RealReal Inc REAL:NASDAQ

Last Price$2.49NASDAQ Closing Price as of 4:00PM ET 6/30/22

Today's Change-0.12(4.60%)
Bid (Size)$2.44 (1)
Ask (Size)$2.53 (5)
Day Low / High$2.43 - 2.68
Volume5.5 M

RealReal Shares Drop As Analysts Cut Price Targets Following Q1 Results

1:49PM ET 5/11/2022 MT Newswires
Shares of RealReal (REAL) dropped Wednesday afternoon after several analysts cut their price targets following its Q1 results.

The stock was down over 17%, with more than 4.8 million shares changing hands against a daily average of about 3.5 million.

"While Q1 got off to a soft start due to COVID staffing issues at their warehouses, the quarter overall was solid, with most KPIs in positive territory," Wedbush analysts Tom Nikic and Ezra Weener said in a note.

Still, the analysts lowered their price target to $10 from $14 while keeping their outperform rating to reflect the reduced valuations market-wide.

Raymond James cut its price target to $14 from $18 while retaining its outperform rating. Needham also lowered its price objective to $10 from $25 while keeping its buy call.

Late Tuesday, RealReal reported a Q1 non-GAAP net loss of $0.47 per share on revenue of $146.7 million. Analysts polled by Capital IQ expected a loss of $0.52 per share on revenue of $136.4 million.

The company said it continues to expect fiscal 2022 revenue of $635 million to $665 million. Analysts surveyed by Capital IQ expect $649.6 million. Revenue for Q2 is expected to range between $150 million and $160 million. Analysts polled by Capital IQ expect $152.2 million.

Price: 3.64, Change: -0.77, Percent Change: -17.46