Rent the Runway (NASDAQ:RENT) Releases Earnings Results, Misses Estimates By $0.49 EPS

Rent the Runway (NASDAQ:RENT) announced its quarterly earnings results on Monday. The company reported ($4.94) earnings per share for the quarter, missing the consensus estimate of ($4.45) by ($0.49), RTT News reports. During the same period in the prior year, the company posted ($8.86) EPS. Rent the Runway updated its Q4 2024 guidance to EPS and its FY 2024 guidance to EPS.

Rent the Runway Stock Performance

NASDAQ RENT opened at $10.02 on Tuesday. The company has a market cap of $38.18 million, a P/E ratio of -0.38 and a beta of 1.18. The business’s 50 day moving average price is $10.05 and its 200-day moving average price is $13.76. Rent the Runway has a fifty-two week low of $4.46 and a fifty-two week high of $41.81.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group dropped their price objective on shares of Rent the Runway from $34.00 to $26.00 and set a “buy” rating for the company in a research note on Friday, September 6th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $24.20.

Insider Buying and Selling

In related news, CEO Jennifer Hyman sold 6,127 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $10.00, for a total value of $61,270.00. Following the sale, the chief executive officer now directly owns 148,088 shares of the company’s stock, valued at $1,480,880. This represents a 3.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders sold a total of 12,587 shares of company stock worth $125,467 over the last three months. 6.60% of the stock is owned by insiders.

Rent the Runway Company Profile

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.