Rover Group (NASDAQ:ROVR) Price Target Increased to $7.00 by Analysts at JPMorgan Chase & Co.

Rover Group (NASDAQ:ROVR) had its price target boosted by JPMorgan Chase & Co. from $6.00 to $7.00 in a research report report published on Tuesday, Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities research analysts also recently issued reports on the stock. Morgan Stanley upped their price objective 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. DA Davidson upped their price objective on shares of Rover Group from $6.00 to $7.50 and gave the stock a buy rating in a research report on Thursday, August 3rd. Canaccord Genuity Group upped their price objective on shares of Rover Group from $7.00 to $8.00 and gave the stock a buy rating in a research report on Wednesday, August 2nd. JMP Securities increased their target price on shares of Rover Group from $6.00 to $7.00 and gave the company an outperform rating in a research report on Wednesday, August 2nd. Finally, The Goldman Sachs Group increased their target price on shares of Rover Group from $6.00 to $6.75 and gave the company a neutral rating in a research report on Tuesday. Three analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of Moderate Buy and an average price target of $7.13.

Rover Group Price Performance

NASDAQ:ROVR opened at $7.96 on Tuesday. The firm has a 50-day moving average of $6.51 and a 200-day moving average of $5.62. The company has a market cap of $1.45 billion, a PE ratio of -99.50 and a beta of 1.44. Rover Group has a one year low of $3.38 and a one year high of $8.40.

Rover Group (NASDAQ:ROVR) last issued its quarterly earnings data on Monday, November 6th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. Rover Group had a negative net margin of 7.46% and a positive return on equity of 1.60%. The business had revenue of $66.20 million during the quarter, compared to the consensus estimate of $62.23 million. During the same period in the prior year, the firm posted ($0.08) EPS. The firm’s quarterly revenue was up 30.1% compared to the same quarter last year. On average, equities research 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, CEO Aaron Easterly sold 34,200 shares of the company’s stock in a transaction that occurred on Tuesday, October 17th. The shares were sold at an average price of $7.10, for a total transaction of $242,820.00. Following the sale, the chief executive officer now directly owns 3,977,070 shares in the company, valued at approximately $28,237,197. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Aaron Easterly sold 34,200 shares of the company’s stock in a transaction that occurred on Tuesday, October 17th. The shares were sold at an average price of $7.10, for a total transaction of $242,820.00. Following the sale, the chief executive officer now directly owns 3,977,070 shares in the company, valued at approximately $28,237,197. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Group Next L.P. Foundry sold 170,135 shares of the company’s stock in a transaction that occurred on Thursday, November 2nd. The shares were sold at an average price of $6.45, for a total transaction of $1,097,370.75. Following the sale, the insider now owns 12,780,175 shares in the company, valued at $82,432,128.75. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 336,322 shares of company stock worth $2,210,609. 36.40% of the stock is owned by corporate insiders.

Institutional Trading of Rover Group

Several institutional investors and hedge funds have recently bought and sold shares of ROVR. Quantbot Technologies LP bought a new position in shares of Rover Group in the 3rd quarter worth $318,000. New York State Common Retirement Fund increased its holdings in shares of Rover Group by 72.4% in the 3rd quarter. New York State Common Retirement Fund now owns 38,345 shares of the company’s stock worth $240,000 after buying an additional 16,105 shares during the last quarter. Barclays PLC increased its holdings in shares of Rover Group by 28.5% in the 3rd quarter. Barclays PLC now owns 62,934 shares of the company’s stock worth $394,000 after buying an additional 13,961 shares during the last quarter. Jump Financial LLC increased its holdings in shares of Rover Group by 113.5% in the 3rd quarter. Jump Financial LLC now owns 106,100 shares of the company’s stock worth $664,000 after buying an additional 56,400 shares during the last quarter. Finally, Olympiad Research LP bought a new position in shares of Rover Group during the 3rd quarter valued at $126,000. 79.52% of the stock is currently owned by hedge funds and other institutional investors.

Rover Group Company Profile

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.