Converge Technology Solutions (TSE:CTS – Get Free Report) had its target price decreased by research analysts at CIBC from C$5.00 to C$4.00 in a research note issued to investors on Friday, BayStreet.CA reports. CIBC’s price target points to a potential upside of 25.39% from the company’s previous close.
A number of other equities research analysts also recently commented on CTS. Raymond James reduced their target price on Converge Technology Solutions from C$6.50 to C$4.50 in a report on Friday. Cormark reduced their price objective on shares of Converge Technology Solutions from C$6.50 to C$5.50 in a research note on Friday, August 9th. National Bankshares lowered shares of Converge Technology Solutions from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from C$6.00 to C$4.50 in a research report on Friday. Finally, TD Securities upgraded shares of Converge Technology Solutions from a “hold” rating to a “buy” rating and reduced their price target for the company from C$6.00 to C$5.50 in a research report on Friday, August 9th. Four equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of C$6.03.
Check Out Our Latest Stock Analysis on CTS
Converge Technology Solutions Price Performance
Converge Technology Solutions (TSE:CTS – Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The company reported C$0.19 EPS for the quarter, topping analysts’ consensus estimates of C$0.12 by C$0.07. The company had revenue of C$651.85 million during the quarter, compared to the consensus estimate of C$645.18 million. Converge Technology Solutions had a negative net margin of 6.10% and a negative return on equity of 33.46%. Equities analysts predict that Converge Technology Solutions will post 0.6884058 earnings per share for the current year.
Insider Buying and Selling
In other news, Senior Officer Greg Berard purchased 10,105 shares of the stock in a transaction on Tuesday, September 3rd. The stock was purchased at an average price of C$4.42 per share, with a total value of C$44,684.31. Corporate insiders own 5.97% of the company’s stock.
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.
Recommended Stories
- Five stocks we like better than Converge Technology Solutions
- The 3 Best Blue-Chip Stocks to Buy Now
- Lam Research Proves Analysts Wrong with a Strong Earnings Report
- Stock Analyst Ratings and Canadian Analyst Ratings
- PureCycle: Up 250% in 2024 – Is This Materials Stock Still a Buy?
- Should You Add These Warren Buffett Stocks to Your Portfolio?
- MarketBeat Week in Review – 10/21- 10/25
Receive News & Ratings for Converge Technology Solutions Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Converge Technology Solutions and related companies with MarketBeat.com's FREE daily email newsletter.