Revolve Group (NYSE:RVLV) Stock Price Down 8%

Revolve Group, Inc. (NYSE:RVLV - Get Free Report)'s stock price was down 8% on Wednesday . The company traded as low as $19.29 and last traded at $19.31. Approximately 320,419 shares changed hands during trading, a decline of 71% from the average daily volume of 1,102,984 shares. The stock had previously closed at $20.99.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Piper Sandler boosted their price target on shares of Revolve Group from $21.00 to $22.50 and gave the stock an "overweight" rating in a research report on Wednesday, February 28th. Roth Mkm upped their price target on shares of Revolve Group from $16.00 to $21.00 and gave the company a "buy" rating in a research report on Wednesday, December 20th. Jefferies Financial Group reiterated a "hold" rating and set a $17.00 price target on shares of Revolve Group in a report on Thursday, January 4th. BTIG Research boosted their price objective on Revolve Group from $22.00 to $24.00 and gave the company a "buy" rating in a research note on Wednesday, April 3rd. Finally, Barclays raised their target price on Revolve Group from $12.00 to $13.00 and gave the stock an "underweight" rating in a research note on Thursday, February 29th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Revolve Group has an average rating of "Hold" and an average target price of $18.85.

Revolve Group Price Performance

The stock has a market cap of $1.36 billion, a price-to-earnings ratio of 50.63, a P/E/G ratio of 1.40 and a beta of 2.17. The company's fifty day simple moving average is $18.93 and its two-hundred day simple moving average is $16.25.

Revolve Group (NYSE:RVLV - Get Free Report) last posted its earnings results on Tuesday, February 27th. The company reported $0.05 earnings per share for the quarter, topping analysts' consensus estimates of $0.02 by $0.03. The company had revenue of $257.78 million for the quarter, compared to analyst estimates of $246.20 million. Revolve Group had a net margin of 2.63% and a return on equity of 7.11%. The firm's revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.11 EPS. On average, analysts forecast that Revolve Group, Inc. will post 0.48 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of RVLV. Kayne Anderson Rudnick Investment Management LLC boosted its holdings in Revolve Group by 5.5% during the third quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,466,195 shares of the company's stock worth $101,615,000 after purchasing an additional 390,670 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Revolve Group by 51.0% in the 2nd quarter. BlackRock Inc. now owns 4,235,256 shares of the company's stock worth $69,458,000 after buying an additional 1,430,242 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Revolve Group by 0.5% in the third quarter. Vanguard Group Inc. now owns 3,915,304 shares of the company's stock valued at $53,287,000 after acquiring an additional 18,228 shares in the last quarter. Stephens Investment Management Group LLC increased its position in shares of Revolve Group by 10.3% during the second quarter. Stephens Investment Management Group LLC now owns 1,310,538 shares of the company's stock valued at $21,493,000 after acquiring an additional 122,581 shares during the last quarter. Finally, State Street Corp increased its position in shares of Revolve Group by 17.4% during the second quarter. State Street Corp now owns 1,195,365 shares of the company's stock valued at $19,604,000 after acquiring an additional 176,910 shares during the last quarter. Hedge funds and other institutional investors own 67.60% of the company's stock.

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.