Piper Sandler keeps an Overweight rating on Rent The Runway with a $6 price target after the company’s Q4 revenue beat expectations. Continued improvements in Rent the Runway’s execution are driving better results, the analyst tells investors in a research note. The firm is "particularly constructive" on the extra item launched on March 6 as it believes it will help improve customer retention because it offers more value. Rent The Runway’s guidance of active subscriber growth of 25%-plus seems reasonable and demonstrates a better balance between growth and cash burn, contends Piper.
Published first on TheFly
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