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.

Open

19.98

Mkt cap

665M

Volume

30K

High

20.17

P/E Ratio

10.91

52-wk high

20.51

Low

19.98

Div yield

N/A

52-wk low

13.54

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

JMP Securities analyst Chris McGinnis maintains a Market Outperform rating on Velocity Financial (VEL) and raises the price target from $17.5 to $19.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 4:20 pm

Raymond James analyst Stephen Laws has reiterated an Outperform rating on Velocity Financial (NYSE:VEL) and increased the price target from $17.5 to $20.

Portfolio Pulse from Benzinga Newsdesk

March 15, 2024 | 4:17 pm

Velocity Financial (NYSE:VEL) has received diverse analyst ratings over the last three months, with a recent shift towards more bullish perspectives. Four analysts have updated their ratings, showing a trend of increased price targets, with the current average target at $17.88, reflecting a 16.25% increase from the previous average of $15.38. The company's financial performance has been strong, with significant revenue growth, high net margin, and ROE, although its debt-to-equity ratio is higher than the industry average.

Portfolio Pulse from Benzinga Insights

March 11, 2024 | 5:00 pm

Citigroup analyst Arren Cyganovich has maintained a Neutral rating on Velocity Financial (NYSE:VEL) and increased the price target from $17 to $18.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 3:52 pm

BTIG analyst Sarah Barcomb has maintained a Buy rating on Velocity Financial (NYSE:VEL) and increased the price target from $17 to $18.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 12:35 pm

JMP Securities analyst Chris McGinnis has maintained a Market Outperform rating on Velocity Financial (NYSE:VEL) and increased the price target from $13.5 to $17.5.

Portfolio Pulse from Benzinga Newsdesk

March 08, 2024 | 6:21 pm

Wells Fargo analyst Donald Fandetti has maintained an Overweight rating on Velocity Financial (VEL) and increased the price target from $14 to $18.

Portfolio Pulse from Benzinga Newsdesk

March 08, 2024 | 12:46 pm

Velocity Financial (NYSE:VEL) reported Q4 earnings, beating estimates with an EPS of $0.46 against the expected $0.38, a 21.0% increase. Revenue rose by $19.46 million year-over-year. The company's share price increased by 12.0% the day after last quarter's earnings beat.

Portfolio Pulse from Benzinga Insights

March 07, 2024 | 9:40 pm

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