth quarter valued at about $28,501,000. 37.59% of the stock is currently owned by institutional investors and hedge funds.
Vroom, Inc operates an e-commerce platform for buying, selling, and trading of new and used cars in the United States. It also offers financing solutions. The company was formerly known as Auto America, Inc and changed its name to Vroom, Inc in July 2015. The company was founded in 2012 and is headquartered in New York, New York.
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