VRM - Vroom soars after strong earnings report shows off e-commerce prowess

JPMorgan sees enough out of Vroom (VRM) to keep an Overweight rating in place and price target of $60. Analyst Rajay Gupta points to strength with the GPU metric and thinks e-commerce growth in the triple digits is possible."VRM is benefiting from strong demand though capacity does not seem to be a constraint given the continued ramp-up in third-party reconditioning capacity (from 19 to 24 in 1Q21). E-comm volume growth of ~96% y/y was strong in 1Q21 and guidance of ~165% y/y growth at midpoint in 2Q21 is solid too (albeit an easier comp but still solid ~15% q/q improvement). VRM now has enough contracted capacity to meet volume targets well beyond 2021 and with further additions expected through the course of the year, VRM expects to cover 50% of US households within 100 miles by the end of 2021." Looking ahead, Gupta and team see a positive setup for

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Vroom soars after strong earnings report shows off e-commerce prowess