Victory Capital Price Target Increased to $64.00

On October 24, 2024, analysts from UBS Group raised the price target for Victory Capital (NASDAQ: VCTR) from $49.00 to $64.00. This adjustment was noted in a report aimed at investors, which stated that UBS presently maintains a "neutral" rating on the stock. The new target price indicates a potential increase of 10.34% based on the company's recent closing price.

Several other analysts have also weighed in on Victory Capital. For instance, Barclays began covering the stock on August 27, setting an "equal weight" rating with a price target of $58.00. On August 12, Bank of America slightly increased its price target from $58.00 to $59.00 while reaffirming a "buy" rating. Meanwhile, Morgan Stanley upgraded its rating from "underweight" to "equal weight" and raised the target from $40.00 to $60.00 on October 18. JPMorgan Chase & Co. also raised its price objective from $45.00 to $49.00, maintaining a "neutral" rating as of August 19. Furthermore, The Goldman Sachs Group increased their target for Victory Capital from $59.50 to $60.00, also giving it a "buy" recommendation. Currently, four analysts rate the stock as a hold while five have issued buy ratings, leading to an average rating of "Moderate Buy" and an average price target of $59.67, according to MarketBeat.

Recent Performance of Victory Capital

On the trading day prior to the announcement, Victory Capital's stock opened at $58.00. The stock has seen a 52-week low of $28.66 and a high of $61.68. Financial metrics indicate a debt-to-equity ratio of 0.87, with both quick and current ratios at 0.91. The company's simple moving averages stand at $55.08 for the past 50 days, and $51.55 over 200 days. The market capitalization is approximately $3.75 billion, with a price-to-earnings (PE) ratio of 17.79 and a price-to-earnings-growth (PEG) ratio of 0.65, complemented by a beta of 0.91.

Victory Capital announced its earnings results on August 8, reporting earnings per share (EPS) of $1.30, which exceeded analysts' expectations of $1.26 by $0.04. The company exhibited a net margin of 27.87% and a return on equity of 29.74%. Revenue for the quarter was reported at $219.62 million, slightly below analyst estimates of $220.82 million, and analysts forecast that Victory will achieve an EPS of 5.19 for the current year.

Institutional Activity Surrounding Victory Capital

Recent activity among institutional investors indicates significant interest in Victory Capital. Goldman Sachs Group Inc. boosted its stake in the company by an impressive 426.9% during the fourth quarter, now holding 589,710 shares worth about $20.31 million after acquiring 477,798 additional shares. Vanguard Group Inc. increased their position by 3.4%, bringing their total to 3,212,173 shares valued at $110.63 million. Other notable increases include Diversified Trust Co., which grew its holdings by 13.6%, and Allspring Global Investments Holdings LLC, which increased its stake by 88.7%. In total, approximately 87.71% of Victory Capital's stock is currently held by institutional investors and hedge funds.

About Victory Capital

Victory Capital Holdings, Inc., along with its subsidiaries, is an asset management company that operates both in the United States and internationally. The firm offers a range of services including investment advisory, fund administration, compliance, and distribution while providing specialized investment strategies tailored to the needs of institutions, intermediaries, retirement platforms, and individual investors.

Victory, Capital, NASDAQ