Evercore ISI analyst Michael Binetti raised the firm’s price target on Revolve Group (RVLV) to $21 from $19 and keeps an In Line rating on the shares following Q3 results the firm calls “a mixed bag,” including a solid EBITDA beat offset by a slight revenue miss. While the Q3 EBITDA performance was “robust,” Revolve needs to demonstrate that upcoming initiatives can translate into a meaningful sales acceleration to justify a higher valuation, the analyst argues.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on RVLV:
- Revolve Group price target raised to $30 from $27 at Roth Capital
- Revolve Group price target raised to $26 from $24 at Morgan Stanley
- Revolve Group: Hold Rating Amid Margin Improvement and Growth Uncertainty
- Cautious Outlook on Revolve Group Amid Macroeconomic Concerns and Import Exposure
- Revolve Group price target raised to $24 from $23 at Barclays