Rent the Runway Inc. (NASDAQ:RENT) shares traded 74.26% higher at $2.37 on Wall Street last session.
In accordance with the data, 11 analysts cover Rent the Runway Inc. (NASDAQ:RENT). The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $10.00 and a low of $2.50, we find $6.00. Given the previous closing price of $1.36, this indicates a potential upside of 341.18 percent. RENT stock price is now 36.86% away from the 50-day moving average and -40.25% away from the 200-day moving average. The market capitalization of the company currently stands at $159.07M.
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It has been rated a hold by 3 analysts and a buy by 6. Brokers who have rated the stock have averaged $5.75 as their price target over the next twelve months.
With the price target maintained at $4, Credit Suisse recently Downgraded its rating from Outperform to Neutral for Rent the Runway Inc. (NASDAQ: RENT)., while ‘KeyBanc Capital Markets’ rates the stock as ‘Sector Weight’.
In other news, Donato Brian, Chief Supply Chain Officer sold 10,098 shares of the company’s stock on Nov 02. The stock was sold for $18,303 at an average price of $1.81. Upon completion of the transaction, the Chief Supply Chain Officer now directly owns 537,995 shares in the company, valued at $1.28 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Nov 02, GC & Secretary Schembri Cara sold 893 shares of the business’s stock. A total of $1,619 was realized by selling the stock at an average price of $1.81. This leaves the insider owning 203,001 shares of the company worth $0.48 million. Insiders disposed of 553,893 shares of company stock worth roughly $1.31 million over the past 1 year. A total of 5.30% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in RENT stock. A new stake in Rent the Runway Inc. shares was purchased by DIVISAR CAPITAL MANAGEMENT LLC during the first quarter worth $6,145,000. T. ROWE PRICE INVESTMENT MANAGEMENT, INC. invested $4,794,000 in shares of RENT during the first quarter. In the first quarter, BRIDGEWAY CAPITAL MANAGEMENT, LLC acquired a new stake in Rent the Runway Inc. valued at approximately $565,000. GROUP ONE TRADING, L.P. acquired a new stake in RENT for approximately $246,000. CHIMERA CAPITAL MANAGEMENT LLC purchased a new stake in RENT valued at around $125,000 in the second quarter. In total, there are 116 active investors with 76.50% ownership of the company’s stock.
Rent the Runway Inc. (NASDAQ: RENT) opened at $1.5200 on Thursday. During the past 12 months, Rent the Runway Inc. has had a low of $1.10 and a high of $13.24. As of last week, the company has a debt-to-equity ratio of 0.00, a current ratio of 3.20, and a quick ratio of 3.20. The fifty day moving average price for RENT is $1.7317 and a two-hundred day moving average price translates $3.9663 for the stock.
The latest earnings results from Rent the Runway Inc. (NASDAQ: RENT) was released for Jul, 2022. According to the Apparel Retail Company, earnings per share came in at -$0.53, beating analysts’ expectations of -$0.65 by 0.12. This compares to -$3.75 EPS in the same period last year. The net profit margin was -76.30% and return on equity was -374.80% for RENT. The company reported revenue of $76.5 million for the quarter, compared to $46.7 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 63.81 percent. For the current quarter, analysts expect RENT to generate $73.13M in revenue.
Rent the Runway Inc.(RENT) Company Profile
Rent the Runway, Inc. rents designer wear for women through its stores and online retail. The company offers ready-to-wear, workwear, denim, casual, maternity, outerwear, blouses, knitwear, loungewear, jewelry, handbags, activewear, ski wear, home goods, evening wear, and kids wear, as well as accessories. It also engages in the software development and support activities. The company was incorporated in 2009 and is headquartered in Brooklyn, New York.
