Research Recommendations For Rent the Runway Inc. (RENT): Here is What You Should Know

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Rent the Runway Inc. (NASDAQ:RENT) saw a downside of -6.21% to $3.64 after subtracting -$0.24 on Wednesday. The 5-day average trading volume is 933,962 shares of the company’s common stock. It has gained $4.51 in the past week and touched a new high 4 times within the past 5 days. An average of 1,504,695 shares of the company has been traded in the last 20 days, and the 50-day average volume stands at 3,246,934.

RENT’s 1-month performance is 31.97% or $0.67 on its low of $2.81 reached on 12/27/22. The company’s shares have touched a 52-week low of $1.10 and high of $7.49, with the stock’s rally to the 52-week high happening on 01/24/23. YTD, RENT has achieved 27.21% or $0.62 and has reached a new high 8 times. However, the current price is down -51.42% from the 52-week high price.

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Insider Transactions

RENT stock investors last saw insider trading activity on Nov 02.Donato Brian (Chief Supply Chain Officer) most recently sold 10,098 shares at $1.81 per share on Nov 02. This transaction cost the insider $18,303. GC & Secretary, Schembri Cara, sold 893 shares at a price of $1.81 on Nov 02. Then, on Nov 02, President & COO Salinas Anushka sold 6,261 shares at a price of $1.81 per share. This transaction amounted to $11,348.

Valuation Metrics

Moving on to other valuation ratios, the trailing price-to-sales (P/S) ratio is 0.87.

Rent the Runway Inc.’s quick ratio for the period ended October 30 was 2.60, with the current ratio over the same period at 2.60. The firm’s gross profit as reported stood at $141.4 million against revenue of $203.3 million.

Earnings Surprise

For the quarterly period ending October 30 this year, Net income and sales went up compared to those figures reported in the previous quarter. Net income shrunk -143.21% to -$36.1 million, while revenue of -$33.9 million was 6.09% off the previous quarter. Analysts expected RENT to announce -$0.56 per share in earnings in its latest quarter, but it posted -$0.56, representing a 0.00% surprise. EBITDA for the quarter stood at more than -$10.1 million. RENT stock balance sheet for the quarter ending October 30 shows that total liabilities totaled 389.6 million, with total debt at $318.5 million. Shareholders hold equity totaling $65.02 million.

Let’s look briefly at Rent the Runway Inc. (RENT) price momentum from a technical analysis perspective. The 9-day relative strength index as at close on 24 January was 51.38% to suggest the stock is trending Neutral, with historical volatility in this time period at 53.11%.

The stock’s 5-day moving average is $3.81, reflecting a -4.06% or -$0.15 change from its current price. RENT is currently trading +22.58% above its 20-day SMA, -17.64% above its 100-day SMA. However, the stock’s current price level is away from the SMA50 by +124.85% and SMA200 by-33.48%.

Stochastic %K and %D was 63.95% and 70.56% and the average true range (ATR) pointed at 0.38. The RSI (14) points at 56.59%, while the 14-day stochastic is at 42.51% with the period’s ATR at 0.38. The stock’s 9-day MACD Oscillator is pointing at 0.01 and 0.05 on the 14-day charts.

Analyst Ratings

In the most recent analyst report for Rent the Runway Inc. (NASDAQ: RENT), Wolfe Research launched coverage with a Peer perform rating. Analysts offering their rating for RENT stock have a consensus rating for the stock as Overweight. Currently, 0 brokerage advisors rate RENT as a “sell,”, while 4 advise that investors “Hold.” 0 analysts have rated the stock as underweight. 2 rates the stock as overweight while 6 have offered a “buy” rating.

What is RENT’s price target for the next 12 months?

Analysts have a consensus price target ranging from a low of $3.00 and a high of $10.00, with their median price target at $6.00. Looking at these predictions, the average price target given by analysts is for Rent the Runway Inc. (RENT) stock is $5.85.

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