Piper Sandler Raises TriplePoint Venture Growth BDC (NYSE:TPVG) Price Target to $8.00

TriplePoint Venture Growth BDC (NYSE:TPVG - Get Free Report) had its price objective raised by equities researchers at Piper Sandler from $7.50 to $8.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a "neutral" rating on the investment management company's stock. Piper Sandler's price objective points to a potential upside of 5.26% from the company's previous close.

Other equities analysts have also recently issued reports about the stock. Wells Fargo & Company lifted their price target on shares of TriplePoint Venture Growth BDC from $6.50 to $7.50 and gave the stock an "equal weight" rating in a research note on Tuesday, November 19th. Compass Point boosted their price objective on shares of TriplePoint Venture Growth BDC from $7.50 to $8.00 and gave the company a "neutral" rating in a research report on Thursday, December 5th. Keefe, Bruyette & Woods raised shares of TriplePoint Venture Growth BDC from an "underperform" rating to a "market perform" rating and lowered their price objective for the company from $8.00 to $7.50 in a research report on Thursday, November 7th. Finally, StockNews.com raised shares of TriplePoint Venture Growth BDC from a "sell" rating to a "hold" rating in a research report on Friday, November 15th. Six research analysts have rated the stock with a hold rating, Based on data from MarketBeat, TriplePoint Venture Growth BDC has an average rating of "Hold" and an average target price of $7.80.

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TriplePoint Venture Growth BDC Trading Up 3.7 %

Shares of TPVG stock traded up $0.27 during trading hours on Thursday, reaching $7.60. 353,236 shares of the stock were exchanged, compared to its average volume of 382,665. TriplePoint Venture Growth BDC has a 12-month low of $6.44 and a 12-month high of $10.09. The company's 50-day moving average price is $7.77 and its 200-day moving average price is $7.50. The firm has a market capitalization of $304.37 million, a price-to-earnings ratio of 36.19 and a beta of 1.90.

TriplePoint Venture Growth BDC (NYSE:TPVG - Get Free Report) last released its quarterly earnings results on Wednesday, March 5th. The investment management company reported $0.32 EPS for the quarter, missing analysts' consensus estimates of $0.35 by ($0.03). TriplePoint Venture Growth BDC had a return on equity of 16.86% and a net margin of 9.01%. The firm had revenue of $25.75 million for the quarter, compared to analysts' expectations of $26.68 million. On average, sell-side analysts expect that TriplePoint Venture Growth BDC will post 1.4 EPS for the current year.

Institutional Investors Weigh In On TriplePoint Venture Growth BDC

Hedge funds have recently modified their holdings of the business. Summit Securities Group LLC purchased a new stake in shares of TriplePoint Venture Growth BDC in the 4th quarter worth approximately $41,000. McIlrath & Eck LLC purchased a new stake in shares of TriplePoint Venture Growth BDC in the 3rd quarter worth approximately $51,000. EverSource Wealth Advisors LLC lifted its position in shares of TriplePoint Venture Growth BDC by 25.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 10,000 shares of the investment management company's stock worth $74,000 after purchasing an additional 2,000 shares during the period. Avenir Corp purchased a new stake in shares of TriplePoint Venture Growth BDC in the 4th quarter worth approximately $74,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of TriplePoint Venture Growth BDC in the 3rd quarter worth approximately $83,000. 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.