RENT - Rent the Runway is defended by analysts after earnings sell-off

Rent the Runway (NASDAQ:RENT) is down sharply after posting its first earnings report as a public company. Several analysts are out with strong defenses of the upside for RENT. Wells Fargo analyst Ike Boruchow and team think RENT is clearly being viewed by investors as a show-me story in regard to the ability of the retailer achieve scale. "That said, in their first earnings as a public company, RENT delivered a solid 3Q21 print—beating revenue and margin expectations nicely, while guiding above the Street for 4Q. Importantly, we expect the outlook is achievable if not conservative, particularly on the active subscriber front." Overall, Boruchow and team say they walked away from RENT's initial EPS release thinking the model demonstrated enough progress for the skeptics. Wells Fargo keeps an Overweight rating and price target of $22 Barclays also stands firm with an Overweight rating on RENT as it points to the

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Rent the Runway is defended by analysts after earnings sell-off