Converge Technology Solutions (TSE:CTS) Price Target Raised to C$6.00

Converge Technology Solutions (TSE:CTS) had its price objective hoisted by analysts at Ventum Financial from C$5.20 to C$6.00 in a note issued to investors on Friday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Ventum Financial’s target price would indicate a potential upside of 61.29% from the company’s current price.

A number of other equities analysts have also recently issued reports on the company. National Bank Financial cut Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 24th. Cormark cut Converge Technology Solutions from a “moderate buy” rating to a “hold” rating in a research note on Friday, October 25th. Scotiabank cut shares of Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. Canaccord Genuity Group cut their price objective on shares of Converge Technology Solutions from C$6.25 to C$6.00 in a research report on Friday, October 25th. Finally, TD Securities decreased their target price on shares of Converge Technology Solutions from C$5.00 to C$4.50 in a research report on Wednesday, November 13th. Six equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Converge Technology Solutions currently has a consensus rating of “Moderate Buy” and an average price target of C$5.93.

Converge Technology Solutions Stock Up 9.4 %

Shares of TSE:CTS traded up C$0.32 during trading on Friday, hitting C$3.72. 507,026 shares of the company’s stock traded hands, compared to its average volume of 418,271. The company has a 50-day moving average price of C$3.31 and a 200-day moving average price of C$4.01. Converge Technology Solutions has a 52 week low of C$2.90 and a 52 week high of C$6.06. The company has a current ratio of 1.00, a quick ratio of 0.68 and a debt-to-equity ratio of 99.08. The company has a market cap of C$726.14 million, a price-to-earnings ratio of -4.65, a price-to-earnings-growth ratio of 0.14 and a beta of 1.81.

Converge Technology Solutions Company Profile

Converge Technology Solutions Corp. provides software-enabled IT and cloud solutions in the United States and Canada. Its solutions approach delivers advanced analytics, artificial intelligence, application modernization, cloud, cybersecurity, digital infrastructure, and digital workplace offerings to clients across various industries.