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

Shares of Rent the Runway, Inc. (NASDAQ:RENT) have earned a consensus rating of “Moderate Buy” from the seven research firms that are covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $25.86.

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

Insider Transactions at Rent the Runway

In related news, CEO Jennifer Hyman sold 4,544 shares of the firm’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $11.96, for a total transaction of $54,346.24. Following the completion of the transaction, the chief executive officer now directly owns 154,215 shares of the company’s stock, valued at $1,844,411.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders have sold 18,187 shares of company stock valued at $195,670. 6.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rent the Runway

A number of hedge funds have recently made changes to their positions in the company. CastleKnight Management LP increased its stake in Rent the Runway by 304.9% in the 4th 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 last quarter. Nisa Investment Advisors LLC purchased a new position in shares of Rent the Runway in the second quarter valued at $308,000. Summit Securities Group LLC bought a new stake in Rent the Runway in the second quarter worth $86,000. Meeder Asset Management Inc. bought a new stake in Rent the Runway in the second quarter worth $33,000. Finally, XTX Topco Ltd purchased a new stake in Rent the Runway during the second quarter valued at $293,000. 73.10% of the stock is currently owned by hedge funds and other institutional investors.

Rent the Runway Trading Down 0.8 %

NASDAQ:RENT opened at $9.55 on Thursday. The company has a market cap of $35.07 million, a PE ratio of -0.32 and a beta of 1.08. The company has a 50 day simple moving average of $12.24 and a two-hundred day simple moving average of $14.89. Rent the Runway has a 12 month low of $4.46 and a 12 month high of $41.81.

Rent the Runway (NASDAQ:RENT) last issued its quarterly earnings data on Thursday, September 5th. The company reported ($4.17) EPS for the quarter, topping 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 firm earned ($8.00) EPS. Research analysts forecast that Rent the Runway will post -19.08 earnings per share for the current 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.