Wells Fargo & Company Issues Pessimistic Forecast for Blue Owl Technology Finance (NYSE:OTF) Stock Price

Blue Owl Technology Finance (NYSE:OTF) had its price objective lowered by research analysts at Wells Fargo & Company from $12.00 to $11.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential upside of 18.15% from the company’s current price.

A number of other equities analysts have also recently commented on OTF. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $12.00 target price on shares of Blue Owl Technology Finance in a report on Monday, August 17th. Citizens Jmp increased their price target on Blue Owl Technology Finance from $16.00 to $17.00 and gave the company a “market outperform” rating in a report on Friday, August 7th. Finally, Citigroup restated an “outperform” rating on shares of Blue Owl Technology Finance in a research report on Friday, August 7th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $13.40.

Blue Owl Technology Finance Trading Down 2.3%

OTF opened at $9.31 on Friday. The stock has a 50-day moving average of $10.04 and a 200 day moving average of $11.08. Blue Owl Technology Finance has a 12 month low of $8.76 and a 12 month high of $15.00. The firm has a market cap of $4.27 billion, a P/E ratio of 12.03 and a beta of -0.54.

Blue Owl Technology Finance (NYSE:OTF) last issued its quarterly earnings data on Wednesday, November 4th. The company reported $0.29 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.32 by ($0.03). Blue Owl Technology Finance had a net margin of 27.11% and a return on equity of 7.02%. The company had revenue of $341.29 million for the quarter. During the same quarter in the previous year, the business posted $0.32 EPS. On average, research analysts forecast that Blue Owl Technology Finance will post 1.25 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of OTF. Abel Hall LLC purchased a new position in Blue Owl Technology Finance during the 1st quarter valued at $124,000. Integrity Financial Corp WA purchased a new position in Blue Owl Technology Finance in the 2nd quarter worth about $123,000. Keybank National Association OH bought a new stake in Blue Owl Technology Finance during the 1st quarter valued at about $148,000. Kestra Advisory Services LLC lifted its holdings in Blue Owl Technology Finance by 39.1% during the 1st quarter. Kestra Advisory Services LLC now owns 12,241 shares of the company’s stock valued at $152,000 after buying an additional 3,443 shares in the last quarter. Finally, Angeles Wealth Management LLC purchased a new stake in Blue Owl Technology Finance in the 1st quarter valued at about $166,000.

Blue Owl Technology Finance Company Profile

Blue Owl Technology Finance (NYSE: OTF) is a business development company that provides financing to technology-related businesses. The company primarily invests in senior secured loans and other debt investments, with a focus on companies operating in technology and technology-enabled industries.

Its portfolio may also include subordinated debt, equity investments and other securities, allowing it to support businesses at various stages of development. Blue Owl Technology Finance generally works with private, middle-market companies seeking capital for growth, acquisitions, recapitalizations and other corporate purposes.

The company is externally managed by an affiliate of Blue Owl Capital, an alternative asset manager.