Shares of Revolve Group, LLC (RVLV) tumbled 6.28% in pre-market trading on Wednesday, as investors reacted to the company's disappointing first-quarter sales results and a series of analyst downgrades.
The online fashion retailer's stock price decline was initially triggered by reports of a Q1 sales miss. Following this news, several prominent Wall Street firms adjusted their outlook on Revolve Group, with multiple analysts lowering their price targets:
- Morgan Stanley cut its price target to $19 from $21, maintaining an Equalweight rating. - UBS reduced its target price to $19 from $22. - Raymond James lowered its price objective to $21 from $25. - BofA Global Research decreased its price target to $20 from $25. These downgrades reflect growing concerns about Revolve Group's near-term growth prospects and may have contributed to the significant pre-market sell-off.
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