Revolve Group price target lowered to $27 from $30 at Piper Sandler

Piper Sandler lowered the firm’s price target on Revolve Group (RVLV) to $27 from $30 and keeps an Overweight rating on the shares. The firm says the company surprised to the upside with Q1 sales up 16% as top-line momentum continued from the February update across both brands, domestic and international; April grew an impressive 14%, despite the headwind from the Middle East and what could be early signs of softer consumer confidence in the U.S. as the conflict continues.