Hercules Capital (NYSE:HTGC) Price Target Raised to $24.00

Key Points

• JMP Securities raised the price target for Hercules Capital from $22.00 to $24.00, indicating a potential upside of 25.26% from its current price.
• In the latest earnings report, Hercules Capital reported an EPS of $0.50, beating expectations and showing a 10% revenue increase year-over-year.
• The stock currently has a consensus rating of "Moderate Buy" with two analysts rating it as a hold and four assigning buy ratings.

Hercules Capital (NYSE:HTGC - Get Free Report) had its price objective upped by stock analysts at JMP Securities from $22.00 to $24.00 in a report released on Monday,Benzinga reports. The brokerage currently has a "market outperform" rating on the financial services provider's stock. JMP Securities' price objective points to a potential upside of 25.26% from the company's current price.

HTGC has been the subject of a number of other research reports. Piper Sandler increased their price target on Hercules Capital from $20.00 to $21.00 and gave the company an "overweight" rating in a report on Friday. UBS Group boosted their price objective on Hercules Capital from $18.50 to $19.00 and gave the company a "neutral" rating in a report on Wednesday, July 16th. Wells Fargo & Company lowered their price objective on Hercules Capital from $21.00 to $19.00 and set an "overweight" rating for the company in a report on Monday, April 28th. Finally, Keefe, Bruyette & Woods dropped their price target on Hercules Capital from $21.50 to $20.50 and set an "outperform" rating on the stock in a research report on Tuesday, April 8th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $20.58.

Hercules Capital Trading Up 2.1%

Shares of HTGC opened at $19.16 on Monday. The company has a market capitalization of $3.36 billion, a P/E ratio of 12.69 and a beta of 0.94. Hercules Capital has a one year low of $15.65 and a one year high of $22.04. The company has a debt-to-equity ratio of 0.99, a quick ratio of 2.38 and a current ratio of 2.38. The stock has a 50-day moving average price of $18.41 and a 200 day moving average price of $18.82.

Hercules Capital (NYSE:HTGC - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The financial services provider reported $0.50 EPS for the quarter, beating analysts' consensus estimates of $0.47 by $0.03. The firm had revenue of $137.46 million during the quarter, compared to the consensus estimate of $129.47 million. Hercules Capital had a return on equity of 16.97% and a net margin of 51.46%. Hercules Capital's revenue for the quarter was up 10.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.51 earnings per share. Sell-side analysts forecast that Hercules Capital will post 1.96 EPS for the current fiscal year.

Insider Transactions at Hercules Capital

In other Hercules Capital news, Director Nikos Theodosopoulos bought 5,999 shares of the business's stock in a transaction on Thursday, May 8th. The shares were purchased at an average price of $17.49 per share, with a total value of $104,922.51. Following the completion of the acquisition, the director directly owned 11,960 shares of the company's stock, valued at approximately $209,180.40. The trade was a 100.64% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 1.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Hercules Capital

A number of large investors have recently bought and sold shares of the business. Y Intercept Hong Kong Ltd lifted its holdings in Hercules Capital by 210.4% in the second quarter. Y Intercept Hong Kong Ltd now owns 97,439 shares of the financial services provider's stock worth $1,781,000 after acquiring an additional 66,043 shares during the last quarter. MQS Management LLC bought a new position in Hercules Capital in the second quarter worth about $571,000. CNB Bank bought a new position in Hercules Capital in the second quarter worth about $34,000. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Hercules Capital by 24.4% in the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 621,724 shares of the financial services provider's stock worth $11,365,000 after acquiring an additional 122,025 shares during the last quarter. Finally, D.A. Davidson & CO. lifted its holdings in Hercules Capital by 3.4% in the second quarter. D.A. Davidson & CO. now owns 295,514 shares of the financial services provider's stock worth $5,402,000 after acquiring an additional 9,585 shares during the last quarter. Institutional investors own 19.69% of the company's stock.

About Hercules Capital

Hercules Capital, Inc is a business development company. The firm specializing in providing venture debt, debt, senior secured loans, and growth capital to privately held venture capital-backed companies at all stages of development from startups to expansion stage including select publicly listed companies and select special opportunity lower middle market companies that require additional capital to fund acquisitions, recapitalizations and refinancing and established-stage companies.

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