Grove Collaborative (NYSE:GROV) Posts Quarterly Earnings Results, Beats Expectations By $0.04 EPS

by · The Markets Daily

Grove Collaborative (NYSE:GROV – Get Free Report) issued its earnings results on Thursday. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.04, FiscalAI reports. The business had revenue of $42.41 million for the quarter, compared to the consensus estimate of $42.86 million.

Grove Collaborative Stock Performance

NYSE GROV traded up $0.01 on Thursday, reaching $1.33. The stock had a trading volume of 20,683 shares, compared to its average volume of 63,223. The stock has a market cap of $54.95 million, a P/E ratio of -2.14 and a beta of 1.22. The business’s 50-day moving average price is $1.36 and its 200 day moving average price is $1.40. Grove Collaborative has a 12-month low of $1.02 and a 12-month high of $1.84.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on GROV. Weiss Ratings restated a “sell (e+)” rating on shares of Grove Collaborative in a research report on Monday, December 22nd. Canaccord Genuity Group upped their price objective on Grove Collaborative from $1.50 to $2.00 and gave the stock a “buy” rating in a report on Tuesday, November 11th. One research analyst has rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Grove Collaborative presently has an average rating of “Hold” and a consensus target price of $1.60.

Read Our Latest Report on GROV

Institutional Inflows and Outflows

An institutional investor recently raised its position in Grove Collaborative stock. Susquehanna International Group LLP grew its holdings in Grove Collaborative Holdings, Inc. (NYSE:GROV – Free Report) by 371.2% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 67,637 shares of the company’s stock after buying an additional 53,283 shares during the period. Susquehanna International Group LLP owned 0.16% of Grove Collaborative worth $101,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 91.64% of the company’s stock.

Grove Collaborative Company Profile

(Get Free Report)

Grove Collaborative is a direct-to-consumer digital marketplace offering a broad assortment of sustainable home and personal care products. Operating as a public benefit corporation, the company provides an online platform designed to simplify the shopping experience for eco-friendly essentials, including cleaning supplies, personal care items, baby and family products, wellness goods and pet care.

The company’s business model centers on a subscription-based delivery service that enables members to schedule regular shipments of both third-party and private-label products.

Featured Stories