Streetbeat News

ROVR

Rover Group Inc

https://www.rover.com/

CEO

Aaron Easterly

Employees

372

Industry

Offices of Lawyers

Rover.com is an American company which operates an online marketplace for people to buy and sell pet care services including pet sitting, dog boarding, and dog walking. Rover.com was founded in 2011 in Seattle, Washington and is formally incorporated under the name "A Place for Rover, Inc.

Open

10.99

Mkt cap

Volume

1.3M

High

11.00

P/E Ratio

183.25

52-wk high

11.10

Low

10.99

Div yield

N/A

52-wk low

3.75

Morgan Stanley analyst Lauren Schenk has maintained an Equal-Weight rating on Rover Group (NASDAQ:ROVR) and increased the price target from $7 to $11.

Portfolio Pulse from Benzinga Newsdesk

November 30, 2023 | 3:38 pm

U.S. stocks traded higher, with the Dow Jones gaining over 100 points. Hormel Foods Corp reported Q4 sales decline and missed earnings estimates, projecting lower FY24 EPS than expected. Vivos Therapeutics received FDA clearance, causing shares to surge. Rover Group will be acquired by Blackstone. Fluence Energy reported strong Q4 results and provided FY24 guidance. BioVie, Seelos Therapeutics, and Farfetch saw significant share price drops due to negative news. The U.S. economy grew more than expected in Q3, and corporate profits jumped.

Portfolio Pulse from Lisa Levin

November 29, 2023 | 7:20 pm

Patterson Companies, Inc. (PDCO) shares fell by 14% after reporting Q2 earnings of $0.50 per share, missing estimates of $0.58 per share, and lowering FY24 adjusted EPS guidance below expectations. The company's sales were $1.65 billion, below the expected $1.70 billion. Other stocks moved in the mid-day session with various companies experiencing significant gains or losses due to various factors such as FDA clearances, earnings reports, acquisition announcements, and public offerings.

Portfolio Pulse from Lisa Levin

November 29, 2023 | 7:02 pm

JMP Securities analyst Andrew Boone has downgraded Rover Group (NASDAQ:ROVR) from Market Outperform to Market Perform, indicating a change in the firm's outlook on the company's stock.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 6:42 pm

In Wednesday's intraday session, several consumer discretionary stocks experienced significant movements. Kaival Brands Innovations (KAVL) saw a 37.6% increase, while Farfetch (FTCH) dropped by 49%. Other notable gainers include Rover Group (ROVR), GameStop (GME), Foot Locker (FL), and Newegg Commerce (NEGG). On the losing side, Petco Health and Wellness (WOOF), Sonder Holdings (SOND), and Leslies (LESL) saw substantial declines. Earnings releases influenced some of these movements, with Foot Locker's Q3 earnings and Petco's Q3 earnings being released today, and Leslies' Q4 earnings released yesterday.

Portfolio Pulse from Benzinga Insights

November 29, 2023 | 5:31 pm

U.S. stocks traded higher, with the Dow Jones, NASDAQ, and S&P 500 all seeing gains. Real estate shares led the market, while communication services lagged. Crude oil inventories rose less than in the previous period, contrary to market expectations of a decline. Vivos Therapeutics' shares surged after FDA clearance for its sleep apnea treatment. Rover Group's stock spiked following the announcement of its acquisition by Blackstone. Fluence Energy's shares increased after reporting Q4 results and FY24 revenue guidance. BioVie, Seelos Therapeutics, and Farfetch saw significant share price drops due to negative trial results, a public offering, and a delay in financial results, respectively.

Portfolio Pulse from Lisa Levin

November 29, 2023 | 5:05 pm

William Blair analyst Ralph Schackart has downgraded Rover Group (NASDAQ:ROVR) from Outperform to Market Perform, indicating a change in the firm's outlook on the company's stock.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 3:55 pm

Rover Group, Inc. (ROVR) is set to be acquired by Blackstone Inc. (BX) for approximately $2.3 billion, with Rover stockholders receiving $11.00 per share, a 61% premium. The deal includes a 30-day 'go-shop' period and is expected to close in 1Q24. Rover will remain a private company under its existing brand post-acquisition. ROVR shares surged by 28.8% to $10.95, while BX shares rose by 3.00% to $110.87.

Portfolio Pulse from Akanksha Bakshi

November 29, 2023 | 3:46 pm

Blackstone (NYSE:BX) is set to acquire Rover Group (NASDAQ:ROVR) for $2.30 billion in cash, with the transaction expected to close in Q1 of 2024. Blackstone is a major asset manager with $1.001 trillion in assets under management, while Rover Group operates an online marketplace for pet care services.

Portfolio Pulse from Benzinga Insights

November 29, 2023 | 3:10 pm

Rover (ROVR) shares surged following the announcement of its acquisition by Blackstone in a deal valued at $2.3 billion.

Portfolio Pulse from Benzinga Newsdesk

November 29, 2023 | 2:25 pm

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