T. Rowe Price Associates, Inc. (I.. recently announced the acquisition of new stake in Vroom Inc. (NASDAQ:VRM). This fresh investment now brings its stake to 13.91% valued currently at $948.75 million. In addition, Durable Capital Partners LP raised its holdings by 5.43 million to 5.43 million shares.
With over 1.01 million Vroom Inc. (VRM) shares trading Tuesday and a closing price of $73.87 on the day, the dollar volume was approximately $74.77 million. The shares have shown a positive weekly performance of 13.02% and its price on 09/01/20 gained nearly 7.64%. Currently, there are 119.34M common shares owned by the public and among those 80.41M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 11 analysts who have offered their price forecasts for VRM have a consensus price objective of $67.90. The analysts have set the share’s price value over the next 12 months at a high of $82.00 and a low of $52.00 should the stock experience a downside. Incidentally, analysts’ outlook for the Vroom Inc. stock is 2.00 for the next 12 months. The average price target is -5.71% below its last price level and a downside to the estimated low will see the stock lose -42.06% over that period. But an upside of 9.91% will see the stock hit the forecast high price target while mean target price for the stock is $67.00.
Insiders at the company have transacted a total of 13 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 13 of these insider trades were purchases, accounting for 51,882,182 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in Vroom Inc. are T Rowe Price New Horizons Fund, T Rowe Price Communications & Tec, and T Rowe Price Small Cap Stock Fund. T Rowe Price New Horizons Fund owns 10.16 million shares of the company’s stock, all valued at over $601.63 million. The company bought an additional 10.16 million shares recently to bring their total holdings to about 8.82% of the shares outstanding. T Rowe Price Small Cap Stock Fund bought 1.63 million shares to bring its total holdings to over 1.63 million shares at a value of $96.67 million. T Rowe Price Small Cap Stock Fund now owns shares totaling to 1.42% of the shares outstanding.
Shares of Vroom Inc. (NASDAQ: VRM) opened at $69.51, up $0.88 from a prior closing price of $68.63. However, the script later closed the day at $73.87, up 7.64%. It has a 12-month low price of $38.46 and touched a high of $72.68 over the same period. Currently, 1.01 million shares have been traded, compared to an average intraday trading volume of 1.72 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 16.86%, 31.88%, and 35.83% respectively.
Institutional ownership of Vroom Inc. (NASDAQ: VRM) shares accounts for 39.00% of the company’s 119.34M shares outstanding. Mutual fund holders own 20.91%, while other institutional holders and individual stakeholders account for 23.88% and — respectively.
It has a market capitalization of $8.97B. Price movements for the stock have been influenced by the stock’s volatility, which stands at 5.85% over the week and 7.36% over the month.
Analysts forecast that Vroom Inc. (VRM) will achieve an EPS of -$0.52 for the current quarter, -$0.48 for the next quarter and -$1.11 for 2021. The lowest estimate earnings-per-share for the quarter is -$1.47 while analysts give the company a high EPS estimate of -$0.31. Earnings per share for the fiscal year are expected to decrease by -180.70%, and 54.70% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 11 brokerage firm advisors rate Vroom Inc. (VRM) as a “Moderate Buy” at a consensus score of 2.00. Specifically, 6 Wall Street analysts polled rate the stock as a buy, while 4 of the 11 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the VRM, a number of firms have released research notes about the stock. Piper Sandler stated their Overweight rating for the stock in a research note on August 26, 2020, with the firm’s price target at $82. The Benchmark Company coverage for the Vroom Inc. (VRM) stock in a research note released on August 14, 2020 offered a Hold rating with a price target of. JP Morgan was of a view on July 08, 2020 that the stock is Neutral, while William Blair gave the stock Outperform rating on July 06, 2020, issuing a price target of. Wells Fargo on their part issued Overweight rating on July 06, 2020.