Converge Technology Solutions (TSE:CTS) Stock Price Expected to Rise, Canaccord Genuity Group Analyst Says

Converge Technology Solutions (TSE:CTS) had its price target raised by Canaccord Genuity Group from C$5.50 to C$6.00 in a note issued to investors on Thursday,BayStreet.CA reports. Canaccord Genuity Group’s price target indicates a potential upside of 0.67% from the company’s current price.

Other equities research analysts have also issued research reports about the stock. Ventum Financial lowered shares of Converge Technology Solutions from a “buy” rating to a “tender” rating and dropped their price objective for the stock from C$6.00 to C$5.50 in a research note on Monday, February 10th. Desjardins downgraded Converge Technology Solutions from a “buy” rating to a “tender” rating and raised their price target for the company from C$5.00 to C$5.50 in a report on Friday, March 7th. Stifel Nicolaus set a C$4.00 price objective on shares of Converge Technology Solutions and gave the company a “hold” rating in a research note on Thursday, January 16th. CIBC boosted their price objective on shares of Converge Technology Solutions from C$5.50 to C$6.00 in a report on Thursday. Finally, Cormark raised Converge Technology Solutions from a “hold” rating to a “moderate buy” rating in a report on Monday, January 13th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of C$16.63.

Converge Technology Solutions Stock Down 1.2 %

CTS stock opened at C$5.96 on Thursday. The company has a market capitalization of C$1.12 billion, a price-to-earnings ratio of -7.15, a price-to-earnings-growth ratio of 0.14 and a beta of 1.81. The business’s 50 day moving average price is C$5.12 and its two-hundred day moving average price is C$4.20. Converge Technology Solutions has a fifty-two week low of C$2.90 and a fifty-two week high of C$6.06. The company has a debt-to-equity ratio of 85.78, a quick ratio of 0.68 and a current ratio of 0.96.

About Converge Technology Solutions

Converge Technology Solutions Corp is a Canadian company building a platform of regionally focused Hybrid IT infrastructure providers that deliver best-of-breed solutions and services in the United States. The solutions provided include multi-cloud solutions, the blockchain, resiliency, and managed services, enabling the company to address the business and IT issues that public and private-sector organizations face.