RealReal (NASDAQ:REAL) Upgraded at Zacks Investment Research
RealReal (NASDAQ:REAL) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Thursday, Zacks.com reports. The firm presently has a $15.00 price objective on the stock. Zacks Investment Research‘s price target indicates a potential upside of 9.97% from the company’s current price.
According to Zacks, “The RealReal Inc. operates an online marketplace for consigned luxury goods. It offers resale product categories, including women’s, men’s, kids’, jewelry and watches, as well as home and art products. The RealReal Inc. is based in San Francisco, California. “
A number of other equities analysts have also commented on the company. UBS Group cut their price objective on RealReal from $26.00 to $17.00 and set a “buy” rating on the stock in a research note on Tuesday, April 21st. Credit Suisse Group lifted their price objective on RealReal from $13.00 to $14.00 and gave the stock an “outperform” rating in a research note on Thursday, May 7th. Raymond James cut their price objective on RealReal from $21.00 to $16.00 and set an “outperform” rating on the stock in a research note on Thursday, May 7th. B. Riley boosted their price target on RealReal from $7.00 to $13.00 and gave the company a “hold” rating in a research note on Friday, July 10th. Finally, Nomura Instinet boosted their price target on RealReal from $14.00 to $17.00 and gave the company a “buy” rating in a research note on Tuesday, June 9th. Six investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $17.41.
RealReal (NASDAQ:REAL) last released its earnings results on Wednesday, May 6th. The company reported ($0.39) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.46) by $0.07. The firm had revenue of $78.20 million for the quarter, compared to analysts’ expectations of $78.36 million. RealReal had a negative return on equity of 60.41% and a negative net margin of 34.19%. The business’s revenue for the quarter was up 10.8% on a year-over-year basis. During the same quarter in the previous year, the business posted ($2.80) earnings per share. Research analysts anticipate that RealReal will post -1.43 EPS for the current fiscal year.
In related news, Director Maha Saleh Ibrahim sold 125,399 shares of the company’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $13.16, for a total transaction of $1,650,250.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Fredrik Bjork sold 25,113 shares of the company’s stock in a transaction on Wednesday, May 27th. The stock was sold at an average price of $13.12, for a total value of $329,482.56. Following the sale, the chief technology officer now owns 235,913 shares of the company’s stock, valued at approximately $3,095,178.56. The disclosure for this sale can be found here. Insiders have sold 1,848,957 shares of company stock valued at $23,696,514 in the last quarter. 27.80% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently made changes to their positions in REAL. Victory Capital Management Inc. grew its holdings in RealReal by 141.7% during the fourth quarter. Victory Capital Management Inc. now owns 6,466 shares of the company’s stock worth $122,000 after buying an additional 3,791 shares in the last quarter. Great West Life Assurance Co. Can bought a new position in RealReal in the 4th quarter valued at $27,000. UBS Group AG grew its stake in RealReal by 114.8% in the 4th quarter. UBS Group AG now owns 66,673 shares of the company’s stock valued at $1,257,000 after purchasing an additional 518,106 shares during the period. Bank of New York Mellon Corp grew its stake in RealReal by 48.0% in the 4th quarter. Bank of New York Mellon Corp now owns 77,429 shares of the company’s stock valued at $1,460,000 after purchasing an additional 25,129 shares during the period. Finally, Janus Henderson Group PLC grew its stake in RealReal by 44.8% in the 4th quarter. Janus Henderson Group PLC now owns 618,947 shares of the company’s stock valued at $11,667,000 after purchasing an additional 191,554 shares during the period. Institutional investors and hedge funds own 71.02% of the company’s stock.
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