Revolve Group (NYSE:RVLV) Shares Up 5.6%

Revolve Group (NYSE:RVLV) shares shot up 5.6% during mid-day trading on Wednesday . The stock traded as high as $18.01 and last traded at $17.59, 1,485,150 shares traded hands during trading. A decline of 0% from the average session volume of 1,489,008 shares. The stock had previously closed at $16.66.

Several brokerages have issued reports on RVLV. Morgan Stanley lowered their target price on shares of Revolve Group from $37.00 to $27.00 and set an “overweight” rating on the stock in a research note on Friday, November 15th. Raymond James lowered their price target on shares of Revolve Group from $40.00 to $30.00 and set an “outperform” rating on the stock in a research report on Friday, November 8th. They noted that the move was a valuation call. Robert W. Baird initiated coverage on shares of Revolve Group in a research report on Tuesday, November 12th. They set an “outperform” rating and a $26.00 price target on the stock. Jefferies Financial Group boosted their price target on shares of Revolve Group from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Finally, Guggenheim reissued a “buy” rating and set a $50.00 price target on shares of Revolve Group in a research report on Monday, November 4th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Revolve Group presently has a consensus rating of “Buy” and an average target price of $36.70.

The firm’s 50-day moving average price is $18.59.

Revolve Group (NYSE:RVLV) last announced its quarterly earnings results on Thursday, November 7th. The company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.01. The firm had revenue of $154.20 million for the quarter, compared to analyst estimates of $153.13 million. During the same period in the previous year, the firm posted $0.10 EPS. The company’s revenue was up 22.5% compared to the same quarter last year. As a group, equities analysts forecast that Revolve Group will post 0.55 EPS for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. CenterStar Asset Management LLC acquired a new position in Revolve Group in the second quarter valued at about $56,000. Steward Partners Investment Advisory LLC increased its stake in Revolve Group by 346.7% during the third quarter. Steward Partners Investment Advisory LLC now owns 2,680 shares of the company’s stock worth $62,000 after purchasing an additional 2,080 shares during the period. First Mercantile Trust Co. purchased a new stake in Revolve Group during the third quarter worth about $115,000. Gs Investments Inc. purchased a new stake in Revolve Group during the second quarter worth about $178,000. Finally, Sfmg LLC purchased a new stake in Revolve Group during the second quarter worth about $201,000. 25.54% of the stock is currently owned by institutional investors.

About Revolve Group (NYSE:RVLV)

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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