Rent the Runway, Inc. (NASDAQ:RENT) Receives $25.86 Average Price Target from Analysts

Shares of Rent the Runway, Inc. (NASDAQ:RENT) have received an average rating of “Moderate Buy” from the seven ratings firms that are covering the stock, MarketBeat reports. Three 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.

Separately, Jefferies Financial Group decreased their price objective on shares of Rent the Runway from $34.00 to $26.00 and set a “buy” rating on the stock in a report on Friday, September 6th.

Insider Transactions at Rent the Runway

In other news, CEO Jennifer Hyman sold 6,127 shares of Rent the Runway 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 completion of the sale, the chief executive officer now directly owns 148,088 shares of the company’s stock, valued at approximately $1,480,880. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders sold 18,187 shares of company stock valued at $195,670. 6.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Rent the Runway

Several large investors have recently bought and sold shares of RENT. Meeder Asset Management Inc. purchased a new stake in Rent the Runway in the second quarter valued at approximately $33,000. Point72 DIFC Ltd acquired a new position in shares of Rent the Runway in the 2nd quarter valued at $70,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Rent the Runway in the 2nd quarter valued at $72,000. Summit Securities Group LLC acquired a new stake in Rent the Runway during the 2nd quarter worth $86,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in Rent the Runway during the 2nd quarter worth $131,000. Institutional investors and hedge funds own 73.10% of the company’s stock.

Rent the Runway Price Performance

Shares of Rent the Runway stock opened at $9.78 on Monday. The stock’s 50 day simple moving average is $10.92 and its 200-day simple moving average is $15.16. The stock has a market cap of $35.91 million, a P/E ratio of -0.33 and a beta of 1.04. Rent the Runway has a 1-year low of $4.46 and a 1-year high of $41.81.

Rent the Runway (NASDAQ:RENT) last released its quarterly earnings data on Thursday, September 5th. The company reported ($4.17) earnings per share for the quarter, topping analysts’ consensus estimates of ($5.86) by $1.69. The company had revenue of $78.90 million for the quarter, compared to analyst estimates of $76.60 million. During the same period last year, the firm posted ($8.00) EPS. As a group, research analysts expect that Rent the Runway will post -19.08 EPS for the current fiscal 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.