Revolve Group (NYSE:RVLV) Announces Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Revolve Group (NYSE:RVLV) released its earnings results on Tuesday. The company reported $0.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.06, Briefing.com reports. The business had revenue of $283.15 million for the quarter, compared to analyst estimates of $271.08 million. Revolve Group had a net margin of 3.08% and a return on equity of 8.35%. Revolve Group’s revenue for the quarter was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.04 earnings per share.

Revolve Group Trading Up 23.5 %

Shares of RVLV traded up $6.12 during midday trading on Wednesday, reaching $32.14. The stock had a trading volume of 2,275,103 shares, compared to its average volume of 1,003,081. The company has a market capitalization of $2.27 billion, a price-to-earnings ratio of 70.24, a price-to-earnings-growth ratio of 2.43 and a beta of 2.05. Revolve Group has a 12-month low of $12.63 and a 12-month high of $32.70. The company’s 50-day moving average is $24.47 and its 200 day moving average is $21.01.

Insider Activity at Revolve Group

In related news, major shareholder Mmmk Development, Inc. sold 6,493 shares of the stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $25.92, for a total transaction of $168,298.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Revolve Group news, major shareholder Mmmk Development, Inc. sold 6,493 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $25.92, for a total transaction of $168,298.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael Mente sold 48,346 shares of the company’s stock in a transaction that occurred on Thursday, October 17th. The shares were sold at an average price of $26.32, for a total value of $1,272,466.72. Following the transaction, the chief executive officer now directly owns 73,000 shares of the company’s stock, valued at $1,921,360. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 124,573 shares of company stock worth $3,260,634 in the last ninety days. 46.56% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have weighed in on RVLV shares. UBS Group lifted their price target on shares of Revolve Group from $21.00 to $25.00 and gave the company a “neutral” rating in a research note on Thursday, October 17th. Roth Mkm reiterated a “buy” rating and issued a $35.00 target price (up from $29.00) on shares of Revolve Group in a research note on Wednesday. TD Cowen boosted their target price on shares of Revolve Group from $28.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday. Barclays upgraded shares of Revolve Group from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $17.00 to $25.00 in a research note on Wednesday. Finally, Morgan Stanley reiterated an “equal weight” rating and issued a $26.00 price objective (up previously from $17.00) on shares of Revolve Group in a research report on Monday, October 21st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $25.88.

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.