Monday, June 24, 2024

National Bankshares Increases Converge Technology Solutions (TSE:CTS) Price Target to C$7.00

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Converge Technology Solutions (TSE:CTSGet Free Report) had its price target hoisted by analysts at National Bankshares from C$6.00 to C$7.00 in a note issued to investors on Friday, BayStreet.CA reports. National Bankshares’ target price points to a potential upside of 38.34% from the stock’s previous close.

Other research analysts have also issued research reports about the stock. TD Securities upped their price target on shares of Converge Technology Solutions from C$4.25 to C$6.00 and gave the company a “hold” rating in a research note on Thursday, March 7th. CIBC upped their target price on Converge Technology Solutions from C$4.50 to C$5.00 and gave the company a “neutral” rating in a research report on Thursday, March 7th. Scotiabank raised their target price on Converge Technology Solutions from C$7.00 to C$8.00 in a research note on Thursday, March 14th. Cormark cut their price objective on Converge Technology Solutions from C$7.00 to C$6.50 in a report on Friday. Finally, Desjardins lifted their target price on Converge Technology Solutions from C$6.00 to C$7.00 and gave the stock a “buy” rating in a report on Thursday, March 7th. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Converge Technology Solutions has a consensus rating of “Moderate Buy” and an average target price of C$6.63.

View Our Latest Research Report on Converge Technology Solutions

Converge Technology Solutions Trading Down 0.2 %

Shares of TSE:CTS opened at C$5.06 on Friday. The business’s 50-day moving average is C$5.54 and its 200 day moving average is C$4.56. The company has a debt-to-equity ratio of 71.05, a current ratio of 1.04 and a quick ratio of 0.68. Converge Technology Solutions has a 1 year low of C$2.24 and a 1 year high of C$6.06. The firm has a market capitalization of C$1.03 billion, a P/E ratio of -506.00, a P/E/G ratio of 0.14 and a beta of 1.91.

Converge Technology Solutions (TSE:CTSGet Free Report) last posted its quarterly earnings data on Thursday, May 9th. The company reported C$0.11 earnings per share (EPS) for the quarter, meeting the consensus estimate of C$0.11. The firm had revenue of C$628.77 million for the quarter, compared to the consensus estimate of C$661.10 million. Converge Technology Solutions had a negative net margin of 0.05% and a negative return on equity of 1.03%. On average, research analysts predict that Converge Technology Solutions will post 0.599777 earnings per share for the current fiscal year.

Insider Transactions at Converge Technology Solutions

In related news, Senior Officer Greg Berard bought 8,775 shares of the company’s stock in a transaction that occurred on Wednesday, March 20th. The shares were purchased at an average cost of C$5.80 per share, with a total value of C$50,895.00. Insiders have purchased 11,590 shares of company stock worth $66,944 over the last quarter. 5.83% of the stock is currently owned by insiders.

About Converge Technology Solutions

(Get Free Report)

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.

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Analyst Recommendations for Converge Technology Solutions (TSE:CTS)



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