Needham Releases a Hold Rating on Revolve Group (RVLV)

By Carrie Williams

Needham analyst Rick Patel assigned a Hold rating to Revolve Group (RVLVResearch Report) today. The company’s shares closed last Friday at $37.34, close to its 52-week high of $40.94.

According to TipRanks.com, Patel is a 5-star analyst with an average return of 24.4% and a 51.9% success rate. Patel covers the Consumer Goods sector, focusing on stocks such as Lululemon Athletica, Columbia Sportswear, and Capri Holdings.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Revolve Group with a $39.71 average price target, a 7.3% upside from current levels. In a report issued on February 17, Morgan Stanley also maintained a Hold rating on the stock with a $33.00 price target.

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The company has a one-year high of $40.94 and a one-year low of $7.17. Currently, Revolve Group has an average volume of 1.1M.

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Revolve Group, Inc. engages in the retail of next-generation fashion for millenial consumers. It operates through the following segments: Revolve and Forward. The Revolve segment offers assortment of apparel and footwear, accessories and beauty products from emerging, established and owned brands. The Forward segment provides luxury products. The company was founded by Michael Mente and Mike Karanikolas in 2003 and is headquartered in Cerritos, CA.