Lake Street Capital began coverage on shares of Rumble (NASDAQ:RUM – Free Report) in a report issued on Tuesday, Marketbeat Ratings reports. The brokerage issued a hold rating and a $25.00 price objective on the stock.
Several other equities research analysts have also issued reports on the stock. Wall Street Zen lowered shares of Rumble from a “hold” rating to a “sell” rating in a research note on Saturday, August 15th. Weiss Ratings reissued a “sell (d-)” rating on shares of Rumble in a research report on Friday, July 24th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Rumble currently has a consensus rating of “Reduce” and a consensus target price of $25.00.
View Our Latest Analysis on Rumble
Rumble Trading Up 3.7%
Rumble (NASDAQ:RUM – Get Free Report) last posted its earnings results on Monday, August 10th. The company reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.18). Rumble had a negative net margin of 134.60% and a negative return on equity of 22.77%. The business had revenue of $40.37 million during the quarter, compared to analyst estimates of $31.23 million. During the same quarter last year, the firm earned ($0.12) earnings per share. Rumble’s revenue was up 61.0% compared to the same quarter last year. On average, research analysts forecast that Rumble will post -0.55 EPS for the current fiscal year.
Hedge Funds Weigh In On Rumble
Institutional investors have recently modified their holdings of the company. Integrated Wealth Concepts LLC acquired a new stake in shares of Rumble in the second quarter worth $69,000. State of Wyoming acquired a new position in Rumble in the 1st quarter valued at $62,000. Hsbc Holdings PLC acquired a new position in Rumble in the 1st quarter valued at $81,000. Corient Private Wealth LP bought a new position in Rumble in the 2nd quarter worth $164,000. Finally, Handelsbanken Fonder AB raised its holdings in Rumble by 38.1% in the 2nd quarter. Handelsbanken Fonder AB now owns 39,500 shares of the company’s stock worth $250,000 after acquiring an additional 10,900 shares during the period. Institutional investors own 26.15% of the company’s stock.
Rumble Company Profile
Rumble Inc is a video-sharing and social media company that operates the Rumble platform, where users can upload, watch, livestream and share video content. The company also provides related tools for creators, including audience engagement and monetization services, and generates revenue through advertising, subscriptions and other digital offerings.
In addition to its consumer video platform, Rumble offers cloud infrastructure services through Rumble Cloud. These services are designed to support video hosting, storage, distribution and other online applications.
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