UPDATE: JMP Securities Starts Poshmark (POSH) at Market Outperform

JMP Securities analyst Ronald Josey initiates coverage on Poshmark (NASDAQ: POSH) with a Market Outperform rating and a price target of $85.00.

The analyst comments "We believe Poshmark’s social tools—whereby 87% of all items purchased were liked, commented, and shared prior to a sale—are what set it apart from other eCommerce marketplaces, creating (and really replacing) the traditional mall experience via a fun and vibrant buying and selling experience online. Add to that Poshmark’s revenue visibility and increasing predictability with 100% retention of initial buyer and seller GMV, the potential around newer products, services, and geographic expansion, and proven EBITDA profitability, we believe Poshmark is well positioned for continued growth and share gains going forward."

For an analyst ratings summary and ratings history on Poshmark click here. For more ratings news on Poshmark click here.

Shares of Poshmark closed at $69.21 yesterday.

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