Read Why Jefferies Sees 10% Upside In This E-Commerce Company

Jefferies analyst Ashley Helgans initiated coverage of Poshmark Inc (NASDAQ:POSH) with a Hold rating and $14 price target, implying a 10.67% upside.
Ashley thinks the asset-light model, higher user engagement, and industry backdrop could turn out to be in its favor.
The analyst is doubtful about offsets from the IDFA (identifier for advertisers) impact, reliance on marketing to drive growth, and competition in the peer-to-peer resale space.
Headquartered in California, Poshmark is a social commerce marketplace where users can buy and sell new or used clothing, shoes, and accessories.
Price Action: POSH shares closed higher by 2.26% at $12.65 on Thursday.

To add Benzinga News as your preferred source on Google, click here.