Converge Technology Solutions (TSE:CTS) Price Target Raised to C$6.00 at Ventum Financial

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

CTS has been the subject of a number of other reports. Raymond James dropped their price target on shares of Converge Technology Solutions from C$6.50 to C$4.50 in a research report on Friday, October 25th. Cormark cut Converge Technology Solutions from a “moderate buy” rating to a “hold” rating in a research note on Friday, October 25th. National Bank Financial downgraded shares of Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. Scotiabank lowered shares of Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. Finally, National Bankshares downgraded Converge Technology Solutions from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from C$6.00 to C$4.50 in a report on Friday, October 25th. Six investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of C$5.93.

Converge Technology Solutions Stock Performance

Converge Technology Solutions stock opened at C$3.71 on Friday. The stock has a market cap of C$724.19 million, a price-to-earnings ratio of -4.64, a price-to-earnings-growth 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 debt-to-equity ratio of 99.08, a current ratio of 1.00 and a quick ratio of 0.68. The firm has a 50 day simple moving average of C$3.32 and a 200-day simple 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.