Revolve Group Inc RVLV:NYSE

Last Price$26.36NYSE Previous Close - Last Trade as of 7:00PM ET 7/01/22

Today's Change+0.45(1.74%)
Bid (Size)$24.65 (4)
Ask (Size)$27.08 (7)
Day Low / High$25.61 - 26.89
Volume1.3 M

Revolve Group Shares Drop After Multiple Price Target Cuts Following Q1 Results

1:06PM ET 5/04/2022 MT Newswires
Revolve Group's (RVLV) shares were down over 21% in Wednesday afternoon trading after a slew of analyst price target cuts that followed the company's Q1 results.

Wedbush lowered its price target for Resolve stock to $59 from $68 while Raymond James cut its price target to $62 from $73, with both analysts maintaining their outperform rating. Meanwhile, Credit Suisse trimmed its price target to $58 from $74 while reiterating its outperform rating.

Revolve reported Q1 earnings late Tuesday of $0.30 per diluted share, unchanged from a year earlier. Analysts polled by Capital IQ expected $0.27.

Net sales for the quarter ended March 31 were $283.5 million, up from $178.9 million a year earlier. Analysts surveyed by Capital IQ expected $256.8 million.

Price: 34.19, Change: -9.32, Percent Change: -21.42