Bank of America Increases Victory Capital (NASDAQ:VCTR) Price Target to $84.00

Key Points

• Bank of America raised its price target for Victory Capital from $83.00 to $84.00, indicating a potential upside of 31.51% from the current stock price and maintaining a "buy" rating.
• Victory Capital has shown strong financial performance, reporting a 59.9% year-over-year revenue increase and earnings per share of $1.57, exceeding estimates.
• Consensus among analysts is generally positive, with five analysts rating the stock as a Buy and a current average price target set at $73.78.

Victory Capital (NASDAQ:VCTR - Get Free Report) had its target price lifted by stock analysts at Bank of America from $83.00 to $84.00 in a report issued on Thursday,Benzinga reports. The firm presently has a "buy" rating on the stock. Bank of America's price objective suggests a potential upside of 31.51% from the stock's current price.

A number of other analysts also recently commented on the stock. Morgan Stanley boosted their target price on shares of Victory Capital from $66.00 to $67.00 and gave the stock an "equal weight" rating in a report on Monday, August 18th. The Goldman Sachs Group reiterated a "buy" rating and issued a $76.00 target price on shares of Victory Capital in a report on Tuesday, September 23rd. Barclays boosted their target price on shares of Victory Capital from $62.00 to $68.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 16th. Finally, B. Riley boosted their target price on shares of Victory Capital from $74.00 to $82.00 and gave the stock a "buy" rating in a report on Friday, August 22nd. Five equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $73.78.

Victory Capital Price Performance

VCTR traded up $1.30 on Thursday, reaching $63.87. The company had a trading volume of 335,455 shares, compared to its average volume of 465,023. The company has a fifty day moving average of $69.36 and a 200-day moving average of $63.95. The company has a market capitalization of $4.27 billion, a P/E ratio of 15.77, a PEG ratio of 0.69 and a beta of 1.07. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 0.39. Victory Capital has a one year low of $47.00 and a one year high of $73.42.

Victory Capital (NASDAQ:VCTR - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported $1.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.47 by $0.10. Victory Capital had a net margin of 27.18% and a return on equity of 26.46%. The firm had revenue of $351.21 million during the quarter, compared to analyst estimates of $348.89 million. During the same quarter in the prior year, the firm posted $1.31 EPS. Victory Capital's revenue was up 59.9% compared to the same quarter last year. As a group, equities research analysts anticipate that Victory Capital will post 6.16 earnings per share for the current year.

Institutional Investors Weigh In On Victory Capital

Large investors have recently made changes to their positions in the company. Nisa Investment Advisors LLC boosted its holdings in shares of Victory Capital by 2,131.6% during the second quarter. Nisa Investment Advisors LLC now owns 424 shares of the company's stock worth $27,000 after purchasing an additional 405 shares during the period. Maseco LLP acquired a new stake in shares of Victory Capital during the second quarter worth approximately $30,000. Versant Capital Management Inc acquired a new stake in shares of Victory Capital during the first quarter worth approximately $34,000. Opal Wealth Advisors LLC acquired a new stake in shares of Victory Capital during the first quarter worth approximately $37,000. Finally, Caitong International Asset Management Co. Ltd acquired a new stake in shares of Victory Capital during the first quarter worth approximately $41,000. Institutional investors and hedge funds own 87.71% of the company's stock.

Victory Capital Company Profile

Victory Capital Holdings, Inc, together with its subsidiaries, operates as an asset management company in the United States and internationally. It offers investment advisory, fund administration, fund compliance, fund transfer agent, fund distribution, and other management services. The company provides specialized investment strategies to institutions, intermediaries, retirement platforms, and individual investors.

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