Virtu Financial (NASDAQ:VIRT) Stock Price Expected to Rise, Piper Sandler Analyst Says

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

Other equities analysts also recently issued research reports about the stock. Morgan Stanley increased their price target on shares of Virtu Financial from $23.00 to $25.00 and gave the stock an “equal weight” rating in a report on Thursday, October 17th. Citigroup increased 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. Bank of America decreased their target price 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. Finally, The Goldman Sachs Group upped their price target on shares of Virtu Financial from $26.00 to $29.00 and gave the company a “neutral” rating in a report on Monday, September 30th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $30.21.

Virtu Financial Trading Up 1.6 %

NASDAQ:VIRT opened at $36.36 on Tuesday. 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 fifty day simple moving average of $35.56 and a 200-day simple moving average of $31.23. Virtu Financial has a 12 month low of $16.02 and a 12 month high of $38.45. The company has a market capitalization of $5.62 billion, a P/E ratio of 18.27, a PEG ratio of 0.49 and a beta of 0.45.

Virtu Financial (NASDAQ:VIRT) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $0.82 EPS for the quarter, topping analysts’ consensus estimates 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 return on equity of 23.22% and a net margin of 7.29%. The firm’s revenue was up 30.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.40 EPS. On average, equities research analysts anticipate that Virtu Financial will post 2.71 earnings per share for the current year.

Institutional Investors Weigh In On Virtu Financial

Hedge funds have recently modified their holdings of the company. USA Financial Formulas acquired a new position in Virtu Financial in the 3rd quarter worth about $33,000. Abich Financial Wealth Management LLC increased its position in shares of Virtu Financial by 22.2% in the second quarter. Abich Financial Wealth Management LLC now owns 2,680 shares of the financial services provider’s stock valued at $60,000 after buying an additional 487 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Virtu Financial by 149.0% in the third quarter. GAMMA Investing LLC now owns 2,410 shares of the financial services provider’s stock valued at $73,000 after buying an additional 1,442 shares in the last quarter. KBC Group NV lifted its position in shares of Virtu Financial by 42.9% during the 3rd quarter. KBC Group NV now owns 2,864 shares of the financial services provider’s stock valued at $87,000 after buying an additional 860 shares in the last quarter. Finally, Quarry LP lifted its position in shares of Virtu Financial by 129.1% during the 2nd quarter. Quarry LP now owns 6,130 shares of the financial services provider’s stock valued at $138,000 after buying an additional 3,454 shares in the last quarter. 45.78% of the stock is owned by hedge funds and other institutional investors.

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.