Rover Group, Inc. (NASDAQ:ROVR) Receives Average Recommendation of “Hold” from Brokerages

Rover Group, Inc. (NASDAQ:ROVR – Get Rating) has earned a consensus rating of “Hold” from the seven ratings firms that are covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $5.25.

A number of brokerages have commented on ROVR. Canaccord Genuity Group reduced their price objective on Rover Group from $8.00 to $7.00 and set a “buy” rating for the company in a research note on Tuesday, February 28th. JMP Securities cut their target price on Rover Group from $8.00 to $6.00 and set a “market outperform” rating on the stock in a research report on Wednesday, January 11th. Finally, Morgan Stanley cut their target price on Rover Group from $6.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 18th.

Rover Group Price Performance

NASDAQ ROVR opened at $3.85 on Tuesday. The business has a 50 day simple moving average of $3.96 and a 200 day simple moving average of $4.05. Rover Group has a one year low of $3.14 and a one year high of $6.52. The stock has a market capitalization of $707.44 million, a P/E ratio of -32.08 and a beta of 1.52.

Rover Group (NASDAQ:ROVR – Get Rating) last released its earnings results on Monday, February 27th. The company reported $0.03 EPS for the quarter. Rover Group had a negative return on equity of 3.97% and a negative net margin of 12.63%. The business had revenue of $52.00 million during the quarter, compared to analysts’ expectations of $50.15 million. During the same quarter last year, the firm posted ($0.03) earnings per share. The firm’s revenue was up 36.8% on a year-over-year basis.

Institutional Trading of Rover Group

A number of hedge funds have recently bought and sold shares of ROVR. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in Rover Group during the second quarter worth $34,000. Neuberger Berman Group LLC bought a new stake in Rover Group during the third quarter worth $37,000. Victory Capital Management Inc. bought a new stake in Rover Group during the fourth quarter worth $38,000. Verition Fund Management LLC bought a new stake in Rover Group during the second quarter worth $38,000. Finally, Platform Technology Partners bought a new stake in Rover Group during the fourth quarter worth $40,000. 82.88% of the stock is currently owned by 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.