Rent the Runway (NASDAQ:RENT – Get Free Report) posted its quarterly earnings results on Thursday. The company reported ($4.17) earnings per share for the quarter, beating analysts’ consensus estimates of ($5.86) by $1.69, Yahoo Finance reports. The business had revenue of $78.90 million during the quarter, compared to the consensus estimate of $76.60 million. During the same quarter last year, the company posted ($8.00) EPS. Rent the Runway updated its FY 2024 guidance to EPS and its Q3 2024 guidance to EPS.
Rent the Runway Stock Down 27.7 %
Shares of NASDAQ:RENT opened at $10.90 on Friday. Rent the Runway has a 12-month low of $4.46 and a 12-month high of $41.81. The company’s 50 day moving average price is $14.05 and its two-hundred day moving average price is $14.68. The firm has a market cap of $40.00 million, a PE ratio of -0.36 and a beta of 1.08.
Insider Activity
In related news, CEO Jennifer Hyman sold 4,544 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $11.96, for a total transaction of $54,346.24. Following the sale, the chief executive officer now owns 154,215 shares of the company’s stock, valued at $1,844,411.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last ninety days, insiders sold 7,040 shares of company stock worth $84,200. Corporate insiders own 6.60% of the company’s stock.
Analysts Set New Price Targets
Read Our Latest Stock Report on Rent the Runway
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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