Compass Point Forecasts Strong Price Appreciation for TriplePoint Venture Growth BDC (NYSE:TPVG) Stock

TriplePoint Venture Growth BDC (NYSE:TPVG) had its target price boosted by investment analysts at Compass Point from $7.50 to $8.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has a “neutral” rating on the investment management company’s stock. Compass Point’s price target would indicate a potential downside of 3.15% from the company’s previous close.

A number of other research analysts have also commented on TPVG. LADENBURG THALM/SH SH lowered 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. Keefe, Bruyette & Woods upgraded shares of TriplePoint Venture Growth BDC from an “underperform” rating to a “market perform” rating and decreased their price target for the company from $8.00 to $7.50 in a research note on Thursday, November 7th. 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. Piper Sandler cut their price objective on shares of TriplePoint Venture Growth BDC from $8.00 to $7.50 and set a “neutral” rating for the company in a report on Thursday, November 7th. Finally, Wells Fargo & Company raised their target price on shares of TriplePoint Venture Growth BDC from $6.50 to $7.50 and gave the stock an “equal weight” rating in a report on Tuesday, November 19th. Seven research analysts have rated the stock with a hold rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $7.70.

TriplePoint Venture Growth BDC Stock Performance

Shares of TPVG stock opened at $8.26 on Thursday. TriplePoint Venture Growth BDC has a 52-week low of $6.44 and a 52-week high of $11.58. The stock has a market cap of $330.81 million, a price-to-earnings ratio of 39.34 and a beta of 1.87. The firm’s 50-day moving average is $7.33 and its 200-day moving average is $7.88.

TriplePoint Venture Growth BDC (NYSE:TPVG) last released its quarterly earnings results on Wednesday, November 6th. The investment management company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.01. TriplePoint Venture Growth BDC had a net margin of 9.01% and a return on equity of 16.86%. The firm had revenue of $26.52 million for the quarter, compared to analysts’ expectations of $25.65 million. During the same period in the prior year, the firm earned $0.54 EPS. Sell-side analysts predict that TriplePoint Venture Growth BDC will post 1.4 EPS for the current fiscal year.

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

Several hedge funds and other institutional investors have recently modified their holdings of TPVG. Quarry LP bought a new stake in shares of TriplePoint Venture Growth BDC during the second quarter worth $35,000. EverSource Wealth Advisors LLC bought a new stake in TriplePoint Venture Growth BDC during the 2nd quarter worth approximately $62,000. McIlrath & Eck LLC acquired a new position in TriplePoint Venture Growth BDC in the 3rd quarter valued at approximately $51,000. Dynamic Technology Lab Private Ltd bought a new position in shares of TriplePoint Venture Growth BDC during the third quarter valued at $83,000. Finally, Diversify Wealth Management LLC acquired a new position in shares of TriplePoint Venture Growth BDC during the third quarter worth $82,000. Institutional investors own 12.77% of the company’s stock.

About TriplePoint Venture Growth BDC

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.