TriplePoint Venture Growth BDC (NYSE:TPVG) Price Target Cut to $5.00 by Analysts at Piper Sandler

Key Points

• Piper Sandler cut its price target on TriplePoint Venture Growth BDC to $5.00 from $5.50 and maintained a neutral rating, implying modest upside from the prior close.
• The stock’s broader analyst view remains cautious, with a consensus rating of “Reduce” and an average target price of $5.50; other recent calls included a hold upgrade from Zacks and a reaffirmed sell rating from Weiss Ratings.
• TPVG recently reported Q1 earnings of $0.23 per share, missing expectations of $0.25, while revenue also came in below estimates at $19.81 million versus $23.14 million forecast.

TriplePoint Venture Growth BDC (NYSE:TPVG - Get Free Report) had its target price cut by equities researchers at Piper Sandler from $5.50 to $5.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a "neutral" rating on the investment management company's stock. Piper Sandler's target price indicates a potential upside of 5.91% from the company's previous close.

TPVG has been the topic of a number of other research reports. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of TriplePoint Venture Growth BDC in a report on Tuesday, June 9th. Zacks Research raised TriplePoint Venture Growth BDC from a "strong sell" rating to a "hold" rating in a report on Friday, May 15th. Four equities research analysts have rated the stock with a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Reduce" and an average target price of $5.50.

TriplePoint Venture Growth BDC Stock Performance

Shares of NYSE:TPVG opened at $4.72 on Monday. The company's 50-day moving average is $5.31 and its 200 day moving average is $5.54. The company has a market capitalization of $191.67 million, a P/E ratio of 4.45 and a beta of 1.28. TriplePoint Venture Growth BDC has a fifty-two week low of $4.48 and a fifty-two week high of $7.50.

TriplePoint Venture Growth BDC (NYSE:TPVG - Get Free Report) last posted its quarterly earnings data on Wednesday, May 6th. The investment management company reported $0.23 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.25 by ($0.02). TriplePoint Venture Growth BDC had a return on equity of 11.54% and a net margin of 46.77%.The company had revenue of $19.81 million for the quarter, compared to analysts' expectations of $23.14 million. As a group, research analysts predict that TriplePoint Venture Growth BDC will post 0.95 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. CANADA LIFE ASSURANCE Co increased its holdings in shares of TriplePoint Venture Growth BDC by 4.4% in the fourth quarter. CANADA LIFE ASSURANCE Co now owns 53,793 shares of the investment management company's stock worth $351,000 after purchasing an additional 2,278 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its position in TriplePoint Venture Growth BDC by 19.9% during the second quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 14,659 shares of the investment management company's stock worth $72,000 after buying an additional 2,435 shares in the last quarter. Verition Fund Management LLC increased its stake in TriplePoint Venture Growth BDC by 14.1% in the 3rd quarter. Verition Fund Management LLC now owns 22,677 shares of the investment management company's stock worth $131,000 after acquiring an additional 2,800 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its position in shares of TriplePoint Venture Growth BDC by 13.8% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 24,152 shares of the investment management company's stock valued at $158,000 after acquiring an additional 2,921 shares during the last quarter. Finally, Rockefeller Capital Management L.P. grew its holdings in shares of TriplePoint Venture Growth BDC by 75.0% during the fourth quarter. Rockefeller Capital Management L.P. now owns 7,000 shares of the investment management company's stock worth $46,000 after purchasing an additional 3,000 shares in the last quarter. 12.77% of the stock is currently owned by hedge funds and other institutional investors.

About TriplePoint Venture Growth BDC

TriplePoint Venture Growth BDC Inc is a closed-end management investment company externally managed by TriplePoint Capital LLC. The firm specializes in providing customized debt and equity financing to growth-stage, venture capital– and private equity–backed companies. Its financing solutions include senior secured loans, unitranche facilities, subordinated debt and selective equity co-investments tailored to support expansion, working capital needs and strategic initiatives.

Launched in September 2018 and listed on the New York Stock Exchange under the symbol TPVG, TriplePoint Venture Growth BDC leverages the deep industry expertise and established underwriting capabilities of TriplePoint Capital, a venture lender since 2003.

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