Rumble

RUM · NASDAQ

$5.83−$0.03 (−0.51%)TodayMarket closed · Oct 20, 4:05 PM ET

Prev close $5.86

RUM analyst rating

HoldConsensus of 1 analyst over the last 12 months. 0% rate it a buy.

Strong buy0
Buy0
Hold1
Underperform0
Sell0

12-month price target · 4 analysts

Average $15.98 (+174.1% upside)

Low: $10.10
Now: $5.83
High: $23.10

Upgrades and downgrades

The latest rating actions, newest first

RUM analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Lake Street	Oct 6, 2026	Initiates	Hold	$25.00	60%

The case for and against

Updated Jan 4, 2025

Bull case

Rumble Inc. demonstrated notable financial performance in the second quarter, with average revenue per user (ARPU) increasing by 19% sequentially to $0.37, indicating improved monetization efforts and an expanding advertiser base. The company's Audience Monetization revenue grew by 27.4% quarter-over-quarter to reach $19.7 million, while Other Initiatives revenue rose by 22.1% sequentially to $2.7 million, reflecting strategic shifts in revenue segmentation and strong demand for its advertising tools. Additionally, Rumble's monthly active users (MAUs) rose by 6% quarter-over-quarter and 21% year-over-year, reaching 53 million, which aligns with positive market sentiment as global advertising budgets are expected to increase through 2024.

Bear case

Rumble Inc. has faced significant financial challenges, reflected in a 13% decline in total revenues quarter-over-quarter, culminating in $18 million for the first quarter. Additionally, the company's adjusted EBITDA remains negative, with losses of $28.7 million noted in the latest quarter and a continuous trend of increasing operational costs impacting profitability. Furthermore, Rumble's market share has drastically reduced to 0.35% as of June 2024, alongside a notable drop in monthly active users by 25% quarter-over-quarter and a decline in average revenue per user (ARPU) of 14%, indicating worsening user engagement and monetization issues.

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