RealReal climbs on smaller-than-expected Q3 loss

Realreal

09/11/2022 13:57

** Shares of online luxury goods marketplace RealReal Inc
 REAL.O  up 2.9% premarket at $1.26 after reporting
smaller-than-expected Q3 loss
    ** Co's Q3 loss narrows to 38 cents/shr, smaller than the
loss of 42 cents/shr analysts expected, per Refinitiv IBES data
    ** Co credits performance to strong trends in new buyers,
and robust demand for ready-to-wear, handbags, men's, and
branded fine jewelry
    ** Brokerage Raymond James cuts stock to "market perform"
from "outperform", as it sees co's plans to change its
consignment model adding uncertainty on buyer and seller growth
over the next few quarters
    ** Jefferies cuts PT to $9 from $11, expecting macro
headwinds to squeeze co's profitability
    ** Seven of 14 brokerages rate the stock "buy" or higher,
six "hold" and one "sell"; their median PT is $3.88 - Refinitiv
    ** Up to Tuesday's close, stock had fallen 89% YTD, compared
with a 31.2% decline in the Nasdaq Industrial index  .IXID 
 (Reporting by Johann M Cherian in Bengaluru)
 ((johann.mcherian@thomsonreuters.com;))