UPDATE: JMP Securities Starts Poshmark (POSH) at Market Outperform
- Wall Street slips off record highs, Tesla drops after fatal crash
- IBM (IBM) Tops Q1 EPS by 14c, Revenue Beats
- Tesla's (TSLA) Musk says data logs from crashed vehicle show Autopilot was not enabled, car did not purchase FSD
- Bitcoin (BTC) Price Fell 20% Off the Highs Over the Weekend as Markets Got 'Too Excited' About Coinbase (COIN), Says Mike Novogratz
- GameStop (GME) CEO Gets the Axe as Ryan Cohen Continues to Make His Mark, Analyst Says Co. Will Likely Look to Tech Sector for New Hires
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."
Shares of Poshmark closed at $69.21 yesterday.
You May Also Be Interested In
- UPDATE: Wells Fargo Starts Ballard Power Systems (BLDP) at Equal Weight
- Aisin Seiki Co Ltd. (7259:JP) (ASEKY) PT Raised to JPY5,000 at Morgan Stanley
- Vanguard International Semi (5347:TT) PT Lowered to TWD108 at Morgan Stanley
Create E-mail Alert Related CategoriesAnalyst Comments, New Coverage
Related EntitiesJMP Securities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!