Revolve Group (NYSE:RVLV) Shares Gap Up Following Strong Earnings

Revolve Group, Inc. (NYSE:RVLV)’s share price gapped up prior to trading on Wednesday after the company announced better than expected quarterly earnings. The stock had previously closed at $17.57, but opened at $20.99. Revolve Group shares last traded at $22.37, with a volume of 465,772 shares traded.

The company reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.09. The firm had revenue of $282.50 million during the quarter, compared to the consensus estimate of $277.06 million. Revolve Group had a return on equity of 6.30% and a net margin of 2.34%. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.10 earnings per share.

Analyst Ratings Changes

A number of research analysts have commented on RVLV shares. Robert W. Baird boosted their price objective on Revolve Group from $19.00 to $23.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 8th. Wedbush boosted their price objective on Revolve Group from $17.00 to $19.00 and gave the company a “neutral” rating in a report on Wednesday, May 8th. Evercore ISI boosted their price objective on Revolve Group from $17.00 to $20.00 and gave the company an “in-line” rating in a report on Monday, May 6th. UBS Group boosted their price objective on Revolve Group from $21.00 to $22.00 and gave the company a “neutral” rating in a report on Thursday, May 9th. Finally, Barclays lowered their target price on Revolve Group from $15.00 to $14.00 and set an “underweight” rating for the company in a report on Thursday, July 18th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, Revolve Group presently has an average rating of “Hold” and an average target price of $20.53.

Institutional Investors Weigh In On Revolve Group

A number of institutional investors and hedge funds have recently modified their holdings of RVLV. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of Revolve Group in the first quarter valued at $45,000. Assetmark Inc. lifted its holdings in shares of Revolve Group by 8.3% in the fourth quarter. Assetmark Inc. now owns 8,252 shares of the company’s stock valued at $137,000 after purchasing an additional 631 shares in the last quarter. Handelsbanken Fonder AB purchased a new stake in shares of Revolve Group in the fourth quarter valued at $179,000. Pier 88 Investment Partners LLC purchased a new stake in shares of Revolve Group in the second quarter valued at $182,000. Finally, SYSTM Wealth Solutions LLC purchased a new stake in shares of Revolve Group in the first quarter valued at $216,000. Institutional investors and hedge funds own 67.60% of the company’s stock.

Revolve Group Price Performance

The stock has a fifty day moving average price of $17.14 and a 200-day moving average price of $18.43. The company has a market cap of $1.58 billion, a PE ratio of 63.53, a price-to-earnings-growth ratio of 2.55 and a beta of 2.09.

Revolve Group Company Profile

Revolve Group, Inc operates as an online fashion retailer for millennial and generation z consumers in the United States and internationally. The company operates in two segments, REVOLVE and FWRD. It operates a platform that connects consumers and global fashion influencers, as well as emerging, established, and owned brands.