RumbleON, Inc. RMBL shares soared 6.9% in the last trading session to close at $11.05. The move was backed by solid volume with far more shares changing hands than in a normal session. This compares to the stock’s 6.3% loss over the past four weeks.
The stock has been in upward direction for the last couple of trading days following the company’s announcement of entering into a binding agreement on Jun 15 with its stockholders – William Coulter and Mark Tkach – relating to the settlement of all outstanding matters including management and director changes.
This company is expected to post quarterly earnings of $0.13 per share in its upcoming report, which represents a year-over-year change of -89.2%. Revenues are expected to be $399.42 million, down 26.9% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For RumbleON, Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock’s price usually doesn’t keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on RMBL going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks Rank #1 (Strong Buy) stocks here >>>>
RumbleON, Inc. is a member of the Zacks Internet – Services industry. One other stock in the same industry, Sprout Social SPT, finished the last trading session 3.9% lower at $48.41. SPT has returned 9% over the past month.
For Sprout Social
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