Rent the Runway (NASDAQ:RENT) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Rent the Runway (NASDAQ:RENT) from a hold rating to a buy rating in a research note issued to investors on Saturday morning.

Separately, Weiss Ratings reiterated a “sell (d)” rating on shares of Rent the Runway in a research report on Monday, December 29th. Two analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Rent the Runway currently has an average rating of “Reduce”.

Rent the Runway Stock Down 7.1%

Shares of RENT opened at $8.04 on Friday. The firm has a market cap of $268.46 million, a price-to-earnings ratio of -2.75 and a beta of 1.26. The business’s 50 day moving average is $6.74 and its two-hundred day moving average is $5.57. Rent the Runway has a 52-week low of $3.69 and a 52-week high of $10.13.

Rent the Runway (NASDAQ:RENT) last released its earnings results on Friday, December 12th. The company reported ($3.54) earnings per share for the quarter, topping the consensus estimate of ($4.87) by $1.33. The company had revenue of $87.60 million during the quarter, compared to the consensus estimate of $73.80 million. On average, equities analysts expect that Rent the Runway will post -18.61 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Romano Brothers AND Company acquired a new stake in Rent the Runway in the 4th quarter valued at about $87,000. Two Sigma Investments LP acquired a new position in Rent the Runway during the third quarter worth $109,000. Park Avenue Securities LLC purchased a new stake in Rent the Runway in the 3rd quarter valued at $136,000. Finally, Quinn Opportunity Partners LLC acquired a new stake in shares of Rent the Runway in the 3rd quarter worth $421,000. Institutional investors and hedge funds own 73.10% of the company’s stock.

Rent the Runway Company Profile

Rent the Runway (NASDAQ: RENT) operates an online marketplace and subscription service that provides designer apparel and accessory rentals to consumers. The company offers both one-time rentals and tiered subscription plans, enabling members to borrow items on a recurring basis rather than purchasing them outright. Rent the Runway’s inventory spans a wide range of brands and styles, including evening gowns, everyday wear, handbags and jewelry, positioning the company within the broader sharing-economy and circular-fashion movements.

Founded in 2009 by Jennifer Hyman and Jennifer Fleiss, Rent the Runway was built on the premise of making high-end fashion more accessible and sustainable.