BTIG raised the firm’s price target on RealReal (REAL) to $9 from $6.75 and keeps a Buy rating on the shares. The company’s better than expected Gross Merchandise Value pre-announcement outlook underpins the management’s “solid” 2025 guidance and represents the “more important” metric, the analyst tells investors in a research note. BTIG adds that it sees upside to FY25 EBITDA guidance as the outlook implies a 30% EBITDA flow-through rate, but the company is capable of achieving incremental margins of 40% or better given its cost structure is roughly 50/50 fixed vs. variable.
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Read More on REAL:
- RealReal’s Resurgence: Strong Growth, Surpassing Earnings, and Strategic Optimism Drive ‘Buy’ Rating
- Positive Outlook for RealReal: Strong Financial Performance and Strategic Debt Management Drive Buy Rating
- RealReal Finalizes Debt Exchange Agreement for 2025
- RealReal sees Q1 revenue $157M-$161M, consensus $162.19M
- RealReal sees FY25 revenue $645M-$660M, consensus $665.4M
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