Converge Technology Solutions (TSE:CTS) Stock Price Expected to Rise, Ventum Financial Analyst Says

Converge Technology Solutions (TSE:CTS) had its price objective boosted by investment analysts at Ventum Financial from C$5.20 to C$6.00 in a research note issued to investors on Friday,BayStreet.CA reports. The firm currently has a “buy” rating on the stock. Ventum Financial’s target price suggests a potential upside of 61.73% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. Canaccord Genuity Group decreased their target price on Converge Technology Solutions from C$6.25 to C$6.00 in a report on Friday, October 25th. National Bankshares cut shares of Converge Technology Solutions from an “outperform” rating to a “sector perform” rating and dropped their price objective for the stock from C$6.00 to C$4.50 in a research note on Friday, October 25th. Scotiabank lowered shares of Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. CIBC decreased their price target on shares of Converge Technology Solutions from C$5.00 to C$4.00 in a research note on Friday, October 25th. Finally, Cormark lowered Converge Technology Solutions from a “moderate buy” rating to a “hold” rating in a report on Friday, October 25th. Six equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of C$5.93.

Converge Technology Solutions Stock Up 9.1 %

Converge Technology Solutions stock opened at C$3.71 on Friday. Converge Technology Solutions has a one year low of C$2.90 and a one year high of C$6.06. The stock has a market cap of C$724.19 million, a PE ratio of -4.64, a price-to-earnings-growth ratio of 0.14 and a beta of 1.81. The company has a debt-to-equity ratio of 99.08, a quick ratio of 0.68 and a current ratio of 1.00. The stock has a fifty day moving average of C$3.32 and a 200 day moving average of C$4.00.

About Converge Technology Solutions

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.