RealReal set for best day in 1-1/2 yrs after revenue tops estimates

Realreal

09/11/2021 17:57

** Shares of secondhand apparel retailer  REAL.O  jump as
much as 24.6% to hit a more than three-month high of $17.09,
after it beat Q3 revenue estimates 
    ** Stock last up 16.4% at $15.97, set for its best day since
April 2020 
    ** REAL reports Q3 revenue of $118.8 mln, above analysts'
estimates of $113.3 mln, boosted by demanded for secondhand
apparel from an increasing number of young eco-conscious
consumers  urn:newsml:reuters.com:*:nASA02RAD
    ** Rival ThredUp  TDUP.O  also beats Q3 revenue estimates;
raises FY revenue forecast  urn:newsml:reuters.com:*:nL4N2S02TQ
    ** TDUP had earlier risen as much as 23.3% but is now
marginally down 
    ** At least three brokerages raise their price targets on
REAL to $21; stock has an avg. "buy" rating on Wall Street with
a median PT of $21 - Refinitiv data 
    ** Rival resale platform Poshmark Inc  POSH.O , due to
report results later on Tuesday, up ~3%  urn:newsml:reuters.com:*:nL4N2RZ2G2
    ** REAL cuts YTD losses to 18.2%, while ThredUp has gained
~36% since its March IPO 

 (Reporting by Uday Sampath in Bengaluru)
 ((UdaySampath.Kumar@thomsonreuters.com; within U.S.+1 646 223
8780; Twitter: https://twitter.com/sampath_uday  ;))