RVLV - Revolve Group slides after guidance update but Needham says buy the dip

Revolve Group Inc. (NYSE:RVLV) turned sharply lower in early Wednesday trading after the company's weaker-than-anticipated guidance rattled investors. Revolve Group pointed to Q2 revenue growth of over 20% for Q2, which would imply a decelerating trend for May and June after April came in at over 30%. Analysts crambled after the guidance update with price target cuts on the books from Wedbush (to $59 from $68), Raymond James (to $62 from $73), Cowen (to $52 from $65) and BMO Capital Markets (to $35 from $47). Needham was the most bullish sounding of the firms that checked in on RVLV, recommending that investors buy shares on weakness. Analyst Anna Andreeva: "The stock is under pressure after-hours despite being off recent highs coming into the print and street estimates going up; we think RVLV's unique combination of at least 20% top line growth and DD EBITDA margins deserves a premium valuation. RVLV's

For further details see:

Revolve Group slides after guidance update but Needham says buy the dip