RealReal’s (REAL) “Buy” Rating Reiterated at BTIG Research

BTIG Research reiterated their buy rating on shares of RealReal (NASDAQ:REAL) in a report released on Thursday morning,Benzinga reports. BTIG Research currently has a $17.00 price objective on the stock.

Other research analysts have also issued reports about the company. UBS Group lifted their target price on RealReal from $14.00 to $16.00 and gave the stock a “neutral” rating in a report on Friday, August 7th. Weiss Ratings restated a “sell (d-)” rating on shares of RealReal in a research report on Friday, July 17th. Finally, Roth Capital reaffirmed a “buy” rating and issued a $19.00 price objective on shares of RealReal in a research note on Friday, August 7th. Six analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $17.75.

RealReal Price Performance

NASDAQ REAL opened at $9.45 on Thursday. RealReal has a 12 month low of $8.05 and a 12 month high of $17.39. The firm has a market capitalization of $1.15 billion, a PE ratio of -8.44 and a beta of 2.71. The company’s 50 day simple moving average is $11.01 and its 200 day simple moving average is $10.67.

RealReal (NASDAQ:REAL) last released its earnings results on Thursday, August 6th. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.01. The firm had revenue of $192.57 million during the quarter, compared to analyst estimates of $188.11 million. The business’s revenue for the quarter was up 16.6% compared to the same quarter last year. Sell-side analysts anticipate that RealReal will post -0.13 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Todd A. Suko sold 17,567 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $10.97, for a total value of $192,709.99. Following the completion of the sale, the insider owned 587,897 shares in the company, valued at $6,449,230.09. This represents a 2.90% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Luke Friang sold 22,028 shares of the firm’s stock in a transaction on Friday, August 21st. The stock was sold at an average price of $10.98, for a total value of $241,867.44. Following the completion of the sale, the insider directly owned 508,648 shares of the company’s stock, valued at approximately $5,584,955.04. This trade represents a 4.15% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 173,004 shares of company stock valued at $1,899,283 over the last 90 days. 2.66% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On RealReal

Several hedge funds have recently bought and sold shares of the business. BlackRock Inc. acquired a new stake in RealReal during the 2nd quarter worth about $134,510,000. AWM Investment Company Inc. acquired a new position in shares of RealReal in the 2nd quarter valued at about $21,265,000. Arrowstreet Capital Limited Partnership lifted its position in shares of RealReal by 58.2% in the first quarter. Arrowstreet Capital Limited Partnership now owns 4,049,042 shares of the company’s stock worth $36,765,000 after purchasing an additional 1,489,939 shares in the last quarter. Bank of America Corp DE purchased a new stake in shares of RealReal in the second quarter worth approximately $12,655,000. Finally, Renaissance Technologies LLC boosted its holdings in shares of RealReal by 117.9% during the first quarter. Renaissance Technologies LLC now owns 1,646,200 shares of the company’s stock worth $14,947,000 after purchasing an additional 890,700 shares during the period. 64.73% of the stock is owned by hedge funds and other institutional investors.

RealReal Company Profile

The RealReal, Inc (NASDAQ: REAL) operates an online and brick-and-mortar marketplace for authenticated, pre-owned luxury goods. The company connects individuals and businesses seeking to sell luxury items with consumers looking to purchase them, handling consignment, authentication, merchandising, and fulfillment.

Its marketplace offers products across categories including women’s and men’s fashion, handbags, shoes, jewelry, watches, fine art, and home goods. The RealReal sells through its website and mobile applications, as well as through physical retail locations and other selling channels.