- Jefferies analyst Ashley Helgans initiated coverage of Poshmark Inc (NASDAQ:POSH) with a Hold rating and $14 price target, implying a 10.67% upside.
- Ashley thinks the asset-light model, higher user engagement, and industry backdrop could turn out to be in its favor.
- The analyst is doubtful about offsets from the IDFA (identifier for advertisers) impact, reliance on marketing to drive growth, and competition in the peer-to-peer resale space.
- Headquartered in California, Poshmark is a social commerce marketplace where users can buy and sell new or used clothing, shoes, and accessories.
- Price Action: POSH shares closed higher by 2.26% at $12.65 on Thursday.
