Runway Growth Finance (NASDAQ:RWAY) Price Target Raised to $12.00

Key Points

• B. Riley raised its target price for Runway Growth Finance (RWAY) stock from $11.00 to $12.00, indicating a potential upside of 9.29% based on the stock's previous closing price.
• The stock currently holds a consensus rating of "Moderate Buy" with various analysts providing differing ratings and price targets between $9.00 and $12.50.
• Runway Growth Finance reported an EPS of $0.38 for the last quarter, missing the consensus estimate, while achieving revenue of $35.15 million, exceeding expectations.

Runway Growth Finance (NASDAQ:RWAY - Get Free Report) had its price objective raised by equities researchers at B. Riley from $11.00 to $12.00 in a research report issued on Monday,Benzinga reports. The firm currently has a "buy" rating on the stock. B. Riley's price target suggests a potential upside of 9.69% from the stock's current price. B. Riley also issued estimates for Runway Growth Finance's FY2026 earnings at $1.54 EPS.

Several other equities research analysts have also recently issued reports on the company. Wells Fargo & Company reiterated an "equal weight" rating and issued a $9.50 price target (down from $10.00) on shares of Runway Growth Finance in a research note on Wednesday, May 28th. UBS Group reiterated a "buy" rating and issued a $12.50 price target (up from $11.50) on shares of Runway Growth Finance in a research note on Wednesday, July 16th. Finally, JPMorgan Chase & Co. cut their price target on Runway Growth Finance from $10.50 to $9.00 and set a "neutral" rating for the company in a research note on Thursday, April 24th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Runway Growth Finance currently has an average rating of "Moderate Buy" and an average price target of $11.00.

Runway Growth Finance Trading Down 1.1%

NASDAQ RWAY traded down $0.12 during trading on Monday, reaching $10.94. 211,140 shares of the stock traded hands, compared to its average volume of 321,224. Runway Growth Finance has a fifty-two week low of $8.35 and a fifty-two week high of $11.73. The stock's 50-day moving average price is $10.68 and its 200 day moving average price is $10.42. The firm has a market cap of $396.21 million, a price-to-earnings ratio of 5.76 and a beta of 0.70. The company has a quick ratio of 0.59, a current ratio of 0.59 and a debt-to-equity ratio of 1.03.

Runway Growth Finance (NASDAQ:RWAY - Get Free Report) last released its quarterly earnings results on Thursday, August 7th. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.39 by ($0.01). Runway Growth Finance had a net margin of 51.03% and a return on equity of 11.86%. The firm had revenue of $35.15 million during the quarter, compared to analyst estimates of $34.27 million. Analysts predict that Runway Growth Finance will post 1.67 EPS for the current year.

Institutional Trading of Runway Growth Finance

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Allium Financial Advisors LLC acquired a new stake in Runway Growth Finance during the 1st quarter worth about $10,568,000. CF Capital LLC acquired a new stake in Runway Growth Finance during the 4th quarter worth about $9,290,000. Bulldog Investors LLP grew its holdings in Runway Growth Finance by 143.5% during the 4th quarter. Bulldog Investors LLP now owns 802,390 shares of the company's stock worth $8,802,000 after acquiring an additional 472,799 shares during the period. Cambridge Investment Research Advisors Inc. acquired a new stake in Runway Growth Finance during the 1st quarter worth about $4,551,000. Finally, Alpine Global Management LLC grew its holdings in Runway Growth Finance by 76.3% during the 4th quarter. Alpine Global Management LLC now owns 920,874 shares of the company's stock worth $10,093,000 after acquiring an additional 398,547 shares during the period. 64.61% of the stock is currently owned by institutional investors and hedge funds.

About Runway Growth Finance

Runway Growth Finance Corp. is a business development company specializing investments in senior-secured loans to late stage and growth companies. It prefers to make investments in companies engaged in the technology, life sciences, healthcare and information services, business services and select consumer services and products sectors.