RVLV - Revolve Group tipped for breakout with Coachella leading off the festival season

BTIG is positive on Revolve Group (NYSE:RVLV) heading into the retailer's earnings report on May 3. While analyst Camilo Lyon and team forecast below consensus marks of Q1 revenue growth of +37% and EPS of $0.24, recent tracking data indicates that the RVLV guidance could be strong. "While March was a tougher comp for RVLV, broader demand trends improved sequentially across consumer likely to the benefit of RVLV. We saw this unfold in our data tracking as March web traffic to revolve.com grew 29.5% y/y, accelerating 22% sequentially on a two-year basis from February." The momentum is said to have continued into April, particularly due to buzz around the Revolve Festival at Coachella. Importantly, Q2 is noted to mark the return of festival season in addition to what should be a continued ramp in in-person influencer events for the balance of the year. BTIG kept a Buy rating on RVLV

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Revolve Group tipped for breakout with Coachella leading off the festival season