Rent the Runway, Inc. (NASDAQ:RENT – Get Free Report) has earned an average recommendation of “Moderate Buy” from the nine analysts that are covering the firm, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price target among brokers that have covered the stock in the last year is $4.81.
A number of brokerages recently issued reports on RENT. Telsey Advisory Group reissued an “outperform” rating and issued a $4.00 price objective on shares of Rent the Runway in a report on Tuesday, September 5th. Raymond James cut Rent the Runway from an “outperform” rating to a “market perform” rating in a research note on Friday.
Institutional Trading of Rent the Runway
Hedge funds have recently modified their holdings of the business. Citigroup Inc. acquired a new stake in shares of Rent the Runway during the second quarter worth approximately $28,000. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Rent the Runway during the 2nd quarter valued at $32,000. Raymond James & Associates acquired a new position in shares of Rent the Runway in the first quarter worth $33,000. Bank of Montreal Can purchased a new stake in shares of Rent the Runway during the second quarter worth $33,000. Finally, BNP Paribas Arbitrage SNC acquired a new stake in Rent the Runway during the third quarter valued at $33,000. Hedge funds and other institutional investors own 66.51% of the company’s stock.
Rent the Runway Price Performance
NASDAQ:RENT opened at $0.98 on Friday. The firm has a market capitalization of $65.98 million, a P/E ratio of -0.50 and a beta of 0.68. The business has a 50 day simple moving average of $1.63 and a 200 day simple moving average of $2.27. Rent the Runway has a 12-month low of $0.86 and a 12-month high of $5.00.
Rent the Runway (NASDAQ:RENT – Get Free Report) last issued its quarterly earnings data on Friday, September 8th. The company reported ($0.40) earnings per share for the quarter, beating the consensus estimate of ($0.43) by $0.03. The firm had revenue of $75.70 million during the quarter, compared to the consensus estimate of $78.54 million. During the same quarter in the prior year, the business earned ($0.53) earnings per share. Research analysts anticipate that Rent the Runway will post -1.74 EPS for the current fiscal year.
Rent the Runway Company Profile
Rent the Runway, Inc operates shared designer closet in the United States. The company offers evening wear and accessories, ready-to-wear, workwear, denim, casual, maternity, outerwear, blouses, knitwear, loungewear, jewelry, handbags, activewear, and ski wear under subscription, rental, and resale offering.
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