Shares of RumbleON (NASDAQ:RMBL) soared today after it reported earnings for its first quarter of Fiscal Year 2023. Adjusted earnings per share came in at $0.05, which beat analysts’ consensus estimate of -$0.31 per share. Sales fell by 22.2% year-over-year, with revenue hitting $346.3 million. This was more than $11 million above expectations.
Looking forward, management now expects revenue and adjusted EBITDA for Fiscal Year 2023 to be in the ranges of $1.4 billion to $1.6 billion and $95 million to $105 million, respectively. For reference, analysts were expecting $1.504 billion in revenue and an EBITDA figure of $94.825 million.
Overall, Wall Street analysts have a consensus price target of $11.40 on RMBL stock, implying over 24% upside potential, as indicated by the graphic above.
