Hamilton Lane (NASDAQ:HLNE) Now Covered by Wells Fargo & Company

Key Points

• Wells Fargo initiated coverage of Hamilton Lane with an “overweight” rating and a $103 price target, implying 18.34% potential upside from the cited share price.
• Analyst sentiment is broadly positive: Hamilton Lane has a consensus “Buy” rating and an average price target of $126.62, based on two Strong Buy, six Buy and two Hold ratings.
• Hamilton Lane reported strong quarterly results, with EPS of $1.94 versus $1.53 expected and revenue of $275.33 million, up 56.5% year over year; institutional investors own 97.4% of the company.

Research analysts at Wells Fargo & Company started coverage on shares of Hamilton Lane (NASDAQ:HLNE - Get Free Report) in a note issued to investors on Friday, MarketBeat reports. The firm set an "overweight" rating and a $103.00 price target on the stock. Wells Fargo & Company's price objective would suggest a potential upside of 18.34% from the stock's current price.

Other analysts also recently issued reports about the company. Zacks Research upgraded Hamilton Lane from a "hold" rating to a "strong-buy" rating in a research note on Friday, August 7th. Morgan Stanley decreased their target price on shares of Hamilton Lane from $141.00 to $123.00 and set an "equal weight" rating on the stock in a research report on Tuesday, July 21st. Oppenheimer lowered their price target on shares of Hamilton Lane from $182.00 to $181.00 and set an "outperform" rating on the stock in a research note on Thursday, August 27th. BMO Capital Markets set a $94.00 price objective on shares of Hamilton Lane in a research note on Monday, July 13th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Hamilton Lane from $105.00 to $116.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 5th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Hamilton Lane presently has a consensus rating of "Buy" and an average target price of $126.62.

Hamilton Lane Stock Performance

Shares of Hamilton Lane stock opened at $87.04 on Friday. Hamilton Lane has a 12 month low of $71.88 and a 12 month high of $155.66. The company has a debt-to-equity ratio of 0.16, a current ratio of 3.49 and a quick ratio of 3.49. The stock has a market capitalization of $4.83 billion, a price-to-earnings ratio of 13.27 and a beta of 1.23. The firm's fifty day simple moving average is $96.90 and its 200-day simple moving average is $91.68.

Hamilton Lane (NASDAQ:HLNE - Get Free Report) last announced its earnings results on Tuesday, August 4th. The company reported $1.94 EPS for the quarter, beating analysts' consensus estimates of $1.53 by $0.41. Hamilton Lane had a net margin of 32.14% and a return on equity of 25.10%. The business had revenue of $275.33 million during the quarter, compared to analysts' expectations of $221.94 million. During the same period in the prior year, the company earned $1.47 earnings per share. The business's revenue was up 56.5% compared to the same quarter last year. As a group, equities analysts forecast that Hamilton Lane will post 7.25 earnings per share for the current year.

Hedge Funds Weigh In On Hamilton Lane

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. IFP Advisors Inc increased its position in Hamilton Lane by 332.0% during the 2nd quarter. IFP Advisors Inc now owns 419 shares of the company's stock worth $33,000 after purchasing an additional 322 shares in the last quarter. Harbor Investment Advisory LLC acquired a new position in Hamilton Lane in the second quarter valued at $58,000. Blue Trust Inc. acquired a new stake in Hamilton Lane in the 1st quarter worth about $75,000. Allworth Financial LP grew its holdings in Hamilton Lane by 592.9% in the 2nd quarter. Allworth Financial LP now owns 1,171 shares of the company's stock valued at $92,000 after buying an additional 1,002 shares during the period. Finally, International Assets Investment Management LLC increased its position in Hamilton Lane by 29.5% during the first quarter. International Assets Investment Management LLC now owns 1,503 shares of the company's stock worth $146,000 after purchasing an additional 342 shares during the last quarter. Institutional investors and hedge funds own 97.40% of the company's stock.

About Hamilton Lane

Hamilton Lane Incorporated NASDAQ: HLNE is a global investment management firm focused on private markets. The company provides investment solutions and advisory services to institutional investors, family offices, financial intermediaries and private wealth clients seeking exposure to alternative investments.

Its offerings include customized separate accounts, commingled funds, evergreen funds, secondary investments, direct and co-investments, and other private-market strategies. Hamilton Lane also provides portfolio management, investment research, due diligence, monitoring, reporting and data-driven technology designed to help clients evaluate and manage private-market portfolios.

Founded in 1991, Hamilton Lane serves clients across North America, Europe, Asia-Pacific and other international markets through a global network of offices.