Revolve Group (NYSE:RVLV) Price Target Raised to $35.00

Revolve Group (NYSE:RVLV - Free Report) had its target price hoisted by Piper Sandler from $30.00 to $35.00 in a research note released on Wednesday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other research firms have also issued reports on RVLV. Morgan Stanley restated an "equal weight" rating and set a $26.00 price target (up from $17.00) on shares of Revolve Group in a research report on Monday, October 21st. Wedbush restated a "neutral" rating and set a $19.00 target price on shares of Revolve Group in a report on Wednesday, August 7th. Robert W. Baird raised their price objective on shares of Revolve Group from $24.00 to $33.00 and gave the stock a "neutral" rating in a report on Wednesday. Barclays upgraded Revolve Group from an "underweight" rating to an "equal weight" rating and increased their price objective for the stock from $17.00 to $25.00 in a report on Wednesday. Finally, UBS Group boosted their price objective on shares of Revolve Group from $21.00 to $25.00 and gave the stock a "neutral" rating in a research note on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $26.19.

Revolve Group Trading Up 27.9 %

Shares of Revolve Group stock traded up $7.26 on Wednesday, hitting $33.28. 3,942,031 shares of the company traded hands, compared to its average volume of 1,010,835. The firm's 50-day simple moving average is $24.47 and its 200 day simple moving average is $21.01. Revolve Group has a 12-month low of $12.63 and a 12-month high of $33.82. The company has a market cap of $2.35 billion, a P/E ratio of 72.04, a P/E/G ratio of 2.43 and a beta of 2.05.

Revolve Group (NYSE:RVLV - Get Free Report) last released its earnings results on Tuesday, November 5th. The company reported $0.15 earnings per share for the quarter, topping analysts' consensus estimates of $0.09 by $0.06. The company had revenue of $283.15 million during the quarter, compared to the consensus estimate of $271.08 million. Revolve Group had a return on equity of 8.35% and a net margin of 3.08%. During the same quarter in the previous year, the company posted $0.04 EPS. Revolve Group's quarterly revenue was up 9.9% compared to the same quarter last year. Analysts predict that Revolve Group will post 0.56 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Mmmk Development, Inc. sold 33,164 shares of Revolve Group stock in a transaction on Wednesday, October 16th. The stock was sold at an average price of $26.26, for a total value of $870,886.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, major shareholder Mmmk Development, Inc. sold 33,164 shares of the business's stock in a transaction that occurred on Wednesday, October 16th. The shares were sold at an average price of $26.26, for a total transaction of $870,886.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael Mente sold 48,346 shares of Revolve Group stock in a transaction on Thursday, October 17th. The shares were sold at an average price of $26.32, for a total value of $1,272,466.72. Following the transaction, the chief executive officer now owns 73,000 shares in the company, valued at $1,921,360. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 124,573 shares of company stock valued at $3,260,634. Company insiders own 46.56% of the company's stock.

Institutional Investors Weigh In On Revolve Group

A number of institutional investors have recently bought and sold shares of RVLV. Westfield Capital Management Co. LP bought a new position in shares of Revolve Group during the 1st quarter valued at approximately $33,735,000. Dimensional Fund Advisors LP lifted its holdings in Revolve Group by 22.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 683,101 shares of the company's stock valued at $10,867,000 after buying an additional 123,745 shares in the last quarter. Marshall Wace LLP boosted its holdings in shares of Revolve Group by 141.2% in the second quarter. Marshall Wace LLP now owns 478,623 shares of the company's stock valued at $7,615,000 after purchasing an additional 280,151 shares during the period. Silvercrest Asset Management Group LLC grew its position in shares of Revolve Group by 55.7% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 376,620 shares of the company's stock worth $7,973,000 after buying an additional 134,775 shares in the last quarter. Finally, Millennium Management LLC increased its position in Revolve Group by 68.1% during the 2nd quarter. Millennium Management LLC now owns 342,084 shares of the company's stock valued at $5,443,000 after purchasing an additional 138,600 shares during the period. Hedge funds and other institutional investors own 67.60% of the company's stock.

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.