Analysts say there's plenty of upside for The RealReal, ThredUp and StichFix.
Bay Area consignors The RealReal and ThredUp and styling service Stitch Fix all saw their stock jump at least 16% on Tuesday following news that Redwood City-based PoshmarkAnalysts who follow the sector noted that Poshmark's acquisition price — about quadruple its projected gross profit for fiscal year 2022 — could lead to a stock price"floor" for competitors. Poshmark closed up 13% Tuesday to $17.71, near the $17.90 Naver agreed to pay.
"You look at the price Poshmark was able to get and the valuation that ThredUp and RealReal trade at in the public markets, and there's a very wide disparity there," Nikic said in an interview on Tuesday. Shares of RealReal and ThredUp, both struggling to chart a path to near-term profitability, are down more than 90% and 80%, respectively, since they went public in 2019 and 2021. Poshmark, too, was trading well below a 2021 IPO valuation that reached as high as $7.5 billion.
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