The RealReal Inc. (REAL) CEO Summit Takeaways

Cowen analyst Oliver Chen reiterated an Outperform rating and $29.00 price target on The RealReal Inc. (NASDAQ: REAL) after hosting Matt Gustke, REAL's CFO, at Cowen's New Retail Ecosystem CEO Summit. Key takeaways include:
1) 2Q21 GMV guide is likely to be conservative and QTD trends are tracking above 1Q21 GMV growth of +46% vs. a 2019 base
2) REAL could attain $100 gross profit per order by "the end of FY21" vs. the previously communicated timeline of "the end of FY22"
3) REAL is seeing record high average order values
4) supply growth is bouncing back with both NYC/LA posting positive growth
5) women's apparel is bouncing back, which should help drive higher units per transaction

The analyst stated "Encouraging commentary on QTD trends and supply growth from management gives us higher confidence. REAL also now believes it can reach the $100 gross profit per order level by the end of FY21 vs. the previously expected timeline of FY22, and 2Q21 TD AOVs are at a record high level. We continue to see REAL as a differentiated resale luxury player".

For an analyst ratings summary and ratings history on The RealReal Inc. click here. For more ratings news on The RealReal Inc. click here.

Shares of The RealReal Inc. closed at $17.53 yesterday.

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