Rent the Runway, Inc. (NASDAQ:RENT) Receives $25.86 Consensus PT from Analysts

Rent the Runway, Inc. (NASDAQ:RENT) has received an average rating of “Moderate Buy” from the seven brokerages that are presently covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $25.86.

A number of research firms recently issued reports on RENT. Jefferies Financial Group lowered their target price on Rent the Runway from $34.00 to $26.00 and set a “buy” rating for the company in a research note on Friday, September 6th. JMP Securities increased their price objective on shares of Rent the Runway from $20.00 to $40.00 and gave the stock a “market outperform” rating in a research report on Friday, June 7th.

Insider Activity

In other Rent the Runway news, CEO Jennifer Hyman sold 6,127 shares of the company’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $10.00, for a total transaction of $61,270.00. Following the sale, the chief executive officer now directly owns 148,088 shares of the company’s stock, valued at $1,480,880. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 18,187 shares of company stock worth $195,670 over the last ninety days. Insiders own 6.60% of the company’s stock.

Institutional Trading of Rent the Runway

Several hedge funds and other institutional investors have recently modified their holdings of the stock. CastleKnight Management LP boosted its holdings in shares of Rent the Runway by 304.9% during the fourth quarter. CastleKnight Management LP now owns 545,800 shares of the company’s stock worth $288,000 after acquiring an additional 411,000 shares during the period. Nisa Investment Advisors LLC bought a new stake in Rent the Runway in the 2nd quarter valued at $308,000. XTX Topco Ltd acquired a new position in Rent the Runway in the 2nd quarter valued at $293,000. Susquehanna Fundamental Investments LLC acquired a new position in Rent the Runway in the 2nd quarter valued at $227,000. Finally, Cubist Systematic Strategies LLC bought a new position in Rent the Runway during the 2nd quarter worth $131,000. Institutional investors own 73.10% of the company’s stock.

Rent the Runway Trading Down 15.1 %

Shares of RENT opened at $8.41 on Thursday. The stock has a market cap of $30.88 million, a P/E ratio of -0.28 and a beta of 1.08. Rent the Runway has a 1 year low of $4.46 and a 1 year high of $41.81. The stock’s 50-day moving average price is $12.77 and its two-hundred day moving average price is $14.79.

Rent the Runway (NASDAQ:RENT) last issued its earnings results on Thursday, September 5th. The company reported ($4.17) EPS for the quarter, beating the consensus estimate of ($5.86) by $1.69. The firm had revenue of $78.90 million during the quarter, compared to the consensus estimate of $76.60 million. During the same period in the previous year, the company posted ($8.00) EPS. As a group, equities analysts forecast that Rent the Runway will post -19.08 EPS for the current year.

About Rent the Runway

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.