The RealRealREAL
Market Cap: $247M
About: The RealReal is the largest pure-play luxury resale platform in the us, generating $1.7 billion in 2023 gross merchandise volume and addressing a niche (personal luxury resale) that had previously been serviced by inefficient upscale boutiques and local pawn shops. The company generates revenue via consignment and first-party sales on its online marketplace, and through a small volume of direct sales. With a hands-on approach that actively sources inventory and authenticates every item on its platform, The RealReal is able to justify much higher take rates than peers, working out to roughly 34% of net merchandise value, which excludes returns, cancellations, and first-party sales.
Employees: 3,032
Fund manager confidence
Based on 2024 Q2 SEC filings by fund managers ($100M+ AUM)
873% more call options, than puts
Call options by funds: $22.8M | Put options by funds: $2.35M
1% more funds holding
Funds holding: 151 [Q1] → 153 (+2) [Q2]
6% more first-time investments, than exits
New positions opened: 35 | Existing positions closed: 33
0.24% more ownership
Funds ownership: 65.49% [Q1] → 65.73% (+0.24%) [Q2]
7% less repeat investments, than reductions
Existing positions increased: 43 | Existing positions reduced: 46
16% less capital invested
Capital invested by funds: $266M [Q1] → $222M (-$43.5M) [Q2]
25% less funds holding in top 10
Funds holding in top 10: 4 [Q1] → 3 (-1) [Q2]
Research analyst outlook
2 Wall Street Analysts provided 1 year price targets over the past 3 months
2 analyst ratings
Baird Mark Altschwager 43% 1-year accuracy 12 / 28 met price target | 54%upside $3.50 | Neutral Maintained | 7 Aug 2024 |
Wedbush Tom Nikic 55% 1-year accuracy 23 / 42 met price target | 75%upside $4 | Outperform Maintained | 7 Aug 2024 |
Financial journalist opinion
Based on 4 articles about REAL published over the past 30 days