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The Time Is Right To Purchase Rent the Runway Inc. (NASDAQ: RENT)

During the last session, Rent the Runway Inc. (NASDAQ:RENT)’s traded shares were 0.52 million. At the end of the trading day, the stock’s price was $4.69, reflecting an intraday gain of 1.30% or $0.06. The 52-week high for the RENT share is $24.77, that puts it down -428.14 from that peak though still a striking 36.25% gain since the share price plummeted to a 52-week low of $2.99. The company’s market capitalization is $293.03M, and the average intraday trading volume over the past 10 days was 0.5 million shares, and the average trade volume was 1.13 million shares over the past three months.

Rent the Runway Inc. (RENT) received a consensus recommendation of a Buy from analysts. That translates to a mean rating of 1.90. RENT has a Sell rating from 0 analyst(s) out of 11 analysts who have looked at this stock. 1 analyst(s) recommend to Hold the stock while 2 suggest Overweight, and 8 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be -$0.65.

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Rent the Runway Inc. (NASDAQ:RENT) trade information

Rent the Runway Inc. (RENT) registered a 1.30% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 1.30% in intraday trading to $4.69 this Friday, 08/05/22, hitting a weekly high. The stock’s 5-day price performance is 5.63%, and it has moved by 25.07% in 30 days. The short interest in Rent the Runway Inc. (NASDAQ:RENT) is 9.29 million shares and it means that shorts have 9.23 day(s) to cover.

The consensus price target of analysts on Wall Street is $10.60, which implies an increase of 55.75% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $7.00 and $14.00 respectively. As a result, RENT is trading at a discount of -198.51% off the target high and -49.25% off the low.

Rent the Runway Inc. (RENT) estimates and forecasts

Statistics show that Rent the Runway Inc. has outperformed its competitors in share price, compared to the industry in which it operates. Rent the Runway Inc. (RENT) shares have gone down -6.01% during the last six months, with a year-to-date growth rate more than the industry average at 68.74% against -6.30. In the rating firms’ projections, revenue will increase 49.50% compared to the previous financial year.

Revenue for the current quarter is expected to be $73.26 million as predicted by 9 analyst(s). Meanwhile, a consensus of 9 analyst(s) estimates revenue growth to $79.72 million by the end of Oct 2022.

While earnings are projected to return -23.50% in 2022.

RENT Dividends

Rent the Runway Inc. is due to release its next quarterly earnings on December 08. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance.

Rent the Runway Inc. (NASDAQ:RENT)’s Major holders

Rent the Runway Inc. insiders own 5.19% of total outstanding shares while institutional holders control 82.39%, with the float percentage being 86.90%. Bain Capital Venture Investors, LLC is the largest shareholder of the company, while 104 institutions own stock in it. As of Mar 30, 2022, the company held over 8.18 million shares (or 13.40% of all shares), a total value of $56.34 million in shares.

The next largest institutional holding, with 6.37 million shares, is of Price (T.Rowe) Associates Inc’s that is approximately 10.44% of outstanding shares. At the market price on Mar 30, 2022, these shares were valued at $43.92 million.

Also, the Mutual Funds coming in first place with the largest holdings of Rent the Runway Inc. (RENT) shares are Franklin Strategic Series-Franklin Small Cap Growth Fund and Fidelity Puritan Fund Inc. Data provided on Apr 29, 2022 indicates that Franklin Strategic Series-Franklin Small Cap Growth Fund owns about 2.47 million shares. This amounts to just over 4.04 percent of the company’s overall shares, with a $15.64 million market value. The same data shows that the other fund manager holds slightly less at 1.6 million, or about 2.63% of the stock, which is worth about $6.94 million.

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