Hercules Capital

HTGC · NYSE

$16.28+$0.21 (+1.31%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $16.07

HTGC analyst rating

BuyConsensus of 8 analysts over the last 12 months. 75% rate it a buy.

Strong buy0
Buy6
Hold2
Underperform0
Sell0

12-month price target · 11 analysts

Average $19.89 (+22.2% upside)

Low: $17.17
Now: $16.28
High: $26.25

Upgrades and downgrades

The latest rating actions, newest first

HTGC analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
UBS	Sep 1, 2026	Upgrade	Neutral → Buy	$15.50 → $18.50	35%
Ladenburg Thalmann	Jul 31, 2026	Maintains	Buy	$21.00 → $20.00	29%
UBS	May 18, 2026	Maintains	Neutral	$15.00 → $15.50	80%
Piper Sandler	May 6, 2026	Maintains	Neutral	$16.50 → $17.00	37%
Citizens	Apr 22, 2026	Maintains	Market Outperform	$24.00 → $22.00	33%
Keefe, Bruyette & Woods	Apr 16, 2026	Maintains	Outperform	$19.00 → $18.00	36%
Piper Sandler	Apr 7, 2026	Maintains	Neutral	$17.50 → $16.50	37%
UBS	Mar 13, 2026	Maintains	Neutral	$19.50 → $15.00	80%
Keefe, Bruyette & Woods	Feb 13, 2026	Maintains	Outperform	$20.00 → $19.00	36%
Wells Fargo	Feb 13, 2026	Maintains	Overweight	$18.00 → $17.00	50%

The case for and against

Updated Jul 31, 2026

Bull case

Hercules Capital is a leader in the venture lending space, with a focus on high-growth, technology and life sciences companies. Despite recent market volatility and scrutiny on software exposure, the company's strong originations and constructive commentary on deployment opportunities and portfolio credit quality support a positive outlook. Additionally, Hercules is trading at a premium to its peers, further highlighting investor confidence in the company's business model and potential for future growth.

Bear case

Hercules Capital is a reputable company with strong internal credit ratings and low non-accrual rates. However, with a substantial exposure to the software industry, there is a risk of potential difficulties when loans mature or equity rounds are delayed due to AI disruptions. With that said, the company is viewed as one of the best in the tech lending space, and its increased focus on life sciences companies may bring potential for future growth.

Information on this page is provided for informational purposes only and is not a recommendation to buy, sell or hold any security. Investing involves risk, including possible loss of principal. Market data is delayed at least 15 minutes and is provided without warranty. Analyst ratings, price targets and company data come from third-party sources. Past performance does not guarantee future results.