$Rum Group Inc(RUM)$ Q3 revenue guidance is $87M–$93M. At the $90M midpoint, that works out to a $360M annual run rate. With the market cap at $3.62B, the current multiple sits around 10.1x run rate, which puts the stock at $7.17.
If RUM traded at peer multiples, the comparison gets interesting. At IREN's 17.4x, that would be $12.40, up 73%. At NBIS's 17.9x, it would be $12.76, up 78%. At APLD's 18.0x, it would be $12.83, up 79%.
Texas Capital has a $15 price target, which implies 109% upside. Maxim has a $22 target, implying 207% upside.
A $3.62B market cap for a company holding a $13.7B contract. Q3 revenue guidance is up about 120% from Q2's $40.4M. Two Buy ratings and two double-digit price targets.
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