The RealRealREAL
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 Q3 regulatory filings by fund managers ($100M+ AUM)
1,352% more call options, than puts
Call options by funds: $23M | Put options by funds: $1.58M
14% more repeat investments, than reductions
Existing positions increased: 49 | Existing positions reduced: 43
4% more first-time investments, than exits
New positions opened: 29 | Existing positions closed: 28
1% more funds holding
Funds holding: 153 [Q2] → 154 (+1) [Q3]
0% more funds holding in top 10
Funds holding in top 10: 3 [Q2] → 3 (+0) [Q3]
2% less capital invested
Capital invested by funds: $232M [Q2] → $229M (-$3.84M) [Q3]
1.66% less ownership
Funds ownership: 68.77% [Q2] → 67.11% (-1.66%) [Q3]
Research analyst outlook
3 Wall Street Analysts provided 1 year price targets over the past 3 months
3 analyst ratings
Northland Capital Markets Robert Brooks 50% 1-year accuracy 1 / 2 met price target | 33%upside $12.50 | Outperform Maintained | 17 Dec 2024 |
Wells Fargo Ike Boruchow 62% 1-year accuracy 28 / 45 met price target | 60%upside $15 | Overweight Upgraded | 9 Dec 2024 |
UBS Kunal Madhukar 67% 1-year accuracy 2 / 3 met price target | 65%downside $3.25 | Neutral Maintained | 5 Nov 2024 |
Financial journalist opinion
Based on 6 articles about REAL published over the past 30 days
