Virtu Financial on track for best day in 6 years after Q2 results beat

Virtu Financial

18/07/2024 15:24

** Shares of market maker Virtu Financial  VIRT.O  hit
2-year high, last up 12.5% at $26.39
    ** Total revenue increased 36.7% to $693.0 million in Q2,
well above analysts est. of $331.6 mln on strong growth in
market-making business
    ** Q2 profit also tops estimates
    ** "Results suggest an acceleration of activity and/or
profitability in June," Jefferies analyst said in a note
    ** VIRT set for best day one-day percentage gain in 6 years
    ** Averaging rating of nine brokerages covering stock is
"buy"; median PT $24.50
    ** Including session gains, stock is up about 31% YTD

 (Reporting by Medha Singh)
 ((medha.singh@thomsonreuters.com))