Blue Owl Technology Finance (NYSE:OTF) Price Target Raised to $17.00

Key Points

• Citizens JMP raised Blue Owl Technology Finance’s price target to $17 from $16 and maintained a “market outperform” rating, implying approximately 45.6% upside from the $11.67 share price.
• Analyst sentiment remains generally positive, with four Buy ratings and three Holds producing a “Moderate Buy” consensus and an average price target of $13.60.
• Blue Owl Technology Finance reported quarterly EPS of $0.33, exceeding the $0.31 analyst consensus, while insiders purchased 18,000 shares worth approximately $194,710 over the past 90 days.

Blue Owl Technology Finance (NYSE:OTF - Get Free Report) had its target price hoisted by stock analysts at Citizens Jmp from $16.00 to $17.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a "market outperform" rating on the stock. Citizens Jmp's price objective would indicate a potential upside of 45.62% from the company's current price.

Other research analysts have also issued research reports about the company. Zacks Research upgraded Blue Owl Technology Finance from a "strong sell" rating to a "hold" rating in a research report on Wednesday, June 10th. Keefe, Bruyette & Woods lowered their price target on Blue Owl Technology Finance from $13.00 to $12.00 and set a "market perform" rating on the stock in a report on Tuesday, May 12th. Truist Financial cut their price objective on shares of Blue Owl Technology Finance from $16.00 to $15.00 and set a "buy" rating on the stock in a research note on Tuesday, May 19th. Citigroup restated an "outperform" rating on shares of Blue Owl Technology Finance in a research note on Friday. Finally, Wells Fargo & Company reduced their price objective on shares of Blue Owl Technology Finance from $13.00 to $12.00 and set an "overweight" rating for the company in a report on Friday, May 8th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $13.60.

Blue Owl Technology Finance Stock Performance

Shares of NYSE:OTF traded up $0.34 during trading hours on Friday, hitting $11.67. The stock had a trading volume of 1,300,964 shares, compared to its average volume of 2,261,243. The stock's fifty day simple moving average is $10.54 and its 200 day simple moving average is $11.44. The firm has a market capitalization of $5.40 billion, a price-to-earnings ratio of 14.61 and a beta of -0.86. Blue Owl Technology Finance has a 1-year low of $9.75 and a 1-year high of $15.82.

Blue Owl Technology Finance (NYSE:OTF - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The company reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.31 by $0.02. Blue Owl Technology Finance had a return on equity of 7.09% and a net margin of 28.69%.The business had revenue of $263.96 million during the quarter. During the same period last year, the company earned $0.45 earnings per share. As a group, research analysts anticipate that Blue Owl Technology Finance will post 1.26 EPS for the current year.

Insider Buying and Selling

In other news, Director Chris Temple purchased 7,000 shares of the stock in a transaction dated Friday, May 22nd. The shares were bought at an average cost of $10.71 per share, for a total transaction of $74,970.00. Following the transaction, the director owned 12,000 shares in the company, valued at $128,520. This trade represents a 140.00% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Melissa Weiler acquired 10,000 shares of the company's stock in a transaction dated Wednesday, May 13th. The stock was purchased at an average cost of $10.90 per share, for a total transaction of $109,000.00. Following the purchase, the director directly owned 10,000 shares in the company, valued at approximately $109,000. This represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders acquired 18,000 shares of company stock valued at $194,710 over the last 90 days. 0.05% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Clearstead Advisors LLC acquired a new stake in Blue Owl Technology Finance in the 4th quarter valued at about $124,000. Kestra Advisory Services LLC acquired a new position in shares of Blue Owl Technology Finance in the 4th quarter worth approximately $128,000. Abel Hall LLC bought a new stake in shares of Blue Owl Technology Finance in the 1st quarter worth approximately $124,000. Onyx Bridge Wealth Group LLC bought a new stake in shares of Blue Owl Technology Finance in the 4th quarter worth approximately $150,000. Finally, Wealth Architects LLC acquired a new stake in Blue Owl Technology Finance during the fourth quarter valued at approximately $167,000.

Blue Owl Technology Finance Company Profile

Blue Owl Technology Finance NYSE: OTF is a publicly traded business development company (BDC) sponsored by alternative asset manager Blue Owl. The firm focuses on providing customized debt and structured capital solutions to technology and technology-enabled companies, with an emphasis on growth-stage and middle-market borrowers. As a BDC, its primary activities include originating, structuring and managing private credit investments tailored to the financing needs of fast-growing businesses.

Its investment approach typically centers on direct lending and credit-oriented products, including senior secured loans, unitranche and subordinated debt, as well as selective equity-linked instruments and structured financings.

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