RealReal (NASDAQ:REAL) Upgraded by Wall Street Zen to “Buy” Rating

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 Sunday morning.

Several other brokerages have also recently issued reports on REAL. Robert W. Baird set a $15.00 price target on RealReal in a research report on Wednesday, December 17th. Weiss Ratings reissued a “sell (d-)” rating on shares of RealReal in a report on Wednesday, October 8th. Wells Fargo & Company upped their price target on RealReal from $15.00 to $20.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 16th. B. Riley increased their price target on RealReal from $14.00 to $17.00 and gave the stock a “buy” rating in a report on Friday, December 12th. Finally, Northland Securities set a $20.00 price objective on shares of RealReal in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.44.

RealReal Stock Up 1.7%

Shares of NASDAQ REAL opened at $16.59 on Friday. RealReal has a 52-week low of $4.61 and a 52-week high of $17.25. The business’s 50 day moving average is $14.98 and its two-hundred day moving average is $10.83. The firm has a market cap of $1.94 billion, a price-to-earnings ratio of -12.02 and a beta of 2.60.

RealReal (NASDAQ:REAL) last released its earnings results on Monday, November 10th. The company reported ($0.49) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.35). The company had revenue of $173.57 million for the quarter, compared to analysts’ expectations of $169.01 million. Analysts anticipate that RealReal will post -0.4 EPS for the current fiscal year.

Insider Transactions at RealReal

In other news, CAO Steve Ming Lo sold 59,789 shares of the firm’s stock in a transaction that occurred on Tuesday, November 25th. The shares were sold at an average price of $14.46, for a total transaction of $864,548.94. Following the completion of the sale, the chief accounting officer owned 249,553 shares of the company’s stock, valued at approximately $3,608,536.38. This trade represents a 19.33% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Gopal Ajay Madan sold 28,520 shares of the business’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $14.73, for a total value of $420,099.60. Following the completion of the sale, the chief financial officer directly owned 1,156,092 shares of the company’s stock, valued at approximately $17,029,235.16. This represents a 2.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 15,823,249 shares of company stock worth $209,258,341 in the last quarter. 9.00% of the stock is owned by corporate insiders.

Institutional Trading of RealReal

Several hedge funds have recently bought and sold shares of REAL. Comerica Bank increased its position in shares of RealReal by 0.3% during the 3rd quarter. Comerica Bank now owns 351,156 shares of the company’s stock valued at $3,733,000 after purchasing an additional 1,156 shares during the period. Rhumbline Advisers boosted its stake in RealReal by 1.3% during the first quarter. Rhumbline Advisers now owns 145,543 shares of the company’s stock valued at $784,000 after buying an additional 1,800 shares in the last quarter. Arizona State Retirement System grew its holdings in RealReal by 9.6% during the third quarter. Arizona State Retirement System now owns 28,446 shares of the company’s stock worth $302,000 after acquiring an additional 2,496 shares during the period. Quarry LP bought a new stake in RealReal in the third quarter worth about $28,000. Finally, Larson Financial Group LLC acquired a new stake in RealReal in the 3rd quarter valued at about $31,000. 64.73% of the stock is currently owned by institutional investors.

About RealReal

The RealReal, Inc (NASDAQ: REAL) operates an online marketplace specializing in the authenticated resale of luxury goods. Since its founding in 2011 by entrepreneur Julie Wainwright, the company has positioned itself as a leading platform for consignors and shoppers seeking designer fashion, fine jewelry, watches, art, and home décor. Headquartered in San Francisco, The RealReal combines e-commerce technology with an in-house team of experts to offer a seamless buying and selling experience for secondhand luxury items.

At the core of The RealReal’s business model is its consignment service, which enables individuals to sell pre-owned luxury products through a fully managed process.