These Analysts Boost Their Forecasts On Revolve Group After Q4 Earnings

Revolve Group, Inc. RVLV reported upbeat results for its fourth quarter on Tuesday.

Revolve Group posted GAAP earnings of 5 cents per share, beating market estimates of 2 cents per share. The company’s quarterly sales came in at $257.78 million versus expectations of $246.38 million, according to data from Benzinga Pro.

"I'm proud of our team's accomplishments in 2023 that set us up well for 2024," said co-founder and co-CEO Mike Karanikolas. "Despite the challenging backdrop for consumer discretionary spending, we closed out the year with a solid fourth quarter that included improved sales trends, year-over-year expansion of our gross margin and early progress on selling and distribution cost efficiencies."

Revolve Group shares gained 3.1% to close at $17.49 on Tuesday.

These analysts made changes to their price targets on Revolve Group after the company reported quarterly results.

• Needham raised the price target on Revolve Group from $16 to $23. Needham analyst Anna Andreeva maintained a Buy rating.
• Wedbush boosted the price target on Revolve Group from $12 to $17. Wedbush analyst Tom Nikic maintained a Neutral rating.
• Raymond James analyst Rick Paterson upgraded Revolve from Market Perform to Outperform and announced a $21 price target.

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