Reformation (NYSE:REF) Trading 6.7% Higher Following Earnings Beat

Posted by Doug Wharley on Sep 11th, 2026

Shares of Reformation Inc. (NYSE:REF – Get Free Report) were up 6.7% during trading on Friday following a better than expected earnings announcement. The company traded as high as $14.15 and last traded at $14.03. 79,691 shares were traded during trading, a decline of 81% from the average daily volume of 415,456 shares. The stock had previously closed at $13.15.

The company reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. The company had revenue of $155.23 million for the quarter, compared to the consensus estimate of $154.61 million. The company’s revenue for the quarter was up 24.1% on a year-over-year basis.

Trending Headlines about Reformation

Here are the key news stories impacting Reformation this week:

Positive Sentiment: Guggenheim reaffirmed its “Buy” rating and set a $20.00 price target, implying substantial upside from the stock’s recent level. Guggenheim price target report
Positive Sentiment: Q2 earnings exceeded expectations: Reformation reported adjusted earnings of $0.23 per share versus the $0.20 consensus estimate, while revenue of $155.23 million slightly topped forecasts of $154.61 million. Revenue increased 24.1% year over year. Reformation Q2 earnings report
Positive Sentiment: Profitability improved sharply: Net income rose 79.4%, and adjusted EBITDA margin expanded by 320 basis points to 16.4%, supporting the investment case for continued operating leverage. Reformation second-quarter results
Positive Sentiment: Fiscal 2026 revenue guidance was raised or maintained above expectations at $602 million to $606 million, compared with the $601.3 million analyst consensus. Management’s upbeat outlook and double-digit growth were highlighted during the earnings call. Reformation outlook report
Neutral Sentiment: Short interest increased significantly to 2.20 million shares as of August 31, up 150.2% from mid-August and equal to about 3.7% of shares outstanding. The elevated short positioning may increase volatility and create short-squeeze potential, but it also signals greater bearish positioning.

Wall Street Analyst Weigh In

REF has been the topic of several analyst reports. Telsey Advisory Group initiated coverage on shares of Reformation in a research report on Monday, August 24th. They set an “outperform” rating and a $20.00 target price for the company. BTIG Research reissued a “buy” rating on shares of Reformation in a research note on Friday. Wall Street Zen upgraded shares of Reformation to a “hold” rating in a report on Saturday, August 8th. JPMorgan Chase & Co. initiated coverage on Reformation in a research report on Monday, August 24th. They issued an “overweight” rating and a $21.00 price target for the company. Finally, Citigroup began coverage on shares of Reformation in a research note on Monday, August 24th. They issued a “buy” rating and a $20.00 price objective for the company. Eight analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, Reformation has an average rating of “Moderate Buy” and a consensus price target of $19.25.

Check Out Our Latest Research Report on Reformation

Insider Buying and Selling

In other Reformation news, major shareholder Scsp Refo sold 149,596 shares of the company’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $13.95, for a total transaction of $2,086,864.20. Following the completion of the sale, the insider directly owned 28,942,153 shares in the company, valued at $403,743,034.35. This represents a 0.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Yael Aflalo sold 60,298 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $13.95, for a total transaction of $841,157.10. Following the completion of the transaction, the director owned 11,665,505 shares in the company, valued at $162,733,794.75. This represents a 0.51% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 4,401,122 shares of company stock worth $61,395,652 over the last ninety days.