Blue Owl Technology Finance (NYSE:OTF) Stock Price Target Cut by Wells Fargo & Company

Key Points

• Wells Fargo cut its price target on Blue Owl Technology Finance from $12 to $11, while maintaining an “overweight” rating. The new target implies 18.15% upside from the stock’s current price.
• Analyst sentiment remains moderately positive: MarketBeat reports a “Moderate Buy” consensus and an average price target of $13.40, with four Buy and three Hold ratings.
• The stock fell 2.3% and opened at $9.31 on Friday. Its latest quarterly EPS of $0.29 missed analysts’ $0.32 consensus estimate.

Blue Owl Technology Finance (NYSE:OTF - Get Free Report) had its price objective cut by Wells Fargo & Company from $12.00 to $11.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has an "overweight" rating on the stock. Wells Fargo & Company's price objective would suggest a potential upside of 18.15% from the company's current price.

A number of other equities research analysts have also issued reports on OTF. Citigroup reiterated an "outperform" rating on shares of Blue Owl Technology Finance in a research note on Friday, August 7th. Citizens Jmp upped their price objective on Blue Owl Technology Finance from $16.00 to $17.00 and gave the stock a "market outperform" rating in a research note on Friday, August 7th. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and set a $12.00 target price on shares of Blue Owl Technology Finance in a research report on Monday, August 17th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Blue Owl Technology Finance currently has a consensus rating of "Moderate Buy" and an average price target of $13.40.

Blue Owl Technology Finance Trading Down 2.3%

NYSE OTF opened at $9.31 on Friday. Blue Owl Technology Finance has a 12 month low of $8.76 and a 12 month high of $15.00. The stock has a market cap of $4.27 billion, a price-to-earnings ratio of 12.03 and a beta of -0.54. The company's 50 day moving average is $10.04 and its two-hundred day moving average is $11.08.

Blue Owl Technology Finance (NYSE:OTF - Get Free Report) last posted its quarterly earnings results on Wednesday, November 4th. The company reported $0.29 earnings per share for the quarter, missing analysts' consensus estimates of $0.32 by ($0.03). The firm had revenue of $341.29 million during the quarter. Blue Owl Technology Finance had a return on equity of 7.02% and a net margin of 27.11%. During the same period in the prior year, the firm posted $0.32 EPS. Sell-side analysts forecast that Blue Owl Technology Finance will post 1.25 EPS for the current year.

Institutional Trading of Blue Owl Technology Finance

Several hedge funds have recently bought and sold shares of OTF. California State Teachers Retirement System purchased a new position in shares of Blue Owl Technology Finance in the first quarter valued at $250,556,000. State of New Jersey Common Pension Fund A bought a new stake in Blue Owl Technology Finance in the third quarter worth $41,267,000. Laura & John Arnold Foundation purchased a new stake in Blue Owl Technology Finance during the second quarter valued at $12,420,000. Wellington Management Group LLP purchased a new stake in Blue Owl Technology Finance during the second quarter valued at $11,666,000. Finally, Requisite Capital Management LLC raised its stake in Blue Owl Technology Finance by 50.8% during the second quarter. Requisite Capital Management LLC now owns 1,885,709 shares of the company's stock valued at $20,267,000 after purchasing an additional 635,531 shares in the last quarter.

About Blue Owl Technology Finance

Blue Owl Technology Finance NYSE: OTF is a business development company that provides financing to technology-related businesses. The company primarily invests in senior secured loans and other debt investments, with a focus on companies operating in technology and technology-enabled industries.

Its portfolio may also include subordinated debt, equity investments and other securities, allowing it to support businesses at various stages of development. Blue Owl Technology Finance generally works with private, middle-market companies seeking capital for growth, acquisitions, recapitalizations and other corporate purposes.

The company is externally managed by an affiliate of Blue Owl Capital, an alternative asset manager.

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