Needham & Company LLC reaffirms “Buy” rating for RealReal (NASDAQ:REAL)

RealReal (NASDAQ: REAL – Get a rating)The stock saw its “buy” rating reissued by analysts at Needham & Company LLC in a report released on Tuesday, TipRanks reports. They currently have a price target of $10.00 on the stock. Needham & Company LLC’s target price indicates a potential upside of 170.27% from the stock’s previous close.

Several other equity research analysts have also recently published reports on REAL. Morgan Stanley lowered its price target on shares of RealReal from $18.00 to $17.00 and set an “equal weight” rating on the stock in a Thursday, February 24 research report. Raymond James lowered his price target on RealReal from $19.00 to $18.00 and set an “outperform” rating for the company in a Thursday, February 24 report. Wedbush lowered its price target on RealReal shares from $21.00 to $14.00 and set an “outperform” rating for the company in a Thursday, Feb. 24 research note. UBS Group lowered its price target on RealReal from $17.00 to $9.00 and set a “neutral” rating on the stock in a Tuesday, March 22 report. Finally, KeyCorp cut its price target on RealReal shares from $20.00 to $16.00 and set an “overweight” rating on the stock in a Thursday, January 20 research report. One financial analyst assigned the stock a sell rating, four issued a hold rating and eleven issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $14.65.

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RealReal stock traded down $0.04 in Tuesday’s midday session, hitting $3.70. The company’s stock had a trading volume of 165,636 shares, compared to an average volume of 4,311,302. The stock’s 50-day simple moving average is $6.53 and its 200-day simple moving average is 9 $.69. The company has a debt ratio of 4.76, a quick ratio of 2.17 and a current ratio of 2.58. The company has a market capitalization of $349.17 million, a PE ratio of -1.44 and a beta of 2.45. RealReal has a fifty-two week low of $2.77 and a fifty-two week high of $22.83.

RealReal (NASDAQ: REAL – Get a rating) last released its results on Tuesday, May 10. The company reported ($0.47) earnings per share (EPS) for the quarter, beating analyst consensus estimates of ($0.64) by $0.17. The company posted revenue of $146.70 million in the quarter, compared to $136.35 million expected by analysts. RealReal had a negative net margin of 46.07% and a negative return on equity of 331.27%. The company’s quarterly revenue increased by 48.5% compared to the same quarter last year. During the same period last year, the company posted ($0.62) earnings per share. Equity analysts expect RealReal to post -2.04 earnings per share for the current year.

In related news, the President Levesque Rati Sahi sold 8,888 shares of the company in a transaction that took place on Sunday, February 20. The shares were sold at an average price of $7.57, for a total transaction of $67,282.16. The transaction was disclosed in an SEC filing, available at this link. Also, insider Arnon Katz sold 34,543 shares of the company in a transaction that took place on Wednesday, February 23. The stock was sold at an average price of $7.65, for a total value of $264,253.95. Disclosure of this sale can be found here. In the past 90 days, insiders have sold 104,250 shares of the company worth $782,541. Insiders of the company own 27.80% of the shares of the company.

Institutional investors have recently changed their stake in the company. Geode Capital Management LLC increased its position in RealReal by 11.9% in the third quarter. Geode Capital Management LLC now owns 1,343,645 shares of the company worth $17,709,000 after purchasing an additional 143,385 shares in the last quarter. Teacher Retirement System of Texas acquired a new position in RealReal during the third quarter worth $161,000. Voloridge Investment Management LLC increased its equity stake in RealReal by 46.6% in Q3. Voloridge Investment Management LLC now owns 778,856 shares of the company valued at $10,265,000 after purchasing an additional 247,482 shares last quarter. Primoris Wealth Advisors LLC acquired a new equity stake in RealReal during Q4 valued at approximately $971,000. Finally, FIL Ltd increased its stake in RealReal by 296.3% during the 3rd quarter. FIL Ltd now owns 402,042 shares of the company valued at $5,299,000 after purchasing an additional 300,590 shares in the last quarter. Institutional investors and hedge funds hold 89.19% of the company’s shares.

About RealReal (Get a rating)

The RealReal, Inc operates an online marketplace for returnable luxury goods in the United States. It offers various product categories, including women’s, men’s, children’s, jewelry and watches, as well as home and art products. The company was incorporated in 2011 and is headquartered in San Francisco, California.

See also

Analyst Recommendations for RealReal (NASDAQ: REAL)

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