RealReal (NASDAQ:REAL) stock is rising higher on Wednesday thanks to one analyst seeing the shares reach $30 in 2022.
Citron Research is responsible for the news pushing REAL stock higher today. It claimed that the company would reach $30 per share next year if it wasn’t acquired before that. For the record, a $30 price target for REAL represents a potential 102% upside for the shares.
It’s worth noting that analyst sentiment around REAL stock is already bullish. The consensus rating for the shares is buy, which comes from nine buy ratings and three hold ratings. On that same note, the consensus price target is $22.31 per share. While that’s below Citron Research’s $30 price target, it would still be a roughly 50% gain for the company’s stock.
Here’s what Citron Research had to say about RealReal stock today.
“$REAL will be $30 next 12 months if not acquired by Ebay first. Credit Card data for the month is on fire, no supply chains issues, on the right side of ESG and fashion. Luxury resale market globally is becoming a megatrend and $REAL is the clear leader.”
The callout from Citron Research has REAL stock seeing a decent amount of trading today. That includes more than 2 million shares changing hands as of this writing. That’s on its way to the company’s daily average trading volume of roughly 3.1 million shares.
REAL stock is up 5.4% as of Wednesday afternoon but is still down 25.1% since the start of the year.
Investors seeking out more stock market news today don’t have to head far.
InvestorPlace is home to all the latest stock market news that traders need to know about for Wednesday. A few examples include Benessere Capital Acquisition (NASDAQ:BENE) announcing a SPAC merger, Palatin Technologies (NYSEAMERICAN:PTN) getting a bullish price target, and Engine Gaming and Media (NASDAQ:GAME) stock jumping on earnings. You can get all of that news at the links below!
More Stock Market News for Wednesday
- BENE Stock: 9 Things to Know About DWAC Sister SPAC Benessere Capital
- PTN Stock Alert: Why One Analyst Sees 1,371% Upside for Palatin Technologies
- GAME Stock: 6 Reasons Why Engine Gaming and Media Investors Are Feeling Thankful Today
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.