Analysts Set Rent the Runway, Inc. (NASDAQ:RENT) Target Price at $25.00

Shares of Rent the Runway, Inc. (NASDAQ:RENT) have been assigned an average rating of “Hold” from the eight ratings firms that are covering the company, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month target price among brokerages that have issued a report on the stock in the last year is $25.00.

RENT has been the subject of a number of recent analyst reports. The Goldman Sachs Group reduced their price objective on shares of Rent the Runway from $40.00 to $28.00 and set a “buy” rating for the company in a research report on Friday, April 12th. JMP Securities upped 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.

Rent the Runway Trading Up 9.5 %

RENT opened at $11.00 on Wednesday. Rent the Runway has a 1-year low of $4.46 and a 1-year high of $41.81. The company has a market cap of $40.37 million, a P/E ratio of -0.37 and a beta of 1.10. The company has a fifty day moving average price of $18.54 and a two-hundred day moving average price of $14.52.

Rent the Runway (NASDAQ:RENT) last posted its earnings results on Thursday, June 6th. The company reported ($6.03) EPS for the quarter, topping the consensus estimate of ($6.56) by $0.53. The business had revenue of $75.00 million for the quarter, compared to the consensus estimate of $73.20 million. On average, research analysts forecast that Rent the Runway will post -22.21 EPS for the current fiscal year.

Institutional Trading of Rent the Runway

Several institutional investors and hedge funds have recently bought and sold shares of RENT. Russell Investments Group Ltd. purchased a new stake in Rent the Runway in the 4th quarter worth approximately $1,568,000. Breed s Hill Capital LLC bought a new position in shares of Rent the Runway in the 4th quarter worth $53,000. CastleKnight Management LP increased its holdings in shares of 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 buying an additional 411,000 shares during the last quarter. Nisa Investment Advisors LLC bought a new position in shares of Rent the Runway in the 2nd quarter worth $308,000. Finally, Summit Securities Group LLC bought a new position in shares of Rent the Runway in the 2nd quarter worth $86,000. 73.10% of the stock is currently owned by hedge funds and other institutional investors.

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.