Victory Capital (NASDAQ: VCTR) Price Target Increased to $64.00

On October 24, 2024, research analysts at UBS Group announced they have raised their price target for Victory Capital (NASDAQ: VCTR) from $49.00 to $64.00. This adjustment was communicated to investors in a note reported by Benzinga. The analysts at UBS currently maintain a "neutral" rating for the stock, and this new price target implies a potential upside of about 10.34% based on the recent closing price of the company’s shares.

Several other financial analysts have also provided their insights on Victory Capital recently. For instance, Barclays initiated coverage on the stock with an "equal weight" rating and set a price target of $58.00 as of August 27, 2024. Meanwhile, Bank of America upgraded its target for Victory Capital from $58.00 to $59.00 in a report released on August 12, 2024, while giving the stock a "buy" rating. Additionally, Morgan Stanley raised its rating from "underweight" to "equal weight" and increased its target from $40.00 to $60.00 as of October 18, 2024. On August 19, 2024, JPMorgan Chase also lifted their price objective from $45.00 to $49.00 and maintained a "neutral" rating for the stock. Furthermore, The Goldman Sachs Group increased their target from $59.50 to $60.00 on October 3, 2024, rating the stock as a "buy." Overall, four analysts have issued hold ratings, while five have given buys for Victory Capital. According to MarketBeat, the stock currently holds an average rating of "Moderate Buy" and an average price target of about $59.67.

Current Stock Performance

As of Tuesday, VCTR shares opened at $58.00. The stock has experienced a 52-week range, with a low of $28.66 and a high of $61.68. Financial metrics indicate a debt-to-equity ratio of 0.87 and both current and quick ratios at 0.91. The 50-day simple moving average for the stock is $55.08, and the 200-day average is $51.55. Victory Capital’s market capitalization stands at approximately $3.75 billion, with a price-to-earnings (P/E) ratio of 17.79 and a price-to-earnings-growth (PEG) ratio of 0.65. The stock’s beta is recorded at 0.91, reflecting its volatility compared to the market.

Victory Capital last reported its earnings on August 8, 2024, revealing earnings per share (EPS) of $1.30 for the quarter, slightly exceeding the consensus estimate of $1.26 by $0.04. The company reported a net profit margin of 27.87% and a return on equity of 29.74%. Revenue for the quarter was reported at $219.62 million, compared to the projected $220.82 million by analysts. Looking ahead, aggregate market forecasts suggest that Victory Capital is expected to post an EPS of 5.19 for the current fiscal year.

Institutional Investment Activity

Recent shifts in institutional holdings have also impacted Victory Capital. For example, Goldman Sachs Group Inc. enhanced its position in the company by 426.9% in the fourth quarter, now owning 589,710 shares worth about $20.31 million after acquiring an additional 477,798 shares. Similarly, Vanguard Group Inc. has grown its stake by 3.4%, now holding 3,212,173 shares valued at approximately $110.63 million following a purchase of 104,746 shares in the last quarter. Diversified Trust Co and Allspring Global Investments both reported increases in their ownership, alongside Legacy Wealth Asset Management, which raised its holdings by 48.1%. Currently, approximately 87.71% of Victory Capital’s stock is held by institutional investors and hedge funds.

Company Overview

Victory Capital Holdings, Inc. operates as an asset management company, providing a range of services including investment advisory, fund administration, compliance, and fund distribution. The company serves various clients including institutions, intermediaries, and individual investors with specialized investment strategies.

Victory, Capital, Stocks