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On Friday, JMP Securities analyst Brian McKenna adjusted the price target for Blue Owl Capital (NYSE: OWL) stock, increasing it to $32.00 from the previous $30.00. The firm has sustained a Market Outperform rating for the asset management company, which has demonstrated impressive performance with a 59% return over the past year and currently trades at $24.77 with a market capitalization of $14.1 billion. According to InvestingPro analysis, the stock appears slightly overvalued at current levels.
McKenna expressed satisfaction with Blue Owl’s key business drivers as the year 2024 concluded, noting the company’s entrance into 2025 with considerable momentum. This momentum is reflected in the company’s strong 32.6% revenue growth and impressive financial health score of GREAT from InvestingPro. The momentum is attributed to the effective integration and scaling of recent acquisitions, which are believed to be progressing well.
The analyst also emphasized the resilience and predictability of Blue Owl’s business model, suggesting that these attributes are often overlooked by the market. The company maintains a steady 2.91% dividend yield and has raised its dividend for four consecutive years. McKenna anticipates that these qualities will continue to be a factor as Blue Owl embarks on the next stage of its development. Discover more insights about Blue Owl Capital in the comprehensive Pro Research Report, available exclusively on InvestingPro.
Blue Owl Capital has been recognized for its solid business foundation, which provides a level of stability that is seen as exceptional within the industry. The upgrade in the price target reflects confidence in the company’s ability to maintain its robust performance going forward.
The firm’s positive outlook on Blue Owl is based on the company’s demonstrated ability to navigate market conditions and capitalize on growth opportunities, particularly through its strategic acquisitions. The new price target of $32.00 signifies JMP Securities’ belief in the company’s potential for continued success.
In other recent news, Pagaya (NASDAQ:PGY) Technologies has entered into a $2.4 billion loan purchase agreement with Blue Owl Capital. This move will enable Pagaya to acquire a significant volume of consumer loans over the next 24 months, enhancing its capital efficiency and diversifying its funding sources. In parallel, Blue Owl Capital has received a Buy rating and a $30 price target from Citi analysts, reflecting confidence in the company’s growth potential.
Meanwhile, Newmark Group (NASDAQ:NMRK) has secured a $2.3 billion loan for a data center project in Texas. The project, backed by a lease with a leading technology company, is a collaboration between Blue Owl Capital, Crusoe Energy Systems, and Primary Digital Infrastructure. Another noteworthy development involves Databricks Inc., which has raised over $5 billion in its largest debt financing round to date, with Blue Owl Capital being one of the lenders.
Lastly, a merger between Blue Owl Capital Corporation and Blue Owl Capital Corporation III has received overwhelming shareholder approval. The merger is expected to create a more diversified and robust business development company. These are recent developments that highlight the active role of Blue Owl Capital in various financial transactions and strategic partnerships.
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