Rent The Runway's Strong Unit Economics And Proprietary Data Advantage To Expand Margins: Analyst
Portfolio Pulse from Shivani Kumaresan
JMP Securities analyst Andrew Boone reiterated a Market Outperform rating on Rent the Runway Inc (NASDAQ:RENT) with a price target of $6. The company is focused on improving customer onboarding and inventory depth, and plans to introduce AI-powered search. RTR expects active subscriber growth to accelerate to +25% Y/Y by year end.
June 14, 2023 | 7:01 pm
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Rent the Runway (NASDAQ:RENT) receives a Market Outperform rating from JMP Securities analyst Andrew Boone with a price target of $6. The company is focused on improving customer onboarding, inventory depth, and plans to introduce AI-powered search.
The positive rating from JMP Securities analyst Andrew Boone, along with the company's focus on improving customer onboarding, inventory depth, and plans to introduce AI-powered search, are likely to have a positive short-term impact on RENT's stock price. The expected acceleration in active subscriber growth to +25% Y/Y by year end also supports this positive outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100