Virtu Financial (NASDAQ:VIRT) Price Target Raised to $40.00 at Piper Sandler

Virtu Financial (NASDAQ:VIRT) had its target price boosted by analysts at Piper Sandler from $35.00 to $40.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s price objective would suggest a potential upside of 10.01% from the stock’s previous close.

Several other equities research analysts have also recently weighed in on VIRT. Morgan Stanley upped their target price on Virtu Financial from $23.00 to $25.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Citigroup upped their price objective on shares of Virtu Financial from $32.00 to $37.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. The Goldman Sachs Group raised their target price on shares of Virtu Financial from $26.00 to $29.00 and gave the company a “neutral” rating in a research report on Monday, September 30th. Finally, Bank of America lowered their price target on shares of Virtu Financial from $37.00 to $35.00 and set a “buy” rating for the company in a research report on Thursday, October 3rd. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $30.21.

Virtu Financial Stock Up 1.6 %

Shares of VIRT opened at $36.36 on Tuesday. The firm has a fifty day moving average price of $35.56 and a 200-day moving average price of $31.23. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 1.23. The firm has a market capitalization of $5.62 billion, a P/E ratio of 18.27, a P/E/G ratio of 0.49 and a beta of 0.45. Virtu Financial has a 12-month low of $16.02 and a 12-month high of $38.45.

Virtu Financial (NASDAQ:VIRT) last released its quarterly earnings data on Thursday, October 24th. The financial services provider reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.03. The company had revenue of $388.00 million during the quarter, compared to analysts’ expectations of $379.18 million. Virtu Financial had a net margin of 7.29% and a return on equity of 23.22%. The firm’s quarterly revenue was up 30.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.40 EPS. Equities research analysts expect that Virtu Financial will post 2.71 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the company. FMR LLC boosted its stake in Virtu Financial by 38.0% in the third quarter. FMR LLC now owns 4,974,095 shares of the financial services provider’s stock valued at $151,511,000 after acquiring an additional 1,368,419 shares in the last quarter. Renaissance Technologies LLC lifted its holdings in shares of Virtu Financial by 3.5% during the 2nd quarter. Renaissance Technologies LLC now owns 3,643,686 shares of the financial services provider’s stock valued at $81,801,000 after purchasing an additional 124,563 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Virtu Financial in the 3rd quarter worth $29,815,000. Old West Investment Management LLC grew its stake in Virtu Financial by 4.3% during the 2nd quarter. Old West Investment Management LLC now owns 681,441 shares of the financial services provider’s stock worth $15,298,000 after buying an additional 28,199 shares during the last quarter. Finally, Portolan Capital Management LLC purchased a new position in Virtu Financial during the 3rd quarter worth $11,918,000. Institutional investors own 45.78% of the company’s stock.

Virtu Financial Company Profile

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.