Revolve Group (NASDAQ:RVLV) Announces Earnings Results

Revolve Group (NASDAQ:RVLV) announced its quarterly earnings results on Thursday. The company reported $0.18 EPS for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($0.02), Briefing.com reports. The business had revenue of $161.90 million for the quarter, compared to analyst estimates of $159.93 million. Revolve Group’s revenue for the quarter was up 22.8% on a year-over-year basis.

Shares of NASDAQ RVLV traded down $4.84 during trading on Friday, hitting $26.12. The stock had a trading volume of 3,759,301 shares, compared to its average volume of 1,916,789. Revolve Group has a 12 month low of $25.11 and a 12 month high of $48.36. The company’s fifty day moving average price is $35.09.

In other news, major shareholder L.P. Tsg6 sold 9,914,711 shares of the company’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $18.00, for a total value of $178,464,798.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jennifer Baxter Moser sold 9,927,585 shares of the company’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $18.00, for a total transaction of $178,696,530.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 21,195,238 shares of company stock valued at $381,514,284.

RVLV has been the subject of a number of recent research reports. William Blair initiated coverage on shares of Revolve Group in a research note on Tuesday, July 2nd. They set an “outperform” rating for the company. Cowen initiated coverage on shares of Revolve Group in a research note on Tuesday, July 2nd. They set an “outperform” rating and a $42.00 price target for the company. Credit Suisse Group initiated coverage on shares of Revolve Group in a research note on Tuesday, July 2nd. They set an “outperform” rating and a $40.00 price target for the company. Raymond James initiated coverage on shares of Revolve Group in a research note on Tuesday, July 2nd. They set an “outperform” rating and a $40.00 price target for the company. Finally, Guggenheim restated a “buy” rating and set a $50.00 price target on shares of Revolve Group in a research note on Friday. Two research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $42.63.

About Revolve Group

Revolve Group, Inc operates as an online fashion retailer for consumers in the United States and internationally. The company operates a platform that connects consumers and global fashion influencers, as well as emerging, established, and owned brands. It provides women's apparel, footwear, accessories, and beauty styles under a range of established and emerging brands, as well as owned brands.

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