Revolve Group price target raised to $35 from $30 at BTIG

BTIG raised the firm’s price target on Revolve Group (RVLV) to $35 from $30 and keeps a Buy rating on the shares after its Q3 earnings beat. The company significantly surpassed estimates, showing accelerating top-line momentum paired with meaningful margin upside as varies execution opportunities are beginning to coalesce, the analyst tells investors in a research note. Gross margins were slightly weaker than expected, and BTIG expects some continued pressure into FY25, but also believes this headwind to be modest compared to the significant margin recapture opportunity from efficiency initiatives, lower return rates, and leverage off an improving top line, the firm added.