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Benzinga
Benzinga
Business
Shivani Kumaresan

Why Are Rent The Runway Shares Trading Higher Today

RENT Ashley (Organization) Jefferies Nasdaq
  • Jefferies analyst Ashley Helgans initiated coverage of Rent The Runway Inc (NASDAQ: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.
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