Morgan Stanley Boosts Revolve Group (NYSE:RVLV) Price Target to $22.00

Revolve Group (NYSE:RVLV) had its price target hoisted by equities researchers at Morgan Stanley from $19.00 to $22.00 in a research note issued on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s target price indicates a potential upside of 0.73% from the stock’s current price.

RVLV has been the subject of several other reports. Robert W. Baird lifted their price objective on Revolve Group from $23.00 to $25.00 and gave the stock a “neutral” rating in a research report on Friday, June 6th. Barclays reissued a “reduce” rating on shares of Revolve Group in a research note on Wednesday, May 7th. UBS Group decreased their price target on shares of Revolve Group from $22.00 to $19.00 and set a “neutral” rating for the company in a research report on Wednesday, May 7th. Piper Sandler lowered their target price on Revolve Group from $35.00 to $22.00 and set an “overweight” rating for the company in a research note on Friday, April 11th. Finally, KeyCorp decreased their price target on Revolve Group from $37.00 to $25.00 and set an “overweight” rating for the company in a research note on Wednesday, May 7th. One analyst has rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $26.27.

Revolve Group Trading Up 2.1%

Shares of RVLV traded up $0.45 during mid-day trading on Monday, hitting $21.84. 127,194 shares of the company’s stock were exchanged, compared to its average volume of 1,205,968. Revolve Group has a fifty-two week low of $16.77 and a fifty-two week high of $39.58. The firm has a market capitalization of $1.56 billion, a P/E ratio of 31.59, a P/E/G ratio of 3.10 and a beta of 1.98. The business’s 50 day moving average is $20.82 and its two-hundred day moving average is $23.62.

Revolve Group (NYSE:RVLV) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.16 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.03. The firm had revenue of $296.71 million during the quarter, compared to the consensus estimate of $297.56 million. Revolve Group had a net margin of 4.37% and a return on equity of 11.76%. The firm’s revenue was up 9.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.15 earnings per share. On average, equities research analysts forecast that Revolve Group will post 0.6 earnings per share for the current year.

Hedge Funds Weigh In On Revolve Group

Several hedge funds have recently bought and sold shares of the business. Summit Securities Group LLC bought a new stake in Revolve Group during the first quarter valued at about $25,000. CWM LLC boosted its holdings in Revolve Group by 40.4% during the first quarter. CWM LLC now owns 2,905 shares of the company’s stock valued at $62,000 after acquiring an additional 836 shares during the period. Castlekeep Investment Advisors LLC bought a new stake in Revolve Group during the fourth quarter valued at about $65,000. Wallace Advisory Group LLC bought a new stake in Revolve Group during the first quarter valued at about $136,000. Finally, Neo Ivy Capital Management bought a new stake in Revolve Group during the fourth quarter valued at about $156,000. 67.60% of the stock is owned by institutional investors and hedge funds.

About Revolve Group

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.