Rent the Runway, Inc. (NASDAQ:RENT) Receives Consensus Rating of “Moderate Buy” from Analysts

Rent the Runway, Inc. (NASDAQ:RENT) 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.

Insider Activity

In other news, SVP Andrew Rau sold 12,611 shares of the firm’s stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $2.33, for a total transaction of $29,383.63. Following the completion of the transaction, the senior vice president now owns 274,683 shares in the company, valued at approximately $640,011.39. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, SVP Andrew Rau sold 12,611 shares of the firm’s stock in a transaction on Friday, June 16th. The stock was sold at an average price of $2.33, for a total transaction of $29,383.63. Following the completion of the sale, the senior vice president now directly owns 274,683 shares of the company’s stock, valued at approximately $640,011.39. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Siddharth Thacker sold 15,011 shares of the business’s stock in a transaction on Friday, June 16th. The stock was sold at an average price of $2.33, for a total value of $34,975.63. Following the sale, the chief financial officer now directly owns 753,739 shares in the company, valued at $1,756,211.87. The disclosure for this sale can be found here. Insiders sold a total of 267,552 shares of company stock worth $559,876 over the last 90 days. 12.09% of the stock is currently owned by company insiders.

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) 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.