RealReal (NASDAQ:REAL) Lifted to “Buy” at Zacks Investment Research

Zacks Investment Research upgraded shares of RealReal (NASDAQ:REAL) from a hold rating to a buy rating in a research report report published on Thursday, Zacks.com reports. The firm currently has $15.00 price target on the stock.

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 issued reports on REAL. Raymond James reduced their target price on shares of RealReal from $21.00 to $16.00 and set an outperform rating on the stock in a research report on Thursday, May 7th. BTIG Research started coverage on shares of RealReal in a report on Monday, June 8th. They issued a buy rating and a $18.00 price objective on the stock. Wells Fargo & Co increased their price objective on shares of RealReal from $18.00 to $20.00 and gave the company an overweight rating in a report on Friday, June 26th. Nomura increased their price objective on shares of RealReal from $14.00 to $17.00 and gave the company a buy rating in a report on Tuesday, June 9th. Finally, B. Riley increased their price objective on shares of RealReal from $7.00 to $13.00 and gave the company a hold rating in a report on Friday, July 10th. Six investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has an average rating of Buy and an average target price of $17.41.

Shares of REAL stock traded down $0.04 during trading hours on Thursday, reaching $13.64. 1,467,349 shares of the company were exchanged, compared to its average volume of 2,024,169. RealReal has a fifty-two week low of $5.00 and a fifty-two week high of $25.40. The stock’s fifty day moving average is $13.62 and its two-hundred day moving average is $12.70. The company has a market cap of $1.19 billion and a price-to-earnings ratio of -3.57.

RealReal (NASDAQ:REAL) last announced its earnings results on Wednesday, May 6th. The company reported ($0.39) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.46) by $0.07. RealReal had a negative net margin of 34.19% and a negative return on equity of 60.41%. The company had revenue of $78.20 million for the quarter, compared to analyst estimates of $78.36 million. During the same period in the prior year, the business earned ($2.80) earnings per share. RealReal’s quarterly revenue was up 10.8% on a year-over-year basis. As a group, sell-side analysts predict that RealReal will post -1.43 EPS for the current year.

In other news, Director Maha Saleh Ibrahim sold 125,399 shares of the stock in a transaction on Monday, May 11th. The shares were 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 available at this link. Also, COO Levesque Rati Sahi sold 33,384 shares of the stock in a transaction on Thursday, June 11th. The stock was sold at an average price of $12.57, for a total transaction of $419,636.88. Following the sale, the chief operating officer now directly owns 375,730 shares of the company’s stock, valued at approximately $4,722,926.10. The disclosure for this sale can be found here. Insiders sold 1,848,957 shares of company stock valued at $23,696,514 in the last ninety days. Insiders own 27.80% of the company’s stock.

Several hedge funds have recently modified their holdings of REAL. BlackRock Inc. increased its position in shares of RealReal by 108.1% during the first quarter. BlackRock Inc. now owns 3,325,816 shares of the company’s stock worth $23,313,000 after acquiring an additional 1,727,391 shares in the last quarter. Broad Peak Investment Holdings Ltd. bought a new position in RealReal in the first quarter valued at $11,874,000. JPMorgan Chase & Co. grew its position in RealReal by 132.0% in the first quarter. JPMorgan Chase & Co. now owns 2,124,811 shares of the company’s stock valued at $14,895,000 after purchasing an additional 1,208,825 shares in the last quarter. State Street Corp grew its position in RealReal by 178.4% in the first quarter. State Street Corp now owns 892,361 shares of the company’s stock valued at $6,255,000 after purchasing an additional 571,811 shares in the last quarter. Finally, UBS Group AG grew its position in RealReal by 114.8% in the fourth 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 in the last quarter. 71.02% of the stock is owned by institutional investors.

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