RealReal (NASDAQ:REAL) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of RealReal (NASDAQ:REAL) from a hold rating to a buy rating in a research report sent to investors on Saturday morning,Wall Street Zen reports.

Other analysts have also recently issued research reports about the company. UBS Group cut their target price on RealReal from $16.00 to $14.00 and set a “neutral” rating for the company in a research report on Thursday, October 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of RealReal in a report on Thursday, October 15th. BTIG Research restated a “buy” rating and issued a $17.00 price target on shares of RealReal in a research note on Thursday, September 17th. Finally, Roth Capital restated a “buy” rating and issued a $19.00 price target on shares of RealReal in a research note on Friday, October 16th. Six analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.50.

RealReal Stock Performance

NASDAQ:REAL opened at $13.02 on Friday. The business has a fifty day moving average price of $10.04 and a 200-day moving average price of $11.03. RealReal has a one year low of $8.05 and a one year high of $17.39.

RealReal (NASDAQ:REAL) last posted its quarterly earnings data on Thursday, October 29th. The company reported $0.02 EPS for the quarter. The company had revenue of $206.12 million during the quarter, compared to the consensus estimate of $196.89 million. During the same period last year, the business earned ($0.09) EPS. The firm’s quarterly revenue was up 18.7% compared to the same quarter last year. Equities research analysts anticipate that RealReal will post -0.11 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Gopal Madan sold 36,418 shares of the firm’s stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $10.98, for a total transaction of $399,869.64. Following the completion of the transaction, the chief financial officer owned 1,108,860 shares in the company, valued at $12,175,282.80. This trade represents a 3.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Levesque Sahi sold 84,432 shares of the firm’s stock in a transaction dated Friday, August 21st. The shares were sold at an average price of $10.98, for a total value of $927,063.36. Following the transaction, the chief executive officer owned 1,496,844 shares of the company’s stock, valued at approximately $16,435,347.12. The trade was a 5.34% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 173,004 shares of company stock worth $1,899,283. 2.66% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On RealReal

Hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp purchased a new position in shares of RealReal in the 2nd quarter worth $4,524,000. Bank of America Corp DE bought a new stake in shares of RealReal in the 2nd quarter worth about $12,655,000. Angeles Wealth Management LLC bought a new stake in shares of RealReal in the 2nd quarter worth about $1,290,000. Fifth Third Bancorp purchased a new stake in shares of RealReal during the 1st quarter valued at about $2,270,000. Finally, Manatuck Hill Partners LLC purchased a new stake in shares of RealReal during the 2nd quarter valued at about $1,565,000. 64.73% of the stock is currently owned by hedge funds and other institutional investors.

About RealReal

The RealReal, Inc operates an online and physical marketplace for authenticated, pre-owned luxury goods. Through its platform, the company enables individuals and businesses to consign and purchase items across categories such as apparel, handbags, shoes, jewelry, watches, fine art, and home furnishings.

The company combines consignment services with in-house authentication, merchandising, photography, fulfillment, and customer support. Its authentication process is designed to assess the legitimacy and condition of products before they are offered for sale, helping connect sellers with buyers seeking luxury items through the resale market.

Founded in 2011 by Julie Wainwright, The RealReal serves customers primarily in the United States through its website, mobile applications, and retail locations.