TriplePoint Venture Growth shares are trading lower after the company reported worse-than-expected Q4 financial results. Also, Piper Sandler and Wells Fargo and lowered their respective price targets on the stock, while JMP Securities downgraded the stock from Market Outperform to Market Perform.
Portfolio Pulse from Benzinga Newsdesk
TriplePoint Venture Growth (TPVG) shares dropped following disappointing Q4 financial results. Piper Sandler and Wells Fargo reduced their price targets, and JMP Securities downgraded TPVG from Market Outperform to Market Perform.
March 07, 2024 | 1:01 pm
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TriplePoint Venture Growth's stock price is likely to face downward pressure in the short term due to worse-than-expected Q4 results, lowered price targets by Piper Sandler and Wells Fargo, and a downgrade by JMP Securities.
The combination of poor quarterly financial performance and negative adjustments by analysts, including lowered price targets and a downgrade, typically exerts downward pressure on a stock's price in the short term.
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