Victory Capital Price Target Increased to $64.00

Victory Capital (NASDAQ:VCTR) has seen a significant adjustment in its price target, with analysts from UBS Group raising it from $49.00 to $64.00. This update was shared with investors in a note released recently, indicating the firm maintains a “neutral” rating on the stock. The updated target suggests a potential upside of approximately 10.34% from the stock's previous closing price.

Other analysts have also expressed their views on Victory Capital. Barclays initiated its coverage on August 27, providing an “equal weight” rating alongside a price objective of $58.00. Bank of America revised its price target from $58.00 to $59.00 on August 12, giving the stock a “buy” rating. Morgan Stanley upgraded Victory Capital from an “underweight” rating to an “equal weight” rating and raised its price target from $40.00 to $60.00 on October 18. Additionally, JPMorgan Chase & Co. increased its price objective from $45.00 to $49.00 while maintaining a “neutral” rating as of August 19. The Goldman Sachs Group also raised its target price from $59.50 to $60.00, supporting a “buy” rating on October 3. In total, four analysts rated the stock as a hold and five categorized it as a buy. Current data from MarketBeat shows a consensus average rating of “Moderate Buy” with an average price target of $59.67.

Victory Capital’s Recent Market Performance

The stock opened at $58.00 on the day of the announcement. Victory Capital has experienced a 52-week low of $28.66 and a high of $61.68 within that timeframe. The debt-to-equity ratio stands at 0.87, with both the quick and current ratios at 0.91. Its 50-day and 200-day simple moving averages are $55.08 and $51.55, respectively. With a market capitalization of $3.75 billion, the stock has a price-to-earnings (PE) ratio of 17.79 and a price-to-earnings-growth ratio of 0.65, with a beta of 0.91.

Victory Capital recently disclosed its earnings results on August 8, reporting earnings per share (EPS) of $1.30, which exceeded analysts’ estimates of $1.26 by $0.04. The company achieved a net margin of 27.87% and a return on equity of 29.74%. Total revenue for the quarter was $219.62 million, slightly below the anticipated $220.82 million. Analysts estimate Victory Capital's EPS for the current year to be 5.19.

Institutional Investor Activity

A number of institutional investors have altered their positions in Victory Capital. Goldman Sachs Group Inc. notably increased its stake by 426.9% in the fourth quarter, now owning 589,710 shares valued at $20,310,000 after acquiring an additional 477,798 shares. Vanguard Group Inc. has also boosted its holdings, increasing its stake by 3.4% and now owning 3,212,173 shares worth $110,627,000. Diversified Trust Co. upped its holdings by 13.6%, owning 14,160 shares valued at $601,000, and similarly, Allspring Global Investments Holdings LLC enhanced its position by 88.7% to hold 20,105 shares worth $853,000. Legacy Wealth Asset Management LLC increased its stake by 48.1%, now owning 24,306 shares valued at $1,031,000. Currently, institutional investors and hedge funds hold about 87.71% of Victory Capital's stock.

About Victory Capital

Victory Capital Holdings, Inc. operates as an asset management company in the United States and internationally. Its services include investment advisory, fund administration, compliance, transfer agent, and distribution, along with various management strategies for institutions, intermediaries, retirement platforms, and individual investors.

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