Vroom stock price target raised to $65 from $55 at Stifel Nicolaus

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Vroom Inc.

Vroom, Inc. engages in providing ecommerce platform for buy and sell of used vehicles. The company operates through the following segments: Ecommerce, Texas Direct Auto (TDA), and Wholesale. The Ecommerce segment represents retail sales of used vehicles through the its ecommerce platform and fees earned on sales of value-added products associated with those vehicles sales. The TDA segment handles s retail sales of used vehicles from TDA and fees earned on sales of value-added products associated with those vehicles sales. The Wholesale segment involves in sales of used vehicles through wholesale auctions. The company was founded by Kevin P. Westfall, Elie C. Wurtman, Allon Bloch, Mike Welch, Richard Williams, and Marshall Chesrown on January 31, 2012 and is headquartered in New York, NY.

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