Revolve Group (NYSE:RVLV) Shares Up 7.4% – Here’s What Happened

Revolve Group, Inc. (NYSE:RVLV)’s stock price rose 7.4% during mid-day trading on Thursday. The stock traded as high as $23.13 and last traded at $23.1950. 196,048 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 991,858 shares. The stock had previously closed at $21.60.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on RVLV shares. Piper Sandler lifted their price target on Revolve Group from $27.00 to $30.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. BTIG Research restated a “buy” rating and issued a $35.00 price objective on shares of Revolve Group in a research note on Friday, August 21st. UBS Group upped their price objective on Revolve Group from $28.00 to $29.00 and gave the company a “neutral” rating in a research note on Wednesday, August 5th. Roth Capital reaffirmed a “buy” rating and issued a $37.00 price objective on shares of Revolve Group in a research report on Wednesday, August 5th. Finally, Wall Street Zen cut Revolve Group from a “buy” rating to a “hold” rating in a research report on Saturday, July 25th. Seven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, Revolve Group presently has a consensus rating of “Moderate Buy” and an average target price of $30.08.

Revolve Group Price Performance

The stock has a market capitalization of $1.66 billion, a P/E ratio of 23.06, a PEG ratio of 2.67 and a beta of 1.70. The stock’s 50-day simple moving average is $22.02 and its 200 day simple moving average is $22.49.

Revolve Group (NYSE:RVLV) last issued its quarterly earnings data on Tuesday, August 4th. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.05. The company had revenue of $347.41 million for the quarter, compared to analyst estimates of $341.91 million. Revolve Group had a net margin of 5.54% and a return on equity of 13.38%. The company’s revenue was up 12.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.14 earnings per share. As a group, analysts expect that Revolve Group, Inc. will post 0.82 earnings per share for the current fiscal year.

Institutional Trading of Revolve Group

Hedge funds and other institutional investors have recently modified their holdings of the stock. Integrated Wealth Concepts LLC acquired a new position in Revolve Group in the 2nd quarter valued at about $46,000. Elevation Point Wealth Partners LLC acquired a new stake in Revolve Group during the first quarter worth approximately $218,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in Revolve Group during the second quarter worth approximately $259,000. OMERS ADMINISTRATION Corp acquired a new stake in Revolve Group during the first quarter worth approximately $312,000. Finally, Inspire Investing LLC lifted its position in Revolve Group by 48.1% during the first quarter. Inspire Investing LLC now owns 22,775 shares of the company’s stock worth $515,000 after acquiring an additional 7,393 shares during the last quarter. Institutional investors own 67.60% of the company’s stock.

About Revolve Group

Revolve Group, Inc operates a digital-first fashion retail business serving consumers through the REVOLVE and FWRD platforms. The company offers a curated selection of contemporary and luxury apparel, footwear, accessories, beauty products and lifestyle merchandise from third-party brands, as well as products from its own private-label brands.

REVOLVE is focused on trend-oriented fashion and uses data, digital marketing, social media and relationships with influencers and creators to reach its customer base.