Safeguard Scientifics (NYSE:SFE) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Friday. The firm currently has a $14.00 target price on the asset manager’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 12.00% from the stock’s previous close.
According to Zacks, “Safeguard Scientifics, Inc. is a diversified information technology company that develops, operates and manages emerging growth information technology companies. The company is currently focusing on emerging opportunities in eCommerce, enterprise applications, and network infrastructure, all of which are expected to benefit from the growing use of the Internet as a fundamental business tool. The company works closely with our partnership companies to provide numerous operational and management services to build value in preparation for public rights offerings and beyond. “
Several other research analysts also recently commented on the company. Barrington Research reiterated a “buy” rating and issued a $20.00 price objective on shares of Safeguard Scientifics in a report on Tuesday, March 6th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $14.50 price objective on shares of Safeguard Scientifics in a report on Thursday, March 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $16.17.
Safeguard Scientifics (NYSE:SFE) last released its quarterly earnings data on Thursday, March 1st. The asset manager reported ($0.91) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.05) by $0.14. During the same period in the previous year, the company posted ($1.07) earnings per share. analysts predict that Safeguard Scientifics will post -3.23 earnings per share for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Legal & General Group Plc grew its stake in shares of Safeguard Scientifics by 16.9% in the third quarter. Legal & General Group Plc now owns 63,234 shares of the asset manager’s stock worth $844,000 after purchasing an additional 9,157 shares during the last quarter. MetLife Investment Advisors LLC bought a new stake in shares of Safeguard Scientifics in the fourth quarter worth about $113,000. Neuberger Berman Group LLC bought a new stake in shares of Safeguard Scientifics in the third quarter worth about $136,000. Goodman Financial Corp grew its stake in shares of Safeguard Scientifics by 3.6% in the fourth quarter. Goodman Financial Corp now owns 342,300 shares of the asset manager’s stock worth $3,834,000 after purchasing an additional 11,744 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its stake in shares of Safeguard Scientifics by 87.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 26,663 shares of the asset manager’s stock worth $299,000 after purchasing an additional 12,458 shares during the last quarter. 76.54% of the stock is currently owned by institutional investors.
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About Safeguard Scientifics
Safeguard Scientifics, Inc no longer investing. It is a private equity and venture capital firm specializing in expansion financings, growth capital, management buyouts, recapitalizations, industry consolidations, corporate spinouts, growth stage, and early stage financings in Fintech sector. It initially invests in a Series A-C round and opportunistically in a seed round.
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