TriplePoint Venture Growth BDC (NYSE:TPVG) Releases Earnings Results, Misses Estimates By $0.26 EPS

Key Points

• TriplePoint Venture Growth BDC reported a quarterly loss of $0.04 per share, missing the consensus estimate of $0.22 in earnings by $0.26. Revenue was $20.17 million, below the $22.18 million estimate.
• Despite the earnings miss, TPVG shares rose 3.7% to $4.67 on Wednesday.
• Analyst sentiment remains cautious: the average rating is “Reduce,” with three Hold and two Sell ratings and an average price target of $5.17.

TriplePoint Venture Growth BDC (NYSE:TPVG - Get Free Report) issued its quarterly earnings data on Wednesday. The investment management company reported ($0.04) earnings per share for the quarter, missing analysts' consensus estimates of $0.22 by ($0.26), FiscalAI reports. The company had revenue of $20.17 million for the quarter, compared to the consensus estimate of $22.18 million. TriplePoint Venture Growth BDC had a net margin of 44.58% and a return on equity of 10.68%.

TriplePoint Venture Growth BDC Trading Up 3.7%

TPVG stock traded up $0.17 on Wednesday, hitting $4.67. 216,665 shares of the company's stock traded hands, compared to its average volume of 327,609. The stock has a market cap of $189.91 million, a price-to-earnings ratio of 4.71 and a beta of 1.35. TriplePoint Venture Growth BDC has a 1-year low of $4.15 and a 1-year high of $6.95. The stock has a fifty day moving average of $4.83 and a 200-day moving average of $5.19.

Insider Activity at TriplePoint Venture Growth BDC

In other news, insider Sajal Srivastava sold 313,865 shares of the firm's stock in a transaction on Friday, September 18th. The stock was sold at an average price of $4.71, for a total transaction of $1,478,304.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO James Labe bought 313,865 shares of the firm's stock in a transaction that occurred on Friday, September 18th. The stock was bought at an average price of $4.71 per share, for a total transaction of $1,478,304.15. Following the completion of the acquisition, the chief executive officer directly owned 2,312,354 shares in the company, valued at approximately $10,891,187.34. The trade was a 15.71% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 1.55% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Weiss Ratings cut shares of TriplePoint Venture Growth BDC from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Thursday, October 8th. Keefe, Bruyette & Woods lowered their price objective on shares of TriplePoint Venture Growth BDC from $6.00 to $5.50 and set a "market perform" rating on the stock in a research note on Thursday, August 6th. Finally, Piper Sandler lowered their price target on TriplePoint Venture Growth BDC from $5.50 to $5.00 and set a "neutral" rating on the stock in a research report on Monday, July 13th. Three analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Reduce" and an average target price of $5.17.

TriplePoint Venture Growth BDC Company Profile

TriplePoint Venture Growth BDC Corp. is a business development company that provides financing to venture growth-stage companies. The company primarily invests in businesses backed by venture capital or private equity sponsors, with an emphasis on companies that have developed products or services and are seeking capital to support expansion, acquisitions, working capital and other corporate purposes.

Its investment portfolio is focused largely on companies in technology, life sciences and other high-growth industries.

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