RealReal price target lowered to $4 from $4.50 at Wedbush

Wedbush analyst Tom Nikic lowered the firm’s price target on RealReal to $4 from $4.50 and keeps an Outperform rating on the shares. While the market might focus on RealReal’s reduction to gross merchandise volume guidance for the year, the firm is encouraged by profitability trends, with the company continuing to be on pace for positive adjusted EBITDA. On slightly lower sales, Wedbush trims its price target, but continues to believe that there’s an opportunity for the stock to re-rate meaningfully higher if they can prove to the market that they can operate profitably.