Revolve Group (NYSE:RVLV) Stock Price Down 10.8% - Here's What Happened

Key Points

• Revolve Group's stock dropped by 10.8%, closing at $18.47, following a trading session with increased volume of 1,493,741 shares.
• Several analysts have adjusted their price targets for Revolve Group, with ratings ranging from "buy" to "neutral," and a consensus target price of $26.88.
• The company's recent earnings report showed a quarterly revenue increase of 9.3% year-over-year, with earnings per share surpassing estimates at $0.14.

Shares of Revolve Group, Inc. (NYSE:RVLV - Get Free Report) traded down 10.8% during mid-day trading on Wednesday . The company traded as low as $18.31 and last traded at $18.47. 1,493,741 shares changed hands during mid-day trading, an increase of 7% from the average session volume of 1,401,443 shares. The stock had previously closed at $20.70.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Stifel Nicolaus lowered their target price on Revolve Group from $40.00 to $28.00 and set a "buy" rating for the company in a research note on Thursday, April 10th. Barclays reiterated a "reduce" rating on shares of Revolve Group in a research note on Wednesday, May 7th. UBS Group restated a "neutral" rating and set a $22.00 price objective (up previously from $19.00) on shares of Revolve Group in a research note on Friday, July 25th. Piper Sandler raised their price objective on Revolve Group from $22.00 to $25.00 and gave the company an "overweight" rating in a research note on Wednesday. Finally, Morgan Stanley raised their price objective on Revolve Group from $22.00 to $24.00 and gave the company an "equal weight" rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, five have given a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $27.40.

Revolve Group Stock Performance

The firm has a market cap of $1.39 billion, a P/E ratio of 31.42, a P/E/G ratio of 2.64 and a beta of 1.98. The firm has a fifty day moving average of $21.05 and a 200-day moving average of $22.81.

Revolve Group (NYSE:RVLV - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.02. The business had revenue of $308.97 million for the quarter, compared to the consensus estimate of $297.91 million. Revolve Group had a return on equity of 10.17% and a net margin of 3.83%. The business's revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the business posted $0.21 EPS. Equities research analysts expect that Revolve Group, Inc. will post 0.6 earnings per share for the current year.

Institutional Trading of Revolve Group

Several hedge funds have recently made changes to their positions in RVLV. Summit Securities Group LLC bought a new stake in Revolve Group during the 1st quarter valued at $25,000. Generali Investments Towarzystwo Funduszy Inwestycyjnych bought a new stake in Revolve Group during the 2nd quarter valued at $60,000. CWM LLC raised its stake in Revolve Group by 40.4% during the 1st quarter. CWM LLC now owns 2,905 shares of the company's stock valued at $62,000 after acquiring an additional 836 shares in the last quarter. Castlekeep Investment Advisors LLC bought a new stake in Revolve Group during the 4th quarter valued at $65,000. Finally, Logan Capital Management Inc. raised its stake in Revolve Group by 35.5% during the 2nd quarter. Logan Capital Management Inc. now owns 5,579 shares of the company's stock valued at $112,000 after acquiring an additional 1,463 shares in the last quarter. 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.