TriplePoint Venture Growth BDC (NYSE:TPVG) Posts Quarterly Earnings Results, Misses Expectations By $0.03 EPS

TriplePoint Venture Growth BDC (NYSE:TPVG) issued its quarterly earnings results on Wednesday. The investment management company reported $0.32 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.03), Zacks reports. TriplePoint Venture Growth BDC had a net margin of 9.01% and a return on equity of 16.86%. The company had revenue of $25.75 million during the quarter, compared to the consensus estimate of $26.68 million.

TriplePoint Venture Growth BDC Stock Performance

Shares of NYSE:TPVG opened at $7.79 on Thursday. The company has a fifty day moving average of $7.77 and a 200-day moving average of $7.51. The company has a market capitalization of $311.78 million, a PE ratio of 37.07 and a beta of 1.88. TriplePoint Venture Growth BDC has a 52-week low of $6.44 and a 52-week high of $11.01.

Analyst Ratings Changes

TPVG has been the subject of several recent analyst reports. Wells Fargo & Company upped their target price on TriplePoint Venture Growth BDC from $6.50 to $7.50 and gave the stock an “equal weight” rating in a research note on Tuesday, November 19th. StockNews.com upgraded TriplePoint Venture Growth BDC from a “sell” rating to a “hold” rating in a research note on Friday, November 15th. Piper Sandler cut their target price on TriplePoint Venture Growth BDC from $8.00 to $7.50 and set a “neutral” rating for the company in a research note on Thursday, November 7th. Keefe, Bruyette & Woods upgraded TriplePoint Venture Growth BDC from an “underperform” rating to a “market perform” rating and cut their target price for the stock from $8.00 to $7.50 in a research note on Thursday, November 7th. Finally, Compass Point upped their target price on TriplePoint Venture Growth BDC from $7.50 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday, December 5th. Seven research analysts have rated the stock with a hold rating, According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $7.70.

About TriplePoint Venture Growth BDC

TriplePoint Venture Growth BDC Corp. is a business development company specializing investments in venture capital-backed companies at the growth stage investments. It also provides debt financing to venture growth space companies which includes growth capital loans, secured and customized loans, equipment financings, revolving loans and direct equity investments.