Red Violet price target raised to $62 from $60 at Lake Street

Lake Street analyst Eric Martinuzzi raised the firm’s price target on Red Violet (RDVT) to $62 from $60 and keeps a Buy rating on the shares after the company beat consensus estimates for both revenue and profit in Q3, and “did it without any large, one-time wins.” Despite Red Violet having “what some would characterize as a rich valuation,” the firm sees further upside, the analyst tells investors.