TriplePoint Venture Growth BDC (NYSE:TPVG) Price Target Raised to $8.00

TriplePoint Venture Growth BDC (NYSE:TPVG) had its target price hoisted by investment analysts at Piper Sandler from $7.50 to $8.00 in a research note issued on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the investment management company’s stock. Piper Sandler’s price target would suggest a potential upside of 2.76% from the stock’s previous close.

Several other equities analysts have also recently weighed in on TPVG. Keefe, Bruyette & Woods raised TriplePoint Venture Growth BDC from an “underperform” rating to a “market perform” rating and lowered their price target for the company from $8.00 to $7.50 in a report on Thursday, November 7th. StockNews.com upgraded TriplePoint Venture Growth BDC from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. Wells Fargo & Company upped their price objective on 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. Finally, Compass Point upped their price objective on TriplePoint Venture Growth BDC from $7.50 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday, December 5th. Seven research analysts have rated the stock with a hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $7.80.

TriplePoint Venture Growth BDC Stock Down 1.8 %

Shares of TPVG opened at $7.79 on Thursday. The business’s 50 day moving average price is $7.77 and its 200-day moving average price is $7.51. TriplePoint Venture Growth BDC has a 52 week low of $6.44 and a 52 week high of $11.01. The stock has a market cap of $311.78 million, a P/E ratio of 37.07 and a beta of 1.88.

TriplePoint Venture Growth BDC (NYSE:TPVG) last released its quarterly earnings data on Wednesday, March 5th. The investment management company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.03). The business had revenue of $25.75 million during the quarter, compared to the consensus estimate of $26.68 million. TriplePoint Venture Growth BDC had a net margin of 9.01% and a return on equity of 16.86%. On average, equities analysts anticipate that TriplePoint Venture Growth BDC will post 1.4 EPS for the current year.

Institutional Investors Weigh In On TriplePoint Venture Growth BDC

A number of institutional investors have recently bought and sold shares of TPVG. Two Sigma Investments LP raised its holdings in TriplePoint Venture Growth BDC by 21.9% during the fourth quarter. Two Sigma Investments LP now owns 678,034 shares of the investment management company’s stock valued at $5,004,000 after acquiring an additional 122,039 shares during the period. Jane Street Group LLC raised its holdings in TriplePoint Venture Growth BDC by 712.4% during the third quarter. Jane Street Group LLC now owns 104,997 shares of the investment management company’s stock valued at $741,000 after acquiring an additional 92,072 shares during the period. Millennium Management LLC increased its holdings in shares of TriplePoint Venture Growth BDC by 180.1% in the fourth quarter. Millennium Management LLC now owns 120,602 shares of the investment management company’s stock worth $890,000 after purchasing an additional 77,551 shares during the last quarter. Alpine Global Management LLC bought a new stake in shares of TriplePoint Venture Growth BDC in the fourth quarter worth about $477,000. Finally, Trexquant Investment LP increased its holdings in shares of TriplePoint Venture Growth BDC by 35.5% in the fourth quarter. Trexquant Investment LP now owns 227,039 shares of the investment management company’s stock worth $1,676,000 after purchasing an additional 59,462 shares during the last quarter. 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.