trending Market Intelligence /marketintelligence/en/news-insights/trending/QzMpr0LcSIo9diKYrP1C5w2 content esgSubNav
In This List

Goldman Sachs downgrades Virtu Financial on top-line challenges

Blog

Bank failures: The importance of liquidity and funding data

Blog

Staying Strong in Volatile Markets: How Banks Can Overcome Challenges to Funding and Lending

Blog

Silicon Valley Bank Uncovering Regional Bank Stress with Equity Driven Credit Models

Case Study

A Scorecard Approach Helps a Bank Assess Credit Risks with Smaller Companies


Goldman Sachs downgrades Virtu Financial on top-line challenges

Goldman Sachs analyst Alexander Blostein downgraded Virtu Financial Inc. over beliefs that market volatility could limit the company's "near- to medium-term flexibility to pursue meaningful inorganic initiatives."

Blostein wrote that Virtu Financial shares have fallen 38% since being added to his Buy List on Jan. 4, 2019, with the underperformance largely driven by lower-than-expected volatility levels and retail activity trends.

The analyst also noted that current revenue conditions remain weak, putting pressure on EPS and cash flows.

Blostein downgraded Virtu Financial to "neutral" from "buy" and reduced the price target to $15.50 from $17.75. He lowered the 2019 EPS estimate to 84 cents from 99 cents and the 2020 estimate to $1.29 from $1.54.