Virtu Financial Gains on Price Target Boost at Citi

Virtu Financial Gains on Price Target Boost at Citi March 26, 2024, 11:18 a.m., readers: 2

Virtu Financial (NASDAQ:VIRT) shares rose more than 2% intra-day today after Citi analysts increased their price target for the company to $22.50 from $21, while maintaining a Buy rating. The analysts noted that the first quarter of 2024 has seen some positive developments for Virtu Financial, including increased retail activity. These factors are expected to partially counteract the impact of persistently low volatility levels. Despite the current market conditions not being entirely favorable, the analysts believe that Virtu Financial is strategically well-placed to capitalize on any improvements in the market, whether through sustained retail activity or better volatility. The firm is also expected to benefit in the long term from its progress in growth initiatives across various sectors, including options, fixed income, currencies and commodities (FICC), ETF blocks, and cryptocurrency.

About NASDAQ: VIRT

V irtu Financial, Inc., a financial services company, provides data, analytics, and connectivity products to clients worldwide. The company operates in two segments, Market Making and Execution Services. Its product suite includes offerings in execution, liquidity sourcing, analytics and broker-neutral, and multi-dealer platforms in workflow technology. The company's solutions enable clients to trade on various venues across countries and in multiple asset classes, including global equities, ETFs, foreign exchange, futures, fixed income, cryptocurrencies, and other commodities.

Price: 20.58
Market cap: 1.8 billion USD
Eps: 1.42
P/e ratio: 14.49
Focus Analysis On: VIRT