Rent the Runway Inc. (NASDAQ:RENT) traded at $3.88 at close of the session on Tuesday, 01/24/23, made a downward move of -3.48% on its previous day’s price.
Looking at the stock we see that its previous close was $4.02 with the day’s price range being $3.84 – $4.51. In terms of its 52-week price range, RENT has a high of $7.49 and a low of $1.10. The company’s stock has gained about 31.97% over that past 30 days.
Rent the Runway Inc. has a market cap of $248.28 million and is expected to release its quarterly earnings report on Sep 12, 2022. Estimates by analysts give the company expected earnings per share (EPS) of -$0.56, with the EPS growth for the year raised at -$2.26 for 2023 and -$1.91 for next year. These figures represent 73.40% and 15.50% growth in EPS for the two years respectively.
Analysts tracking the company’s growth have also given it a consensus growth in revenue estimated at $73.13 million, with a low of $71.3 million and a high of $74 million. The median projection represents growth squeezing down to 30.20% compared to sales growth for the corresponding quarter a year ago. According to analyst consensus estimates figures, the company’s yearly revenue forecast for 2023 is expected to hit $288.55 million, or 41.90% up from figures reported last year.
There have been no upward and no downward revisions for the stock’s EPS in last 7 days, something that reflects the nature of company’s price movement in short term. On the other hand, looking at the outlook for the RENT stock, short term indicators assign the stock an average of 75% Buy, while medium term indicators assign it an average of Hold. Long term indicators on average place the stock in the category of 50% Buy.
Based on estimates by 12 analysts, where scores have ranged from 1.00 for a strong buy to 5.00 for a strong sell, 4 have rated the Rent the Runway Inc. (RENT) stock as a Hold, while 6 rate it as a Buy. 2 analyst(s) rate it as overweight while 0 of them rated it as underweight, whereas 0 suggest the stock as a Sell. The stock has an overall rating of Overweight and investors could take advantage and scoop up stock of the company.
Looking further, we note the current price level is 10.59% off its SMA20 and 51.98% from its 50-day simple moving average. The RSI (14) is pointing at 62.76 while the volatility over the past week is 9.36% and jumps to 11.43% over the past one month. The average price target for the stock over the next 12 months is $5.85, with the estimates having a low of $3.00 and a high of $10.00. These price ends are 22.68% and -157.73% off the current price level respectively, although investors could be excited at the prospect of a -54.64% if the RENT share price touches on the median price of $6.00.
Let’s briefly compare Rent the Runway Inc. (RENT) stock to its peers. We find that current price change of -3.48% and -17.97% over the past 12 months for RENT competes that of Amazon.com Inc. (AMZN), which has seen its stock price fall -1.23% in the last trading session and was -32.47% over the last one year. Another of its peers Walmart Inc. (WMT) has gained 0.27% previous session, and was 2.02% up over the past year, while NIKE Inc. (NKE) was also down -1.14% in the last session, while its price remained in the red at -11.28% over the same period.. In contrast to these companies, both the S&P 500 Index and the Dow Jones Industrial were at -0.07% and 0.31%, respectively, at close of the trading.
Coming back to Rent the Runway Inc. (NASDAQ:RENT), we note that the average 3-month trading volume was 2.76 million, while that of the preceding 10-day period stands at 1.34 million. Current shares outstanding are 64.52 million.
The insiders hold 5.30% of the company’s shares while institutions hold 75.90%. The data shows that short shares as of Oct 13, 2022, stood at 5.84 million at a short ratio of 4.73. This represents a 9.02% short interest in shares outstanding on Oct 13, 2022. Shares short rose in October from the previous month at 5.77 million. Investors should be excited about this stock as its upside potential is great, with current price pushing the stock 27.21% up in year-to-date price movement.