RumbleON price target lowered to $11 from $13 at DA Davidson

DA Davidson lowered the firm’s price target on RumbleON to $11 from $13 and keeps a Buy rating on the shares. The company’s Q2 results missed and the management guided lower, but the bigger story is RumbleON reset on a number of different fronts, including a return to the new management team and the pulling of different levers to improve the balance sheet, the analyst tells investors in a research note.