Converge Technology Solutions (TSE:CTS) PT Set at C$4.00 by Stifel Nicolaus

Converge Technology Solutions (TSE:CTS) received a C$4.00 target price from stock analysts at Stifel Nicolaus in a report released on Thursday,BayStreet.CA reports. The brokerage presently has a “hold” rating on the stock. Stifel Nicolaus’ price target indicates a potential upside of 14.61% from the company’s previous close.

A number of other analysts have also recently weighed in on CTS. Cormark raised shares of Converge Technology Solutions from a “hold” rating to a “moderate buy” rating in a research note on Monday, January 13th. Ventum Financial boosted their price objective on Converge Technology Solutions from C$5.20 to C$6.00 and gave the stock a “buy” rating in a research report on Friday, January 3rd. National Bankshares downgraded Converge Technology Solutions from an “outperform” rating to a “sector perform” rating and dropped their target price for the company from C$6.00 to C$4.50 in a research report on Friday, October 25th. Canaccord Genuity Group lowered their price objective on Converge Technology Solutions from C$6.25 to C$6.00 in a research note on Friday, October 25th. Finally, Scotiabank downgraded shares of Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 24th. Six research analysts have rated the stock with a hold rating, five have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Converge Technology Solutions has an average rating of “Moderate Buy” and an average target price of C$5.77.

Converge Technology Solutions Stock Performance

Shares of TSE:CTS opened at C$3.49 on Thursday. The company’s 50 day simple moving average is C$3.42 and its 200 day simple moving average is C$3.95. The company has a debt-to-equity ratio of 99.08, a current ratio of 1.00 and a quick ratio of 0.68. Converge Technology Solutions has a 1 year low of C$2.90 and a 1 year high of C$6.06. The stock has a market capitalization of C$681.25 million, a price-to-earnings ratio of -4.36, a price-to-earnings-growth ratio of 0.14 and a beta of 1.81.

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.