Victory Capital (NASDAQ:VCTR) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Key Points

• JPMorgan Chase & Co. raised its price target on Victory Capital to $81 from $72, while keeping a neutral rating. The new target implies a slight downside from the stock’s current price.
• Victory Capital reported better-than-expected quarterly earnings, with EPS of $1.82 versus estimates of $1.63 and revenue of $387.99 million versus $364.97 million expected. Revenue jumped 76.7% year over year.
• Analyst sentiment is mixed but leaning positive, with a consensus rating of Moderate Buy and an average target price of $81.14. Several other firms recently adjusted their targets upward, though one downgraded the stock to hold.

Victory Capital (NASDAQ:VCTR - Get Free Report) had its target price lifted by stock analysts at JPMorgan Chase & Co. from $72.00 to $81.00 in a report released on Friday,Benzinga reports. The firm presently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price target points to a potential downside of 4.73% from the company's current price.

A number of other brokerages also recently issued reports on VCTR. Wall Street Zen downgraded Victory Capital from a "buy" rating to a "hold" rating in a report on Monday, April 6th. Morgan Stanley set a $76.00 target price on Victory Capital in a research note on Friday, May 1st. Royal Bank Of Canada boosted their target price on Victory Capital from $78.00 to $84.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 10th. Weiss Ratings reissued a "buy (b)" rating on shares of Victory Capital in a research note on Monday, April 20th. Finally, Barclays upped their price objective on Victory Capital from $74.00 to $85.00 and gave the stock an "equal weight" rating in a research report on Friday. Five analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $81.14.

Victory Capital Stock Up 1.6%

Shares of VCTR traded up $1.33 during midday trading on Friday, reaching $85.02. 244,887 shares of the stock were exchanged, compared to its average volume of 595,348. Victory Capital has a 52 week low of $57.03 and a 52 week high of $88.42. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.40. The company's 50 day moving average is $70.35 and its two-hundred day moving average is $67.65. The company has a market capitalization of $5.45 billion, a P/E ratio of 19.15, a PEG ratio of 1.19 and a beta of 1.09.

Victory Capital (NASDAQ:VCTR - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $1.82 earnings per share for the quarter, topping analysts' consensus estimates of $1.63 by $0.19. Victory Capital had a return on equity of 21.99% and a net margin of 25.79%.The firm had revenue of $387.99 million during the quarter, compared to analysts' expectations of $364.97 million. During the same period in the prior year, the business posted $1.36 EPS. The firm's quarterly revenue was up 76.7% on a year-over-year basis. On average, sell-side analysts anticipate that Victory Capital will post 6.73 earnings per share for the current year.

Hedge Funds Weigh In On Victory Capital

A number of large investors have recently modified their holdings of VCTR. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Victory Capital by 4.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,469 shares of the company's stock worth $1,416,000 after acquiring an additional 1,060 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Victory Capital by 1.6% during the first quarter. Goldman Sachs Group Inc. now owns 366,318 shares of the company's stock worth $21,199,000 after purchasing an additional 5,685 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Victory Capital by 10.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 98,285 shares of the company's stock worth $5,688,000 after purchasing an additional 9,319 shares during the last quarter. Jane Street Group LLC acquired a new stake in shares of Victory Capital during the first quarter worth $3,747,000. Finally, Intech Investment Management LLC boosted its holdings in shares of Victory Capital by 18.8% during the first quarter. Intech Investment Management LLC now owns 20,442 shares of the company's stock worth $1,183,000 after purchasing an additional 3,237 shares during the last quarter. 87.71% of the stock is owned by hedge funds and other institutional investors.

About Victory Capital

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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