Rent the Runway (NASDAQ:RENT) Issues Quarterly Earnings Results

Rent the Runway (NASDAQ:RENT) released its earnings results on Monday. The company reported ($4.94) EPS for the quarter, missing analysts’ consensus estimates of ($4.45) by ($0.49), RTT News reports. During the same period in the previous year, the firm earned ($8.86) earnings per share. Rent the Runway updated its Q4 2024 guidance to EPS and its FY 2024 guidance to EPS.

Rent the Runway Price Performance

Rent the Runway stock opened at $9.55 on Wednesday. Rent the Runway has a one year low of $4.46 and a one year high of $41.81. The business’s fifty day moving average is $10.06 and its 200 day moving average is $13.62. The stock has a market capitalization of $36.37 million, a PE ratio of -0.43 and a beta of 1.18.

Wall Street Analyst Weigh In

Several brokerages recently commented on RENT. Jefferies Financial Group cut their price objective on shares of Rent the Runway from $34.00 to $26.00 and set a “buy” rating on the stock in a research report on Friday, September 6th. JMP Securities reiterated a “market outperform” rating and issued a $40.00 target price on shares of Rent the Runway in a research note on Tuesday. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $24.20.

Insiders Place Their Bets

In other Rent the Runway news, CEO Jennifer Hyman sold 6,127 shares of Rent the Runway stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $10.00, for a total value of $61,270.00. Following the completion of the sale, the chief executive officer now owns 148,088 shares of the company’s stock, valued at approximately $1,480,880. The trade was a 3.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 12,587 shares of company stock valued at $125,467. 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.