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Virtu Financial, Inc. (VIRT) provides market making and liquidity services through its proprietary, multi-asset, and multi-currency technology platform to the financial markets worldwide.
The company's Market Making segment principally consists of market making in the cash, futures, and options markets across equities, options, fixed income, currencies, and commodities.
Its Execution Services segment comprises agency-based trading and trading venues, which offer execution services in equities, ETFs, futures, fixed income, currencies, and commodities to institutions, banks, and broker dealers.
On August 7th, company reported 2nd Quarter June 2020 earnings of $1.72 per share on revenue of $905.9 million. The consensus earnings estimate was $1.57 per share on revenue of $620.2 million. Revenue grew 139.4% on a year-over-year basis. The company reports on November 6th.
Shares have rebounded from their 50-day moving average and have now overcome an overhead resisstance. We expect the momentum to continue and move the shares higher.
Entry Point: $27.30
Stop Loss: $26.00
Trading Range: $14.94 to $27.61
Target Price: $30.00
VIRT closed at $23.38
