Virtu Financial (NASDAQ:VIRT) Stock Price Expected to Rise, Piper Sandler Analyst Says

Virtu Financial (NASDAQ:VIRT) had its price objective increased by research analysts at Piper Sandler from $35.00 to $40.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s target price would suggest a potential upside of 8.14% from the company’s current price.

Several other analysts also recently weighed in on the company. Citigroup raised their target price on Virtu Financial from $32.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Morgan Stanley raised their price objective on Virtu Financial from $23.00 to $25.00 and gave the company an “equal weight” rating in a research note on Thursday, October 17th. Bank of America cut their target price on Virtu Financial from $37.00 to $35.00 and set a “buy” rating on the stock in a research report on Thursday, October 3rd. Finally, The Goldman Sachs Group raised their price target on Virtu Financial from $26.00 to $29.00 and gave the stock a “neutral” rating in a report on Monday, September 30th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $30.21.

Virtu Financial Stock Performance

Shares of NASDAQ:VIRT opened at $36.99 on Tuesday. The business’s 50-day simple moving average is $35.78 and its 200 day simple moving average is $31.36. The company has a market cap of $5.72 billion, a P/E ratio of 18.59, a PEG ratio of 0.49 and a beta of 0.45. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.47 and a current ratio of 0.47. Virtu Financial has a one year low of $16.02 and a one year high of $38.45.

Virtu Financial (NASDAQ:VIRT) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.03. The company had revenue of $388.00 million for the quarter, compared to analyst estimates of $379.18 million. Virtu Financial had a net margin of 7.29% and a return on equity of 23.22%. The business’s quarterly revenue was up 30.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.40 earnings per share. On average, sell-side analysts forecast that Virtu Financial will post 2.71 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Virtu Financial

Institutional investors have recently added to or reduced their stakes in the company. USA Financial Formulas bought a new position in shares of Virtu Financial in the third quarter valued at $33,000. Abich Financial Wealth Management LLC increased its holdings in Virtu Financial by 22.2% in the second quarter. Abich Financial Wealth Management LLC now owns 2,680 shares of the financial services provider’s stock worth $60,000 after buying an additional 487 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Virtu Financial by 149.0% during the 3rd quarter. GAMMA Investing LLC now owns 2,410 shares of the financial services provider’s stock valued at $73,000 after purchasing an additional 1,442 shares in the last quarter. KBC Group NV boosted its stake in shares of Virtu Financial by 42.9% during the 3rd quarter. KBC Group NV now owns 2,864 shares of the financial services provider’s stock worth $87,000 after acquiring an additional 860 shares in the last quarter. Finally, Quarry LP increased its holdings in shares of Virtu Financial by 129.1% during the 2nd quarter. Quarry LP now owns 6,130 shares of the financial services provider’s stock valued at $138,000 after acquiring an additional 3,454 shares during the last quarter. 45.78% of the stock is currently owned by institutional investors and hedge funds.

Virtu Financial Company Profile

Virtu Financial, Inc operates as a financial services company in the United States, Asia Pacific, Canada, EMEA, Ireland, and internationally. The company operates through two segments, Market Making and Execution Services. Its product includes offerings in execution, liquidity sourcing, analytics and broker-neutral, capital markets, and multi-dealer platforms in workflow technology.