RMBL - RumbleON's Demand Picture Still Challenged Says Analyst | Benzinga
Wedbush analyst Seth Basham reiterated an Outperform rating on the shares of RumbleON Inc (NASDAQ:RMBL) and lowered the price target from $7.50 to $7.
The company reported revenue of $311.1 million for the fourth quarter, down 6.2% Y/Y, missing the analyst consensus estimate of $339.48 million.
The results came in below expectations on the top and bottom lines, and the company also withdrew its 2024 outlook, replacing it with a three-year plan to improve sales and margin.
Longer term, new CEO Mike Kennedy outlined ...