Ranpak Holdings

PACK · NYSE

$3.39−$0.03 (−0.88%)TodayMarket closed · Oct 20, 7:00 PM ET

Prev close $3.42

PACK analyst rating

BuyConsensus of 1 analyst over the last 12 months. 100% rate it a buy.

Strong buy0
Buy1
Hold0
Underperform0
Sell0

12-month price target · 5 analysts

Average $7.22 (+113.1% upside)

Low: $6.06
Now: $3.39
High: $8.40

Upgrades and downgrades

The latest rating actions, newest first

PACK analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Craig-Hallum	Mar 6, 2026	Maintains	Buy	$10.00 → $8.00	50%

The case for and against

Updated Oct 23, 2025

Bull case

Ranpak Holdings Corp reported a year-over-year net revenue increase of 6.9%, which improved to 8.8% when adjusted for constant currency, reflecting the company's strong market presence and adaptation to industry trends. The stabilization of activity in Europe and Asia Pacific, alongside slight year-over-year growth in automation sales, indicates a recovering demand environment for its protective packaging solutions. This positive outlook is further bolstered by the ongoing shift from plastic to paper among large enterprise customers in North America, highlighting Ranpak's alignment with sustainable practices in response to market demands.

Bear case

Ranpak Holdings Corp reported a disappointing net income of ($10.9) million, which fell short of both Cantor's estimate and consensus expectations. The company's constant currency adjusted EBITDA amounted to $17.3 million, representing a 19.0% margin, and reflected an 8% year-over-year decline, further impacted by a non-cash headwind from Amazon warrants. Additionally, guidance indicates a projected non-cash reduction in net revenue and adjusted EBITDA by $3 million to $5 million due to the recognition of warrant expense linked to Amazon revenue, suggesting ongoing financial challenges for the company.

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