RealReal (NASDAQ:REAL) Raised to “Buy” at Wall Street Zen

RealReal (NASDAQ:REAL) was upgraded by Wall Street Zen from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Sunday.

Other equities research analysts have also recently issued research reports about the stock. Northland Securities set a $20.00 price target on shares of RealReal in a research report on Wednesday, January 14th. Robert W. Baird set a $15.00 target price on RealReal in a report on Wednesday, December 17th. B. Riley lifted their price target on RealReal from $14.00 to $17.00 and gave the company a “buy” rating in a report on Friday, December 12th. Wells Fargo & Company upped their price objective on RealReal from $15.00 to $20.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 16th. Finally, William Blair started coverage on shares of RealReal in a report on Monday, December 15th. They issued an “outperform” rating for the company. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, RealReal has an average rating of “Moderate Buy” and an average price target of $17.44.

RealReal Stock Up 1.7%

Shares of REAL opened at $16.59 on Friday. The business has a fifty day moving average of $15.09 and a 200 day moving average of $10.91. The company has a market cap of $1.94 billion, a PE ratio of -12.02 and a beta of 2.60. RealReal has a 52-week low of $4.61 and a 52-week high of $17.25.

RealReal (NASDAQ:REAL) last issued its quarterly earnings results on Monday, November 10th. The company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.35). The firm had revenue of $173.57 million during the quarter, compared to analysts’ expectations of $169.01 million. As a group, research analysts anticipate that RealReal will post -0.4 earnings per share for the current fiscal year.

Insider Buying and Selling

In other RealReal news, CEO Levesque Rati Sahi sold 97,036 shares of RealReal stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $13.06, for a total transaction of $1,267,290.16. Following the completion of the sale, the chief executive officer directly owned 1,604,178 shares in the company, valued at $20,950,564.68. This trade represents a 5.70% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gilbert L. Baird III sold 7,686,442 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $13.21, for a total transaction of $101,537,898.82. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 15,823,249 shares of company stock valued at $209,258,341 in the last ninety days. Company insiders own 9.00% of the company’s stock.

Institutional Investors Weigh In On RealReal

Several institutional investors and hedge funds have recently modified their holdings of the company. Comerica Bank grew its position in RealReal by 0.3% in the 3rd quarter. Comerica Bank now owns 351,156 shares of the company’s stock valued at $3,733,000 after acquiring an additional 1,156 shares in the last quarter. Rhumbline Advisers increased its stake in RealReal by 1.3% during the 1st quarter. Rhumbline Advisers now owns 145,543 shares of the company’s stock worth $784,000 after buying an additional 1,800 shares during the period. Arizona State Retirement System boosted its position in RealReal by 9.6% in the 3rd quarter. Arizona State Retirement System now owns 28,446 shares of the company’s stock valued at $302,000 after buying an additional 2,496 shares during the period. Quarry LP acquired a new position in shares of RealReal in the third quarter worth $28,000. Finally, Larson Financial Group LLC acquired a new position in shares of RealReal in the third quarter worth $31,000. Hedge funds and other institutional investors own 64.73% of the company’s stock.

About RealReal

The RealReal, Inc (NASDAQ: REAL) operates an online marketplace specializing in the authenticated resale of luxury goods. Since its founding in 2011 by entrepreneur Julie Wainwright, the company has positioned itself as a leading platform for consignors and shoppers seeking designer fashion, fine jewelry, watches, art, and home décor. Headquartered in San Francisco, The RealReal combines e-commerce technology with an in-house team of experts to offer a seamless buying and selling experience for secondhand luxury items.

At the core of The RealReal’s business model is its consignment service, which enables individuals to sell pre-owned luxury products through a fully managed process.