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

Converge Technology Solutions (TSE:CTS) had its target price lifted by stock analysts at Ventum Financial from C$5.20 to C$6.00 in a report issued on Friday,BayStreet.CA reports. The firm presently has a “buy” rating on the stock. Ventum Financial’s target price would suggest a potential upside of 61.29% from the company’s previous close.

A number of other brokerages also recently weighed in on CTS. CIBC lowered their price target on Converge Technology Solutions from C$5.00 to C$4.00 in a report on Friday, October 25th. Cormark lowered shares of Converge Technology Solutions from a “moderate buy” rating to a “hold” rating in a research report on Friday, October 25th. Canaccord Genuity Group lowered their price objective on shares of Converge Technology Solutions from C$6.25 to C$6.00 in a research report on Friday, October 25th. National Bankshares downgraded shares of Converge Technology Solutions from an “outperform” rating to a “sector perform” rating and cut their target price for the stock from C$6.00 to C$4.50 in a research report on Friday, October 25th. Finally, Raymond James lowered their price target on shares of Converge Technology Solutions from C$6.50 to C$4.50 in a report on Friday, October 25th. Six research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of C$5.93.

Converge Technology Solutions Trading Up 9.4 %

Shares of TSE CTS traded up C$0.32 during mid-day trading on Friday, hitting C$3.72. 507,026 shares of the company traded hands, compared to its average volume of 418,271. The business has a 50 day moving average of C$3.31 and a two-hundred day moving average of C$4.01. The stock has a market capitalization of C$726.14 million, a price-to-earnings ratio of -4.65, a PEG ratio of 0.14 and a beta of 1.81. Converge Technology Solutions has a 1 year low of C$2.90 and a 1 year high of C$6.06. The company has a quick ratio of 0.68, a current ratio of 1.00 and a debt-to-equity ratio of 99.08.

Converge Technology Solutions Company Profile

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.