Pivotree (CVE:PVT) Lowered to “Market Perform” Rating by Cormark

Pivotree (CVE:PVT) was downgraded by stock analysts at Cormark from a “buy” rating to a “market perform” rating in a report issued on Thursday, MarketBeat reports.

Separately, Canaccord Genuity Group decreased their price objective on shares of Pivotree from C$1.25 to C$1.00 in a research report on Thursday. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of C$2.38.

Pivotree Stock Performance

CVE PVT opened at C$0.93 on Thursday. The company has a debt-to-equity ratio of 0.73, a current ratio of 2.80 and a quick ratio of 1.95. Pivotree has a 1-year low of C$0.88 and a 1-year high of C$2.20. The business’s 50-day simple moving average is C$1.08 and its 200-day simple moving average is C$1.25. The firm has a market capitalization of C$24.47 million, a P/E ratio of -2.58 and a beta of 0.22.

Pivotree (CVE:PVT) last announced its earnings results on Tuesday, August 13th. The company reported C($0.12) EPS for the quarter. The company had revenue of C$20.26 million for the quarter, compared to analysts’ expectations of C$20.75 million. Pivotree had a negative net margin of 11.79% and a negative return on equity of 17.41%. Equities analysts predict that Pivotree will post 0.0800215 EPS for the current year.

About Pivotree

Pivotree Inc designs, integrates, deploys, and manages digital platforms in commerce, data management, and supply chain for retail and branded manufacturers in Canada and internationally. The company offers infrastructure deployment, data transaction, subscription license, system and application triage and support, configuration management, and security services, as well as provides web and application hosting services.