Streetbeat News

VEL

Velocity Financial, Inc.

https://www.velfinance.com

Industry

Financial - Mortgages

Velocity Financial, Inc. operates as a real estate finance company in the United States. It primarily originates and manages investor loans secured by 14 unit residential rental and small commercial properties. The company offers its products through a network of independent mortgage brokers. Velocity Financial, Inc. was founded in 2004 and is headquartered in Westlake Village, California.

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Wells Fargo analyst Donald Fandetti has downgraded Velocity Financial (NYSE:VEL) from Overweight to Underweight, setting a price target of $20.

Portfolio Pulse from Benzinga Newsdesk

September 20, 2024 | 12:57 pm

JMP Securities analyst Chris McGinnis has reiterated a Market Outperform rating for Velocity Financial (NYSE:VEL) and maintained a price target of $21.

Portfolio Pulse from Benzinga Newsdesk

September 16, 2024 | 2:32 pm

BTIG analyst Sarah Barcomb maintains a Buy rating on Velocity Financial (NYSE:VEL) and raises the price target from $18 to $20.

Portfolio Pulse from Benzinga Newsdesk

August 02, 2024 | 9:39 pm

JMP Securities analyst Chris McGinnis maintains a Market Outperform rating on Velocity Financial (NYSE:VEL) and raises the price target from $19 to $21.

Portfolio Pulse from Benzinga Newsdesk

August 02, 2024 | 6:32 pm

Velocity Financial (NYSE:VEL) reported Q2 2024 adjusted EPS of $0.45, beating the $0.41 estimate. Sales were $54.76M, surpassing the $50.2M estimate and marking a 40.24% increase from the same period last year.

Portfolio Pulse from Benzinga Newsdesk

August 01, 2024 | 9:06 pm

Velocity Financial (NYSE:VEL) has received diverse ratings from 7 analysts over the past three months, with a notable increase in the average 12-month price target to $18.93. Analysts have predominantly raised their ratings and price targets, reflecting a positive outlook on the company's performance.

Portfolio Pulse from Benzinga Insights

May 30, 2024 | 6:00 pm

Raymond James analyst Stephen Laws has reiterated an Outperform rating on Velocity Financial (NYSE:VEL) and raised the price target from $20 to $22.

Portfolio Pulse from Benzinga Newsdesk

May 30, 2024 | 4:05 pm

Velocity Financial has announced entering into equity distribution agreements with BTIG, LLC and Virtu Americas LLC, allowing the sale of up to $50M of its common stock over time, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

May 03, 2024 | 10:45 pm

Velocity Financial (NYSE:VEL) reported Q1 2024 earnings of $0.51 per share, surpassing the $0.39 estimate, a 54.55% increase YOY. Sales reached $54.247M, beating the $46.200M estimate, up 49.54% YOY.

Portfolio Pulse from Benzinga Newsdesk

May 02, 2024 | 9:01 pm

Velocity Financial (NYSE:VEL) has received mixed analyst ratings over the past quarter, with a shift towards more bullish sentiments in the last 30 days. Analysts from firms like JMP Securities, Raymond James, Citigroup, BTIG, and Wells Fargo have raised their price targets, reflecting an optimistic outlook on the company's performance. The average 12-month price target is now $18.42, up 14.55% from the previous average of $16.08. Velocity Financial, a real estate finance company, has shown significant financial growth with a revenue increase of 65.74% as of December 31, 2023, and outperforms in net margin and ROE compared to industry averages.

Portfolio Pulse from Benzinga Insights

April 30, 2024 | 5:02 pm

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