GSV Capital (GSVC) Could Benefit as IPO Trends Strong - Ascendiant Capital

August 9, 2012 3:01 PM EDT
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Price: $5.31 --0%

Rating Summary:
    6 Buy, 1 Hold, 0 Sell

Rating Trend: = Flat

Today's Overall Ratings:
    Up: 23 | Down: 31 | New: 33
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Today Ascendiant Capital maintained a Buy rating on GSV Capital (NASDAQ: GSVC) but cut their price target to $14.00 (from $20.00).

GSV Capital is a closed-end investment company that invests principally in the equity of privately-held high growth technology companies.

“Despite weakness with the largest IPO of the year, Facebook, the overall market for IPOs remains solid (+16% YTD),” said Edward Woo. “There are concerns that valuations of private companies may be inflated, but we believe that current valuation trends are positive and reflective of the positive trends in the U.S. stock markets.”

So far in Q3, GSV Capital (NASDAQ: GSVC) invested $43 million in 11 new and existing companies, bringing total companies invested to 40. In terms of catalyst, several of GSV’s portfolio companies may IPO soon, notes Woo. “Silver Springs Networks has filed a S-1 to IPO, and that others are likely within the next six months.”

For an analyst ratings summary and ratings history on GSV Capital click here. For more ratings news on GSV Capital click here.

Shares of GSV Capital closed at $9.48 yesterday.

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