Rover Group (NASDAQ:ROVR) Price Target Increased to $6.75 by Analysts at The Goldman Sachs Group

Rover Group (NASDAQ:ROVR) had its target price boosted by The Goldman Sachs Group from $6.00 to $6.75 in a research report released on Tuesday, Benzinga reports. The Goldman Sachs Group currently has a neutral rating on the stock.

Several other equities research analysts have also commented on ROVR. Morgan Stanley boosted their target price on shares of Rover Group from $6.00 to $6.50 and gave the stock an equal weight rating in a research report on Wednesday, August 2nd. JPMorgan Chase & Co. lifted their price target on Rover Group from $5.00 to $6.00 and gave the stock a neutral rating in a research note on Wednesday, August 2nd. TheStreet raised Rover Group from a d rating to a c- rating in a research note on Wednesday, August 2nd. Canaccord Genuity Group lifted their price target on Rover Group from $7.00 to $8.00 and gave the stock a buy rating in a research note on Wednesday, August 2nd. Finally, DA Davidson lifted their price target on Rover Group from $6.00 to $7.50 and gave the stock a buy rating in a research note on Thursday, August 3rd. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $7.13.

Rover Group Price Performance

NASDAQ:ROVR opened at $7.96 on Tuesday. The firm has a market cap of $1.45 billion, a price-to-earnings ratio of -99.50 and a beta of 1.44. Rover Group has a 1-year low of $3.38 and a 1-year high of $8.40. The firm’s fifty day moving average price is $6.51 and its 200 day moving average price is $5.62.

Rover Group (NASDAQ:ROVR) last issued its earnings results on Monday, November 6th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.03 by $0.02. The company had revenue of $66.20 million for the quarter, compared to analyst estimates of $62.23 million. Rover Group had a negative net margin of 7.46% and a positive return on equity of 1.60%. The business’s revenue was up 30.1% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.08) EPS. As a group, analysts expect that Rover Group will post 0.05 earnings per share for the current fiscal year.

Insider Activity at Rover Group

In related news, major shareholder Group Next L.P. Foundry sold 170,135 shares of the business’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $6.45, for a total value of $1,097,370.75. Following the completion of the transaction, the insider now owns 12,780,175 shares of the company’s stock, valued at approximately $82,432,128.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, major shareholder Group Next L.P. Foundry sold 170,135 shares of the business’s stock in a transaction dated Thursday, November 2nd. The shares were sold at an average price of $6.45, for a total value of $1,097,370.75. Following the completion of the transaction, the insider now owns 12,780,175 shares of the company’s stock, valued at approximately $82,432,128.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Aaron Easterly sold 34,200 shares of the business’s stock in a transaction dated Tuesday, October 17th. The shares were sold at an average price of $7.10, for a total transaction of $242,820.00. Following the completion of the transaction, the chief executive officer now directly owns 3,977,070 shares of the company’s stock, valued at approximately $28,237,197. The disclosure for this sale can be found here. In the last quarter, insiders sold 336,322 shares of company stock valued at $2,210,609. 36.40% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of ROVR. FMR LLC increased its stake in shares of Rover Group by 135.3% during the 2nd quarter. FMR LLC now owns 3,002,090 shares of the company’s stock valued at $11,288,000 after acquiring an additional 1,725,978 shares during the last quarter. Select Equity Group L.P. increased its stake in shares of Rover Group by 3,225.3% during the 4th quarter. Select Equity Group L.P. now owns 1,480,726 shares of the company’s stock valued at $5,434,000 after acquiring an additional 1,436,197 shares during the last quarter. Half Sky Capital UK Ltd increased its stake in shares of Rover Group by 135.0% during the 2nd quarter. Half Sky Capital UK Ltd now owns 1,838,234 shares of the company’s stock valued at $9,021,000 after acquiring an additional 1,055,893 shares during the last quarter. State Street Corp increased its stake in shares of Rover Group by 304.5% during the 2nd quarter. State Street Corp now owns 1,400,112 shares of the company’s stock valued at $5,264,000 after acquiring an additional 1,053,972 shares during the last quarter. Finally, Hamilton Lane Advisors LLC purchased a new stake in shares of Rover Group during the 2nd quarter worth about $4,791,000. Institutional investors and hedge funds own 79.52% of the company’s stock.

About Rover Group

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 was founded in 2011 and is headquartered in Seattle, Washington.