PREVIEW: Vroom speeds up heading into report

Shift Technologies

11/11/2020 18:11

** Vroom Inc  VRM.O  shares up 7.7% to $41.22 as online
used-car seller preps Q3 report due after the bell
    ** Street consensus calling for VRM to post adj loss of 37
cents/sh on rev of $310.6 mln, per Refinitiv IBES data
    ** Vroom's stock was throttled on Aug 13, falling ~18% after
Q3 rev forecast disappointed in co's first post-IPO report
 urn:newsml:reuters.com:*:nL1N2FF18U
    ** Shares fell again in Sept after co priced equity offering
at $54.50, and said expected e-commerce unit sales of
8,700-8,900, avg total rev/unit of $24,500 and avg gross
profit/unit $1,850-$1,950  urn:newsml:reuters.com:*:nL1N2G80UZ
    ** 10 of 12 analysts rate VRM 'buy' or 'strong buy', 1 is
neutral, while 1 recommends selling the stock; median PT of $70
implies ~70% upside to current levels
    ** Shares up nearly 90% from June IPO price of $22

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com))