Softcat (LON:SCT) Shares Cross Below 50 Day Moving Average – What’s Next?

Softcat plc (LON:SCT)’s stock price crossed below its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of GBX 1,550.20 ($20.29) and traded as low as GBX 1,511 ($19.77). Softcat shares last traded at GBX 1,527 ($19.98), with a volume of 312,077 shares trading hands.

Analysts Set New Price Targets

A number of research analysts recently issued reports on SCT shares. Shore Capital downgraded shares of Softcat to a “hold” rating in a research report on Wednesday, June 26th. Jefferies Financial Group downgraded Softcat to an “underperform” rating and reduced their target price for the company from GBX 1,950 ($25.52) to GBX 1,490 ($19.50) in a research note on Friday, July 5th. Finally, JPMorgan Chase & Co. restated an “underweight” rating and set a GBX 1,250 ($16.36) price objective on shares of Softcat in a report on Thursday, July 25th. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of GBX 1,442.50 ($18.88).

Softcat Stock Up 0.3 %

The stock has a 50-day moving average of GBX 1,550.20 and a 200 day moving average of GBX 1,613.89. The company has a quick ratio of 1.38, a current ratio of 1.59 and a debt-to-equity ratio of 3.57. The company has a market capitalization of £3.05 billion, a PE ratio of 2,735.71, a P/E/G ratio of 11.51 and a beta of 0.71.

About Softcat

Softcat plc operates as a value-added IT reseller and IT infrastructure solutions provider in the United Kingdom. The company advices, procures, designs, implements, and manages technology, such as software licensing, workplace technology, networking, security, and cloud and datacenter for businesses and public sector organizations.