Rent the Runway, Inc. (NASDAQ:RENT) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Rent the Runway, Inc. (NASDAQ:RENT) have been assigned a consensus rating of “Moderate Buy” from the seven research firms that are covering the firm, MarketBeat reports. Three investment analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $25.86.

Several equities analysts have issued reports on the stock. JMP Securities increased their price objective on shares of Rent the Runway from $20.00 to $40.00 and gave the company a “market outperform” rating in a report on Friday, June 7th. Jefferies Financial Group reduced their price target 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.

Insider Transactions at Rent the Runway

In other Rent the Runway news, CEO Jennifer Hyman sold 6,127 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $10.00, for a total value of $61,270.00. Following the completion of the transaction, the chief executive officer now owns 148,088 shares in the company, valued at $1,480,880. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In the last quarter, insiders sold 18,187 shares of company stock worth $195,670. Company insiders own 6.60% of the company’s stock.

Hedge Funds Weigh In On Rent the Runway

Several hedge funds have recently bought and sold shares of the stock. Point72 DIFC Ltd purchased a new position in shares of Rent the Runway during the 2nd quarter worth $70,000. Cubist Systematic Strategies LLC purchased a new position in Rent the Runway during the second quarter worth about $131,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Rent the Runway in the 2nd quarter worth about $72,000. Susquehanna Fundamental Investments LLC purchased a new stake in Rent the Runway in the 2nd quarter valued at about $227,000. Finally, XTX Topco Ltd acquired a new position in shares of Rent the Runway during the 2nd quarter valued at about $293,000. Hedge funds and other institutional investors own 73.10% of the company’s stock.

Rent the Runway Stock Performance

Shares of RENT stock opened at $9.62 on Thursday. Rent the Runway has a fifty-two week low of $4.46 and a fifty-two week high of $41.81. The firm has a market capitalization of $35.32 million, a PE ratio of -0.32 and a beta of 1.08. The stock’s 50-day simple moving average is $13.31 and its 200-day simple moving average is $14.85.

Rent the Runway (NASDAQ:RENT) last posted its earnings results on Thursday, September 5th. The company reported ($4.17) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($5.86) by $1.69. The business had revenue of $78.90 million for the quarter, compared to analyst estimates of $76.60 million. During the same quarter in the prior year, the firm earned ($8.00) earnings per share. Sell-side analysts forecast that Rent the Runway will post -19.08 earnings per share 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.