Rent the Runway, Inc. (NASDAQ:RENT) Receives $25.00 Consensus PT from Analysts

Rent the Runway, Inc. (NASDAQ:RENT) has earned a consensus rating of “Hold” from the eight brokerages that are currently covering the company, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $25.00.

Separately, JMP Securities upped their price target on shares of Rent the Runway from $20.00 to $40.00 and gave the company a “market outperform” rating in a research report on Friday, June 7th.

Rent the Runway Stock Performance

RENT stock opened at $12.22 on Friday. Rent the Runway has a 52-week low of $4.46 and a 52-week high of $41.81. The company has a market capitalization of $44.87 million, a P/E ratio of -0.41 and a beta of 1.10. The company has a fifty day moving average price of $14.70 and a 200-day moving average price of $14.55.

Rent the Runway (NASDAQ:RENT) last posted its quarterly earnings data on Thursday, June 6th. The company reported ($6.03) EPS for the quarter, topping analysts’ consensus estimates of ($6.56) by $0.53. The company had revenue of $75.00 million during the quarter, compared to analyst estimates of $73.20 million. As a group, sell-side analysts forecast that Rent the Runway will post -22.21 earnings per share for the current fiscal year.

Insider Buying and Selling at Rent the Runway

In other Rent the Runway news, CEO Jennifer Hyman sold 4,544 shares of Rent the Runway stock in a transaction dated Monday, August 5th. The stock was 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 owns 154,215 shares in the company, valued at approximately $1,844,411.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders sold 7,040 shares of company stock worth $84,200. 6.60% of the stock is owned by corporate insiders.

Institutional Trading of Rent the Runway

Several institutional investors and hedge funds have recently made changes to their positions in the company. Meeder Asset Management Inc. bought a new position in shares of Rent the Runway during the 2nd quarter worth approximately $33,000. Breed s Hill Capital LLC purchased a new stake in shares of Rent the Runway during the fourth quarter valued at approximately $53,000. Point72 DIFC Ltd bought a new stake in Rent the Runway during the second quarter worth $70,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in Rent the Runway in the second quarter worth $72,000. Finally, Summit Securities Group LLC bought a new position in Rent the Runway in the 2nd quarter valued at $86,000. Hedge funds and other institutional investors own 73.10% of the company’s stock.

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.