TriplePoint Venture Growth BDC (NYSE:TPVG) Stock Price Expected to Rise, Piper Sandler Analyst Says

TriplePoint Venture Growth BDC (NYSE:TPVG) had its price target hoisted by analysts at Piper Sandler from $7.50 to $8.00 in a research report issued on Thursday,Benzinga reports. The firm presently has a “neutral” rating on the investment management company’s stock. Piper Sandler’s price objective suggests a potential upside of 5.26% from the company’s current price.

Other equities analysts also recently issued reports about the stock. StockNews.com upgraded shares of TriplePoint Venture Growth BDC from a “sell” rating to a “hold” rating in a report on Friday, November 15th. Compass Point boosted their target price on shares of TriplePoint Venture Growth BDC from $7.50 to $8.00 and gave the stock a “neutral” rating in a report on Thursday, December 5th. Keefe, Bruyette & Woods upgraded shares of TriplePoint Venture Growth BDC from an “underperform” rating to a “market perform” rating and reduced their target price for the stock from $8.00 to $7.50 in a report on Thursday, November 7th. Finally, Wells Fargo & Company boosted 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. Six investment analysts have rated the stock with a hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $7.80.

TriplePoint Venture Growth BDC Price Performance

TPVG stock opened at $7.60 on Thursday. The business has a 50-day moving average price of $7.77 and a 200 day moving average price of $7.50. The company has a market capitalization of $304.37 million, a P/E ratio of 36.19 and a beta of 1.88. TriplePoint Venture Growth BDC has a 1-year low of $6.44 and a 1-year high of $10.09.

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

Hedge Funds Weigh In On TriplePoint Venture Growth BDC

Several hedge funds have recently modified their holdings of the stock. Alpine Global Management LLC acquired a new position in shares of TriplePoint Venture Growth BDC during the fourth quarter valued at about $477,000. PharVision Advisers LLC acquired a new position in shares of TriplePoint Venture Growth BDC during the fourth quarter valued at about $84,000. Two Sigma Advisers LP boosted its position in TriplePoint Venture Growth BDC by 6.5% in the fourth quarter. Two Sigma Advisers LP now owns 830,492 shares of the investment management company’s stock valued at $6,129,000 after buying an additional 50,800 shares during the last quarter. Two Sigma Investments LP boosted its position in TriplePoint Venture Growth BDC by 21.9% in 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 buying an additional 122,039 shares during the last quarter. Finally, Millennium Management LLC boosted its position in 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 valued at $890,000 after buying an additional 77,551 shares during the last quarter. Institutional investors and hedge funds 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.