Voya Financial (VOYA) Received its Third Buy in a Row

After Citigroup and RBC Capital gave Voya Financial (NYSE: VOYA) a Buy rating last month, the company received another Buy, this time from Piper Sandler. Analyst John Barnidge maintained a Buy rating on Voya Financial today and set a price target of $58.00. The company’s shares closed last Friday at $36.97.

According to TipRanks.com, Barnidge is a 2-star analyst with an average return of -1.7% and a 42.1% success rate. Barnidge covers the Financial sector, focusing on stocks such as American Equity Investment Life, Horace Mann Educators, and Brighthouse Financial.

Currently, the analyst consensus on Voya Financial is a Moderate Buy with an average price target of $64.56, which is a 72.9% upside from current levels. In a report issued on March 20, RBC Capital also maintained a Buy rating on the stock with a $60.00 price target.

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Based on Voya Financial’s latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $696 million and GAAP net loss of $771 million. In comparison, last year the company earned revenue of $831 million and had a net profit of $121 million.

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Voya Financial, Inc. is a retirement, investment, and insurance company, which engages in the provision of financial services. It operates through the following segments: Retirement, Investment Management, Employee Benefits and Individual Life. The Retirement segment offers tax-deferred, employer-sponsored retirement savings plans and administrative services. The Investment Management segment includes domestic and international fixed income, equity, multi-asset and alternative investment products and solutions. The Employee Benefits segment is comprised of stop loss, group life, voluntary employee-paid, and disability products to mid-sized and large businesses. The Individual Life segment provides universal and variable life insurance products. The company was founded on April 7, 1999 and is headquartered in New York, NY.