Victory Capital (NASDAQ:VCTR) Price Target Raised to $101.00

Key Points

• JPMorgan raised Victory Capital’s price target from $87 to $101 while maintaining a “neutral” rating; the new target implies 6.93% downside from the stock’s reported $108.52 price.
• Analyst sentiment remains positive overall, with a MarketBeat consensus rating of “Moderate Buy” and an average price target of $98.29. Other targets range from $91 at Morgan Stanley to $118 at Royal Bank of Canada.
• Victory Capital exceeded quarterly expectations, reporting $2.21 EPS versus the $1.79 consensus and revenue of $435.36 million versus $386.09 million; institutional investors own 87.71% of the company.

Victory Capital (NASDAQ:VCTR - Get Free Report) had its price target hoisted by JPMorgan Chase & Co. from $87.00 to $101.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price objective would indicate a potential downside of 6.93% from the company's current price.

A number of other analysts have also issued reports on VCTR. Royal Bank Of Canada set a $118.00 target price on Victory Capital in a report on Friday. Wall Street Zen upgraded Victory Capital from a "hold" rating to a "buy" rating in a report on Saturday, May 16th. Morgan Stanley set a $91.00 price objective on Victory Capital in a research report on Wednesday, July 29th. The Goldman Sachs Group restated a "neutral" rating and issued a $100.00 price objective on shares of Victory Capital in a research note on Friday. Finally, Barclays set a $112.00 target price on shares of Victory Capital in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Victory Capital has an average rating of "Moderate Buy" and an average price target of $98.29.

Victory Capital Stock Performance

VCTR stock traded up $1.73 during mid-day trading on Friday, reaching $108.52. 209,228 shares of the stock traded hands, compared to its average volume of 566,365. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.41. Victory Capital has a 52 week low of $57.03 and a 52 week high of $109.93. The business has a 50-day moving average of $91.35 and a two-hundred day moving average of $79.72. The firm has a market capitalization of $6.79 billion, a PE ratio of 19.93, a P/E/G ratio of 1.17 and a beta of 1.08.

Victory Capital (NASDAQ:VCTR - Get Free Report) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $2.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.79 by $0.42. Victory Capital had a return on equity of 24.12% and a net margin of 29.57%.The company had revenue of $435.36 million for the quarter, compared to the consensus estimate of $386.09 million. As a group, equities analysts predict that Victory Capital will post 7.38 EPS for the current fiscal year.

Hedge Funds Weigh In On Victory Capital

Several large investors have recently added to or reduced their stakes in VCTR. Caitong International Asset Management Co. Ltd grew its holdings in shares of Victory Capital by 19,350.0% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 389 shares of the company's stock worth $25,000 after purchasing an additional 387 shares in the last quarter. Core Wealth Advisors LLC acquired a new position in shares of Victory Capital in the fourth quarter valued at $30,000. Covestor Ltd raised its stake in shares of Victory Capital by 99.7% in the fourth quarter. Covestor Ltd now owns 669 shares of the company's stock valued at $42,000 after purchasing an additional 334 shares in the last quarter. Cassaday & Co Wealth Management LLC bought a new position in Victory Capital in the first quarter worth $46,000. Finally, PNC Financial Services Group Inc. lifted its position in Victory Capital by 48.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 753 shares of the company's stock worth $48,000 after purchasing an additional 246 shares during the period. Institutional investors and hedge funds own 87.71% of the company's stock.

Victory Capital Company Profile

Victory Capital NASDAQ: VCTR is a global investment management firm that provides a broad range of strategies across equities, fixed income, multi-asset and alternative investments. Serving institutional, intermediary and retail clients, the company delivers tailored solutions through active, research-driven portfolio management. Its product lineup includes traditional mutual funds, separately managed accounts, sub-advisory services and specialized strategies such as ESG-focused and municipal bond portfolios.

Founded in 1988, Victory Capital has expanded its capabilities via both organic growth and strategic acquisitions, integrating experienced investment teams to enhance its offerings in areas like smart beta, global equity and fixed income.

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