Wells Fargo & Company Boosts TriplePoint Venture Growth BDC (NYSE:TPVG) Price Target to $18.00

TriplePoint Venture Growth BDC (NYSE:TPVGGet Rating) had its price objective raised by Wells Fargo & Company from $17.50 to $18.00 in a report released on Monday, Benzinga reports. The firm currently has an “overweight” rating on the investment management company’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 6.70% from the company’s current price.

Several other equities analysts also recently weighed in on the stock. StockNews.com started coverage on shares of TriplePoint Venture Growth BDC in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Zacks Investment Research downgraded shares of TriplePoint Venture Growth BDC from a “buy” rating to a “hold” rating in a research note on Thursday, April 7th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $17.75.

NYSE TPVG opened at $16.87 on Monday. TriplePoint Venture Growth BDC has a 52-week low of $14.11 and a 52-week high of $19.25. The company has a 50-day simple moving average of $17.03 and a 200 day simple moving average of $17.28. The company has a market capitalization of $523.16 million, a PE ratio of 6.80, a price-to-earnings-growth ratio of 2.88 and a beta of 1.77.

TriplePoint Venture Growth BDC (NYSE:TPVGGet Rating) last posted its quarterly earnings data on Wednesday, March 2nd. The investment management company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.07. TriplePoint Venture Growth BDC had a net margin of 87.60% and a return on equity of 9.84%. The business had revenue of $25.87 million during the quarter, compared to the consensus estimate of $23.46 million. During the same quarter last year, the company posted $0.39 earnings per share. On average, research analysts predict that TriplePoint Venture Growth BDC will post 1.5 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in TPVG. Morgan Stanley lifted its holdings in shares of TriplePoint Venture Growth BDC by 2.0% in the 2nd quarter. Morgan Stanley now owns 202,319 shares of the investment management company’s stock worth $3,074,000 after acquiring an additional 3,983 shares during the last quarter. Commonwealth Equity Services LLC lifted its holdings in shares of TriplePoint Venture Growth BDC by 12.2% in the 3rd quarter. Commonwealth Equity Services LLC now owns 15,176 shares of the investment management company’s stock worth $240,000 after acquiring an additional 1,656 shares during the last quarter. Raymond James & Associates increased its stake in shares of TriplePoint Venture Growth BDC by 39.6% in the third quarter. Raymond James & Associates now owns 20,954 shares of the investment management company’s stock worth $332,000 after buying an additional 5,942 shares during the period. Kovack Advisors Inc. increased its stake in shares of TriplePoint Venture Growth BDC by 8.0% in the third quarter. Kovack Advisors Inc. now owns 16,950 shares of the investment management company’s stock worth $268,000 after buying an additional 1,250 shares during the period. Finally, Moors & Cabot Inc. purchased a new position in shares of TriplePoint Venture Growth BDC in the third quarter worth $153,000. Hedge funds and other institutional investors own 24.94% of the company’s stock.

TriplePoint Venture Growth BDC Company Profile (Get Rating)

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.

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