Revolve Group (NYSE:RVLV) Stock Price Up 7.7% - Here's Why

Revolve Group, Inc. (NYSE:RVLV - Get Free Report)'s share price shot up 7.7% during mid-day trading on Thursday . The stock traded as high as $22.39 and last traded at $22.40. 571,997 shares traded hands during trading, a decline of 53% from the average session volume of 1,208,345 shares. The stock had previously closed at $20.80.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on RVLV. Raymond James Financial decreased their price target on Revolve Group from $25.00 to $21.00 and set an "outperform" rating for the company in a report on Wednesday, May 7th. Morgan Stanley decreased their price target on Revolve Group from $29.00 to $21.00 and set an "equal weight" rating for the company in a report on Thursday, April 17th. Cowen reiterated a "buy" rating on shares of Revolve Group in a report on Friday, June 6th. Barclays restated a "reduce" rating on shares of Revolve Group in a research note on Wednesday, May 7th. Finally, Robert W. Baird upped their price objective on Revolve Group from $23.00 to $25.00 and gave the company a "neutral" rating in a research note on Friday, June 6th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $26.20.

Revolve Group Trading Down 2.6%

The firm has a fifty day simple moving average of $20.46 and a two-hundred day simple moving average of $24.26. The stock has a market cap of $1.51 billion, a PE ratio of 30.75, a PEG ratio of 3.01 and a beta of 1.98.

Revolve Group (NYSE:RVLV - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.16 earnings per share for the quarter, beating analysts' consensus estimates of $0.13 by $0.03. The company had revenue of $296.71 million for the quarter, compared to analysts' expectations of $297.56 million. Revolve Group had a return on equity of 11.76% and a net margin of 4.37%. Revolve Group's revenue for the quarter was up 9.7% compared to the same quarter last year. During the same period last year, the firm posted $0.15 EPS. Equities analysts forecast that Revolve Group, Inc. will post 0.6 earnings per share for the current year.

Hedge Funds Weigh In On Revolve Group

A number of large investors have recently modified their holdings of RVLV. Summit Securities Group LLC purchased a new position in shares of Revolve Group during the 1st quarter valued at about $25,000. CWM LLC raised its holdings in shares of 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 buying an additional 836 shares in the last quarter. Castlekeep Investment Advisors LLC bought a new position in Revolve Group during the 4th quarter worth approximately $65,000. Northwest & Ethical Investments L.P. bought a new position in Revolve Group during the 4th quarter worth approximately $87,000. Finally, Harvest Fund Management Co. Ltd bought a new position in Revolve Group during the 4th quarter worth approximately $117,000. 67.60% of the stock is owned by hedge funds and other institutional investors.

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.