UPDATE: Raymond James Starts Vroom (VRM) at Outperform

April 7, 2021 4:20 PM EDT
Get Alerts VRM Hot Sheet
Price: $37.04 -4.14%

Rating Summary:
    12 Buy, 3 Hold, 1 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 18 | Down: 11 | New: 8
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(Updated - April 7, 2021 4:46 PM EDT)

Raymond James analyst Nicholas Bacchus initiates coverage on Vroom (NASDAQ: VRM) with a Outperform rating and a price target of $47.00.

The analyst comments "Our positive fundamental view is based on 1) the large runway for growth in penetration of e-commerce in the used auto space; 2) the large size of the used car market and its vulnerability to disruption; 3) Vroom’s strong positioning and value add to the consumer; 4) Vroom’s asset light model which allows for accelerated scalability; 5) strong opportunity for GPPU improvement; and 6) recent operational challenges provide a favorable risk/reward profile."

For an analyst ratings summary and ratings history on Vroom click here. For more ratings news on Vroom click here.

Shares of Vroom closed at $39.86 yesterday.

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