TriplePoint Venture Growth BDC (NYSE:TPVG) Price Target Raised to $7.50 at Wells Fargo & Company

TriplePoint Venture Growth BDC (NYSE:TPVG - Get Free Report) had its price target boosted by research analysts at Wells Fargo & Company from $6.50 to $7.50 in a research note issued to investors on Tuesday,Benzinga reports. The firm presently has an "equal weight" rating on the investment management company's stock. Wells Fargo & Company's target price would indicate a potential downside of 6.13% from the company's previous close.

Other analysts have also issued reports about the company. Piper Sandler cut their price target on TriplePoint Venture Growth BDC from $8.00 to $7.50 and set a "neutral" rating on the stock in a research note on Thursday, November 7th. Keefe, Bruyette & Woods upgraded TriplePoint Venture Growth BDC from an "underperform" rating to a "market perform" rating and lowered their target price for the stock from $8.00 to $7.50 in a report on Thursday, November 7th. LADENBURG THALM/SH SH downgraded TriplePoint Venture Growth BDC from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $8.50 to $8.00 in a report on Friday, August 9th. Finally, StockNews.com upgraded TriplePoint Venture Growth BDC from a "sell" rating to a "hold" rating in a report on Friday. Seven investment analysts have rated the stock with a hold rating, According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $7.85.

TriplePoint Venture Growth BDC Stock Performance

TriplePoint Venture Growth BDC stock remained flat at $7.99 during mid-day trading on Tuesday. The company's stock had a trading volume of 194,224 shares, compared to its average volume of 359,237. The stock has a market capitalization of $320.00 million, a PE ratio of 37.95 and a beta of 1.80. The company has a fifty day moving average of $7.04 and a 200 day moving average of $7.97. TriplePoint Venture Growth BDC has a fifty-two week low of $6.44 and a fifty-two week high of $11.58.

TriplePoint Venture Growth BDC (NYSE:TPVG - Get Free Report) last issued its quarterly earnings results on Wednesday, November 6th. The investment management company reported $0.35 EPS for the quarter, topping analysts' consensus estimates of $0.34 by $0.01. TriplePoint Venture Growth BDC had a return on equity of 16.86% and a net margin of 9.01%. The company had revenue of $26.52 million for the quarter, compared to analysts' expectations of $25.65 million. During the same quarter last year, the business earned $0.54 earnings per share. Equities research analysts forecast that TriplePoint Venture Growth BDC will post 1.4 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Quarry LP purchased a new position in TriplePoint Venture Growth BDC in the second quarter worth $35,000. EverSource Wealth Advisors LLC purchased a new position in shares of TriplePoint Venture Growth BDC during the 2nd quarter valued at $62,000. McIlrath & Eck LLC purchased a new position in shares of TriplePoint Venture Growth BDC during the 3rd quarter valued at $51,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of TriplePoint Venture Growth BDC during the 3rd quarter valued at $83,000. Finally, Diversify Wealth Management LLC purchased a new position in shares of TriplePoint Venture Growth BDC during the 3rd quarter valued at $82,000. Hedge funds and other institutional investors own 12.77% of the company's stock.

TriplePoint Venture Growth BDC Company Profile

TriplePoint Venture Growth BDC Corp. is a business development company specializing investments in venture capital-backed companies at the growth stage investments. It also provides debt financing to venture growth space companies which includes growth capital loans, secured and customized loans, equipment financings, revolving loans and direct equity investments.