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

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

Other research analysts also recently issued research reports about the stock. Wells Fargo & Company upped their price objective on shares of TriplePoint Venture Growth BDC from $6.50 to $7.50 and gave the company an “equal weight” rating in a research note on Tuesday, November 19th. LADENBURG THALM/SH SH downgraded shares of TriplePoint Venture Growth BDC from a “buy” rating to a “neutral” rating and cut their price target for the stock from $8.50 to $8.00 in a research note on Friday, August 9th. Piper Sandler dropped their target price on shares of TriplePoint Venture Growth BDC from $8.00 to $7.50 and set a “neutral” rating for the company in a research report 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 company from $8.00 to $7.50 in a research note on Thursday, November 7th. Finally, StockNews.com upgraded TriplePoint Venture Growth BDC from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. Seven analysts have rated the stock with a hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $7.70.

TriplePoint Venture Growth BDC Stock Performance

TriplePoint Venture Growth BDC stock opened at $8.26 on Thursday. TriplePoint Venture Growth BDC has a one year low of $6.44 and a one year high of $11.58. The company has a market cap of $330.81 million, a P/E ratio of 39.34 and a beta of 1.87. The business has a fifty day moving average of $7.33 and a two-hundred day moving average of $7.88.

TriplePoint Venture Growth BDC (NYSE:TPVG) last released its earnings results on Wednesday, November 6th. The investment management company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.01. The company had revenue of $26.52 million for the quarter, compared to analyst estimates of $25.65 million. TriplePoint Venture Growth BDC had a net margin of 9.01% and a return on equity of 16.86%. 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 year.

Institutional Investors Weigh In On TriplePoint Venture Growth BDC

Several institutional investors and hedge funds have recently bought and sold shares of the business. Millennium Management LLC increased its holdings in shares of TriplePoint Venture Growth BDC by 169.5% in the second quarter. Millennium Management LLC now owns 432,206 shares of the investment management company’s stock valued at $3,471,000 after purchasing an additional 271,824 shares in the last quarter. Marshall Wace LLP bought a new position in shares of TriplePoint Venture Growth BDC during the second quarter worth $1,486,000. Van ECK Associates Corp grew its holdings in shares of TriplePoint Venture Growth BDC by 16.4% in the 2nd quarter. Van ECK Associates Corp now owns 846,716 shares of the investment management company’s stock valued at $6,799,000 after buying an additional 119,184 shares during the period. Jane Street Group LLC lifted 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 worth $741,000 after acquiring an additional 92,072 shares in the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in TriplePoint Venture Growth BDC by 435.6% during the third quarter. International Assets Investment Management LLC now owns 107,630 shares of the investment management company’s stock worth $760,000 after acquiring an additional 87,535 shares in the last quarter. 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.