Rent The Runway shares are trading lower after the company reported Q1 financial results. Raymond James maintained an Outperform rating on the stock and lowered its price target from $8 to $5.
Portfolio Pulse from Benzinga Newsdesk
Rent The Runway shares dropped following Q1 financial results. Raymond James maintained an Outperform rating but lowered its price target from $8 to $5.

June 08, 2023 | 5:53 pm
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NEGATIVE IMPACT
Rent The Runway's stock price is negatively impacted by Q1 financial results and Raymond James lowering its price target from $8 to $5.
Rent The Runway's stock price is likely to be negatively impacted in the short term due to the company's Q1 financial results and Raymond James lowering its price target. The lowered price target indicates that the analyst has reduced expectations for the stock's performance, which may lead to a decrease in investor confidence and a drop in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100