UPDATE: Cowen Starts Poshmark (POSH) at Outperform
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Cowen analyst Oliver Chen initiates coverage on Poshmark (NASDAQ: POSH) with an Outperform rating and a price target of $88.00.
The analyst commented, "POSH’s intersection between re-commerce, social media, and digital marketplace models underpins the platform’s high engagement, sticky community, and customer retention that collectively drive a competitive and data advantage. A strong flywheel model drives a +20-30% top line and +40-50% bottom line growth algorithm, in Cowen's view."
Shares of Poshmark closed at $69.21 yesterday.
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