Why Are Rent The Runway Shares Trading Higher Today

by Shivani Kumaresan, Benzinga Staff Writer

March 18, 2022 1:33 PM | 29 seconds read

Jefferies analyst Ashley Helgans initiated coverage of Rent The Runway Inc RENT with a Buy rating and $13 price target, implying an 81% upside.
Ashley listed low consumer penetration and post-COVID event backlog to support FY22 subscriber and revenue growth of over 40% and 50%, respectively.
Rent The Runway is an e-commerce platform that allows users to rent, subscribe, or buy designer apparel and accessories.
Price Action: RENT shares are trading higher by 27.2% at $7.20 on the last check Friday.