Shares of Rover Group, Inc. (NASDAQ:ROVR – Get Rating) have received a consensus recommendation of "Hold" from the eight brokerages that are presently covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $7.31.
A number of equities analysts have issued reports on ROVR shares. Morgan Stanley cut their price target on Rover Group from $6.00 to $4.50 and set an "equal weight" rating for the company in a research note on Monday, August 8th. The Goldman Sachs Group started coverage on shares of Rover Group in a research report on Friday, July 15th. They set a "neutral" rating and a $4.50 target price on the stock. JPMorgan Chase & Co. started coverage on shares of Rover Group in a research report on Thursday, July 7th. They set a "neutral" rating and a $5.00 target price on the stock. Finally, Gordon Haskett cut shares of Rover Group from a "buy" rating to a "hold" rating and dropped their target price for the stock from $5.50 to $3.50 in a research report on Tuesday, August 9th.
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Shares of ROVR opened at $3.20 on Tuesday. The stock has a 50-day moving average of $4.03 and a 200-day moving average of $4.72. The company has a market cap of $584.90 million, a PE ratio of -5.25 and a beta of 1.03. Rover Group has a one year low of $3.14 and a one year high of $15.36.
Rover Group (NASDAQ:ROVR – Get Rating) last released its quarterly earnings results on Thursday, August 4th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.03) by $0.01. The business had revenue of $43.37 million during the quarter, compared to the consensus estimate of $42.09 million. Rover Group had a negative return on equity of 8.89% and a negative net margin of 43.25%. The company's quarterly revenue was up 77.2% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.59) EPS. Analysts expect that Rover Group will post -0.1 EPS for the current fiscal year.Insider Activity
In other news, COO Brenton R. Turner sold 19,490 shares of the business's stock in a transaction on Monday, September 12th. The shares were sold at an average price of $4.11, for a total transaction of $80,103.90. Following the completion of the transaction, the chief operating officer now directly owns 1,052,937 shares in the company, valued at approximately $4,327,571.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Aaron Easterly sold 30,184 shares of the company's stock in a transaction on Monday, September 12th. The shares were sold at an average price of $4.11, for a total value of $124,056.24. Following the completion of the transaction, the chief executive officer now directly owns 3,254,668 shares in the company, valued at $13,376,685.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Brenton R. Turner sold 19,490 shares of the company's stock in a transaction on Monday, September 12th. The stock was sold at an average price of $4.11, for a total transaction of $80,103.90. Following the completion of the transaction, the chief operating officer now owns 1,052,937 shares of the company's stock, valued at $4,327,571.07. The disclosure for this sale can be found here. Insiders sold 53,475 shares of company stock worth $219,782 in the last three months. Corporate insiders own 36.90% of the company's stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Verition Fund Management LLC purchased a new position in Rover Group in the second quarter worth $38,000. Garde Capital Inc. grew its position in Rover Group by 160.7% in the second quarter. Garde Capital Inc. now owns 178,187 shares of the company's stock worth $670,000 after acquiring an additional 109,839 shares in the last quarter. Legal & General Group Plc lifted its stake in Rover Group by 34.7% in the second quarter. Legal & General Group Plc now owns 28,140 shares of the company's stock worth $106,000 after purchasing an additional 7,256 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Rover Group by 383.5% in the second quarter. Goldman Sachs Group Inc. now owns 426,479 shares of the company's stock worth $1,604,000 after purchasing an additional 338,269 shares during the last quarter. Finally, SVB Wealth LLC bought a new stake in Rover Group in the second quarter worth $3,130,000. 84.70% of the stock is currently owned by hedge funds and other institutional investors.
Rover Group Company Profile
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Rover Group, Inc operates an online marketplace for pet care worldwide. It connects pet parents with pet providers who offer overnight services, including boarding and in-home pet sitting, as well as daytime services, such as doggy daycare, dog walking, drop-in visits, grooming, and training. The company is headquartered in Seattle, Washington.
Further Reading
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