Virtu Financial (NASDAQ:VIRT) PT Raised to $31.00 at Piper Sandler

Virtu Financial (NASDAQ:VIRT) had its target price lifted by investment analysts at Piper Sandler from $25.00 to $31.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s price target points to a potential upside of 5.16% from the company’s previous close.

Several other equities research analysts also recently weighed in on VIRT. StockNews.com upgraded shares of Virtu Financial from a “sell” rating to a “hold” rating in a research note on Wednesday, June 19th. Bank of America raised their target price on shares of Virtu Financial from $22.00 to $25.00 and gave the company a “buy” rating in a research note on Thursday, April 25th. JPMorgan Chase & Co. raised their target price on shares of Virtu Financial from $20.00 to $21.50 and gave the company a “neutral” rating in a research note on Thursday, April 25th. Citigroup lifted their price objective on shares of Virtu Financial from $22.50 to $24.50 and gave the stock a “buy” rating in a research note on Thursday, April 25th. Finally, The Goldman Sachs Group lifted their price objective on shares of Virtu Financial from $19.20 to $21.70 and gave the stock a “neutral” rating in a research note on Friday, April 26th. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Virtu Financial currently has a consensus rating of “Hold” and a consensus target price of $25.03.

Virtu Financial Stock Performance

Shares of VIRT stock opened at $29.48 on Friday. The firm has a market cap of $4.63 billion, a price-to-earnings ratio of 20.62, a PEG ratio of 0.56 and a beta of 0.39. The company’s 50 day moving average is $23.16 and its 200 day moving average is $20.71. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 1.21. Virtu Financial has a 52-week low of $16.02 and a 52-week high of $29.51.

Virtu Financial (NASDAQ:VIRT) last issued its quarterly earnings data on Thursday, July 18th. The financial services provider reported $0.83 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.23. The company had revenue of $385.10 million for the quarter, compared to analyst estimates of $331.92 million. Virtu Financial had a net margin of 7.59% and a return on equity of 22.67%. Virtu Financial’s revenue was up 38.2% compared to the same quarter last year. During the same period last year, the company posted $0.29 earnings per share. On average, sell-side analysts anticipate that Virtu Financial will post 2.08 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in VIRT. Riverview Trust Co acquired a new position in Virtu Financial during the first quarter valued at $26,000. Quarry LP lifted its position in Virtu Financial by 79.9% during the fourth quarter. Quarry LP now owns 1,680 shares of the financial services provider’s stock valued at $34,000 after purchasing an additional 746 shares during the period. CWM LLC lifted its position in Virtu Financial by 112.3% during the fourth quarter. CWM LLC now owns 2,131 shares of the financial services provider’s stock valued at $43,000 after purchasing an additional 1,127 shares during the period. Abich Financial Wealth Management LLC lifted its position in Virtu Financial by 55.3% during the first quarter. Abich Financial Wealth Management LLC now owns 2,193 shares of the financial services provider’s stock valued at $45,000 after purchasing an additional 781 shares during the period. Finally, First Horizon Advisors Inc. increased its holdings in Virtu Financial by 21.0% in the second quarter. First Horizon Advisors Inc. now owns 2,143 shares of the financial services provider’s stock valued at $48,000 after buying an additional 372 shares in the last quarter. 45.78% of the stock is currently owned by institutional investors and hedge funds.

About Virtu Financial

Virtu Financial, Inc operates as a financial services company in the United States, Asia Pacific, Canada, EMEA, Ireland, and internationally. The company operates through two segments, Market Making and Execution Services. Its product includes offerings in execution, liquidity sourcing, analytics and broker-neutral, capital markets, and multi-dealer platforms in workflow technology.