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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Vroom, Inc.    VRM

VROOM, INC.

(VRM)
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Vroom shares tumble as COVID-19 hits first post-IPO results

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08/12/2020 | 10:44pm EDT

Shares of Vroom Inc tumbled 14% on Wednesday, as the COVID-19 pandemic fueled a bigger-than-expected quarterly loss in the online used car seller's first set of results since its blockbuster market debut in June.

Vroom also forecast third-quarter revenue of between $268 million and $290 million, while analysts on average had expected $344.6 million, according to Refinitiv data.

The company's Texas Direct Auto segment sold 1,110 cars in the quarter, 60.2% lower than last year, due to government-mandated "stay-at-home" orders and coronavirus-led disruptions in the Houston area.

Vroom's Chief Executive Paul Hennessy said the drop in demand and uncertainty around vehicle pricing early on in the pandemic led the company to significantly reduce its inventory during the first half of the quarter.

Excluding items, the company posted a net loss of 34 cents per share, compared with analysts' expectation of a 7 cent loss.

However, Vroom's e-commerce revenue jumped 45.2% as auto retailers increasingly turn to e-commerce to arrange for vehicles to be picked up or delivered without requiring customers to visit stores.

Vroom's shares, which debuted on the Nasdaq in early June at an IPO price of $22 apiece, fell to $59.14 in extended trade.

(Reporting by Sanjana Shivdas in Bengaluru; Editing by Devika Syamnath)


Stocks mentioned in the article
ChangeLast1st jan.
LVMH MOËT HENNESSY - LOUIS VUITTON SE -0.37% 402.3 Real-time Quote.-2.51%
NASDAQ COMP. -3.08% 10837.697182 Delayed Quote.27.40%
VROOM, INC. 0.20% 40.3777 Delayed Quote.0.00%
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Financials (USD)
Sales 2020 1 351 M - -
Net income 2020 -197 M - -
Net cash 2020 1 079 M - -
P/E ratio 2020 -15,1x
Yield 2020 -
Capitalization 5 252 M 5 252 M -
EV / Sales 2020 3,09x
EV / Sales 2021 1,72x
Nbr of Employees 800
Free-Float 83,5%
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Technical analysis trends VROOM, INC.
Short TermMid-TermLong Term
TrendsBearishBearishBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 11
Average target price 67,67 $
Last Close Price 40,36 $
Spread / Highest target 101%
Spread / Average Target 67,7%
Spread / Lowest Target -15,8%
EPS Revisions
Managers
NameTitle
Paul J. Hennessy Chief Executive Officer & Director
Robert J. Mylod Chairman
David K. Jones Chief Financial Officer
Michael J. Farello Director
Scott Arnold Dahnke Director
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