In a report released today, Stephen Laws from Raymond James reiterated a Buy rating on Velocity Financial (VEL), with a price target of $11.00. The company’s shares closed last Thursday at $9.15, close to its 52-week high of $9.55.
According to TipRanks.com, Laws is a 5-star analyst with an average return of 18.6% and a 71.1% success rate. Laws covers the Financial sector, focusing on stocks such as NexPoint Real Estate ate Finance, Finance of America Companies, and Colony Credit Real Estate.
Currently, the analyst consensus on Velocity Financial is a Strong Buy with an average price target of $10.50, representing a 14.4% upside. In a report issued on May 4, JMP Securities also maintained a Buy rating on the stock with a $11.00 price target.
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Velocity Financial’s market cap is currently $188.2M and has a P/E ratio of -5.70. The company has a Price to Book ratio of 0.86.
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Velocity Financial, Inc. operates a real estate finance company. It originates and manages investor loans secured by residential rental and small commercial properties. The company was founded by Christopher D. Farrar and Jeffrey T. Taylor in 2004 and is headquartered in Westlake Village, CA.
