Rumble (NASDAQ:RUM) Price Target Cut to $10.00 by Analysts at Wedbush

Rumble (NASDAQ:RUM) had its price target lowered by Wedbush from $13.00 to $10.00 in a research note published on Wednesday,Benzinga reports. The firm currently has a neutral rating on the stock. Wedbush also issued estimates for Rumble’s Q1 2025 earnings at ($0.08) EPS, Q2 2025 earnings at ($0.10) EPS, Q3 2025 earnings at ($0.11) EPS, Q4 2025 earnings at ($0.06) EPS, FY2025 earnings at ($0.35) EPS and FY2026 earnings at ($0.29) EPS.

Separately, Maxim Group started coverage on Rumble in a research report on Wednesday, January 15th. They set a “buy” rating and a $20.00 price objective on the stock.

Rumble Trading Down 6.0 %

NASDAQ RUM opened at $7.24 on Wednesday. Rumble has a twelve month low of $4.92 and a twelve month high of $17.40. The stock has a market cap of $2.82 billion, a PE ratio of -11.49 and a beta of 0.56. The stock has a fifty day simple moving average of $10.21 and a 200-day simple moving average of $8.50.

Rumble (NASDAQ:RUM) last released its quarterly earnings results on Tuesday, March 25th. The company reported ($1.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($1.02). Rumble had a negative return on equity of 62.75% and a negative net margin of 152.81%. The firm had revenue of $30.20 million for the quarter, compared to analyst estimates of $29.74 million. The business’s revenue for the quarter was up 48.0% compared to the same quarter last year. Research analysts predict that Rumble will post -0.62 EPS for the current year.

Insider Transactions at Rumble

In other Rumble news, CFO Brandon Alexandroff sold 6,828,420 shares of the firm’s stock in a transaction dated Friday, February 7th. The stock was sold at an average price of $7.50, for a total transaction of $51,213,150.00. Following the transaction, the chief financial officer now owns 64,210 shares of the company’s stock, valued at approximately $481,575. This trade represents a 99.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ryan Milnes sold 24,978,210 shares of the business’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $7.50, for a total value of $187,336,575.00. Following the completion of the sale, the director now directly owns 57,290 shares of the company’s stock, valued at $429,675. The trade was a 99.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 41,104,017 shares of company stock valued at $308,280,128. Insiders own 70.10% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Rumble by 44.1% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 103,400 shares of the company’s stock valued at $1,345,000 after acquiring an additional 31,654 shares in the last quarter. Voloridge Investment Management LLC acquired a new stake in shares of Rumble in the 4th quarter valued at approximately $408,000. Two Sigma Investments LP purchased a new position in Rumble in the fourth quarter worth $4,093,000. OMERS ADMINISTRATION Corp acquired a new stake in Rumble in the fourth quarter valued at $753,000. Finally, Measured Risk Portfolios Inc. purchased a new position in shares of Rumble in the 4th quarter valued at about $65,000. Institutional investors and hedge funds own 26.15% of the company’s stock.

About Rumble

Rumble Inc operates video sharing platforms in the United States, Canada, and internationally. The company operates rumble.com, a free-to-use video sharing and livestreaming platform where users can subscribe to channels to stay in touch with creators, and access video on-demand (VOD) and live content streamed by creators.