Morgan Stanley Maintains Equal-Weight Rating for Rover Group: Here's What You Need To Know

Morgan Stanley has decided to maintain its Equal-Weight rating of Rover Group ROVR and lower its price target from $6.00 to $4.50.

Shares of Rover Group are trading down 9.74% over the last 24 hours, at $3.80 per share.

A move to $4.50 would account for a 18.42% increase from the current share price.

About Rover Group

Rover Group Inc is an online marketplace for pet care based on gross booking value or GBV. The company connects pet parents with loving pet care providers who offer overnight services, including boarding and in-home pet sitting, as well as daytime services, including doggy daycare, dog walking, and drop-in visits. The user-based platform extends across the U.S., Canada, the U.K., Spain, France, Norway, Sweden, Netherlands, Italy and Germany. For pet care providers, the company built tools to easily create a listing in the marketplace along with simple tools for scheduling and booking care, communicating with pet parents, and receiving payment. The company generates revenue from facilitating the connection between pet care providers and pet parents.

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This article was generated by Benzinga's automated content engine and reviewed by an editor.