Home  »  Technologies   »  Analysts Are Recommending Rent the Runway Inc. (RE...

Analysts Are Recommending Rent the Runway Inc. (RENT) As A Buy Candidate

Rent the Runway Inc. (NASDAQ:RENT) has seen 0.7 million shares traded in the recent trading session. The company, currently valued at $257.24M, closed the recent trade at $4.08 per share which meant it gained $0.06 on the day or 1.53% during that session. The RENT stock price is -83.58% off its 52-week high price of $7.49 and 73.04% above the 52-week low of $1.10. If we look at the company’s 10-day average daily trading volume, we find that it stood at 1.34 million shares traded. The 3-month trading volume is 2.76 million shares.

The consensus among analysts is that Rent the Runway Inc. (RENT) is an Overweight stock at the moment, with a recommendation rating of 2.20. 0 analysts rate the stock as a Sell, while 2 rate it as Overweight. 4 out of 12 have rated it as a Hold, with 6 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is -$0.56.

Top 5 Undervalued Stocks To Own In 2023

Microchip Maker Releases "World's Most Powerful Data Center CPU". It could allow the company who manufactures it to lead the industry as the global microchip shortage continues into the coming year. We've put together a free research report that explains all the details. Not only will you find out why analysts believe this chip manufacturer could lead the pack, you will also discover four more potential winners for the coming year.

Click here to download your Free Research Report…

Sponsored

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

Sporting 1.53% in the green today, the stock has traded in the green over the last five days, with the highest price hit on Monday, 01/23/23 when the RENT stock price touched $4.08 or saw a rise of 9.53%. Year-to-date, Rent the Runway Inc. shares have moved 31.80%, while the 5-day performance has seen it change 1.52%. Over the past 30 days, the shares of Rent the Runway Inc. (NASDAQ:RENT) have changed 42.55%. Short interest in the company has seen 5.84 million shares shorted with days to cover at 4.73.

Wall Street analysts have a consensus price target for the stock at $5.85, which means that the shares’ value could jump 30.26% from the levels at last check today. The projected low price target is $3.00 while the price target rests at a high of $10.00. In that case, then, we find that the latest price level in today’s session is -145.1% off the targeted high while a plunge would see the stock lose 26.47% from the levels at last check today.

Rent the Runway Inc. (RENT) estimates and forecasts

Figures show that Rent the Runway Inc. shares have outperformed across the wider relevant industry. The company’s shares have lost -4.51% over the past 6 months, with this year growth rate of 73.33%, compared to -17.30% for the industry. Other than that, the company has, however, increased its growth outlook for the 2023 fiscal year revenue. Growth estimates for the current quarter are 91.70% and 17.70% for the next quarter. Revenue growth from the last financial year stood is estimated to be 41.90%.

9 analysts offering their estimates for the company have set an average revenue estimate of $73.13 million for the current quarter. 9 have an estimated revenue figure of $71.66 million for the next quarter concluding in Jan 2023. Year-ago sales stood $56.18 million and $64.1 million respectively for this quarter and the next, and analysts expect sales will grow by 30.20% for the current quarter and 11.80% for the next.

RENT Dividends

Rent the Runway Inc. is expected to release its next earnings report on September 12 this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.

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

Insiders own 5.62% of the company shares, while shares held by institutions stand at 81.62% with a share float percentage of 86.48%. Investors are also buoyed by the number of investors in a company, with Rent the Runway Inc. having a total of 116 institutions that hold shares in the company. The top two institutional holders are Bain Capital Venture Investors, LLC with over 8.18 million shares worth more than $25.1 million. As of Jun 29, 2022, Bain Capital Venture Investors, LLC held 13.26% of shares outstanding.

The other major institutional holder is Price (T.Rowe) Associates Inc, with the holding of over 7.33 million shares as of Jun 29, 2022. The firm’s total holdings are worth over $22.51 million and represent 11.90% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are Franklin Strategic Series-Franklin Small Cap Growth Fund and Fidelity Puritan Fund Inc. As of Jul 30, 2022, the former fund manager holds about 3.33% shares in the company for having 2.05 million shares of worth $9.11 million while later fund manager owns 1.45 million shares of worth $6.45 million as of Jul 30, 2022, which makes it owner of about 2.36% of company’s outstanding stock.

Leave a Comment

Your email address will not be published. Required fields are marked *

On Key

Related Posts