Wolfe Research analyst Greg Badishkanian initiated coverage of Rent The Runway with a Peer Perform rating and no price target. Consumer adoption of second-hand clothing is increasing and clothing rental is an "important emerging distribution channel for high-end brands," Badishkanian tells investors in a research note. However, the analyst has concerns over a "pattern of volatile customer churn" at Rent The Runway.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
Published first on TheFly
See today’s best-performing stocks on TipRanks >>
Read More on RENT:
- These 4 Stocks Tick the Right Boxes on Analysts’ Checklists
- Rent the Runway (NASDAQ:RENT) Stock Jumps on Upbeat Guidance
- Rent The Runway price target lowered to $3 from $6 at Barclays
- Rent The Runway raises FY22 revenue view to $293M-$295M from $285M-$290M
- Rent The Runway sees Q4 revenue $72M-$74M, consensus $71.66M