Rent the Runway (NASDAQ:RENT – Get Free Report) posted its quarterly earnings data on Thursday. The company reported ($4.17) earnings per share (EPS) for the quarter, topping the consensus estimate of ($5.86) by $1.69, Yahoo Finance reports. During the same quarter in the prior year, the company earned ($8.00) EPS. Rent the Runway updated its FY 2024 guidance to EPS and its Q3 2024 guidance to EPS.
Rent the Runway Stock Performance
RENT opened at $15.08 on Friday. Rent the Runway has a twelve month low of $4.46 and a twelve month high of $41.81. The firm has a market cap of $55.34 million, a price-to-earnings ratio of -0.50 and a beta of 1.08. The firm’s 50-day simple moving average is $14.18 and its 200-day simple moving average is $14.67.
Wall Street Analysts Forecast Growth
Separately, JMP Securities boosted their target price 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. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $25.00.
Insider Buying and Selling at Rent the Runway
In other news, CEO Jennifer Hyman sold 4,544 shares of Rent the Runway stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $11.96, for a total value of $54,346.24. Following the completion of the transaction, the chief executive officer now owns 154,215 shares in the company, valued at $1,844,411.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold a total of 7,040 shares of company stock worth $84,200 over the last ninety days. Corporate insiders own 6.60% 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.
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