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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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

Velocity Financial (NYSE:VEL) reported Q4 2023 adjusted EPS of $0.460, surpassing the $0.380 estimate, with sales of $51.567M also beating the $47.496M estimate. This represents a 58.69% increase in sales compared to the same period last year.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 9:37 pm

Numerous companies are scheduled to report their quarterly earnings on March 7, 2024, with a mix of projected earnings and losses across various sectors. Notable mentions include CI&T, Stevanato Gr, ABM Industries, Bilibili, BJ's Wholesale Club, Burlington Stores, and many others, indicating a significant day for investors to monitor potential market movements.

Portfolio Pulse from Benzinga Insights

March 07, 2024 | 9:49 am

Wall Street analysts have updated their price targets and ratings for several US-listed companies. BTIG raised Velocity Financial's target from $14 to $17 with a Buy rating. Citigroup increased Adobe's target from $610 to $675, maintaining a Neutral rating. Oppenheimer lowered Achieve Life Sciences' target from $21 to $18 but kept an Outperform rating. Needham raised Semrush's target from $13 to $15 with a Buy rating. Barclays downgraded Airbnb from Equal-Weight to Underweight, reducing the target from $135 to $100. RBC Capital upgraded Amgen from Sector Perform to Outperform, raising the target from $256 to $300. Morgan Stanley downgraded GoPro from Equal-Weight to Underweight, cutting the target from $4 to $3. The same analyst upgraded HP from Equal-Weight to Overweight, increasing the target from $31 to $35. Piper Sandler maintained an Overweight rating on Oracle but reduced the target from $130 to $125. Telsey Advisory Group raised PVH Corp's target from $111 to $122 with an Outperform rating.

Portfolio Pulse from Avi Kapoor

December 12, 2023 | 1:00 pm

BTIG analyst Sarah Barcomb has maintained a Buy rating on Velocity Financial (NYSE:VEL) and increased the price target from $14 to $17, indicating a positive outlook on the company's stock.

Portfolio Pulse from Benzinga Newsdesk

December 12, 2023 | 11:45 am

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