Softchoice (TSE:SFTC) Reaches New 52-Week High – What’s Next?

Softchoice Co. (TSE:SFTC) shares hit a new 52-week high during trading on Thursday . The company traded as high as C$22.87 and last traded at C$22.55, with a volume of 893 shares trading hands. The stock had previously closed at C$22.44.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on SFTC. Scotiabank upgraded Softchoice from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from C$20.00 to C$24.00 in a research report on Tuesday, November 12th. Cormark increased their price objective on Softchoice from C$24.00 to C$25.50 in a research report on Monday, November 11th. Royal Bank of Canada increased their price objective on Softchoice from C$19.00 to C$20.00 and gave the company a “sector perform” rating in a research report on Monday, August 12th. Finally, ATB Capital upgraded Softchoice from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from C$18.50 to C$23.00 in a research report on Monday, August 12th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of C$22.67.

Softchoice Price Performance

The company has a market capitalization of C$1.38 billion, a price-to-earnings ratio of 24.93 and a beta of -0.14. The firm has a 50-day moving average price of C$20.11 and a two-hundred day moving average price of C$18.50.

Softchoice Company Profile

Softchoice Corporation designs, procures, implements, and manages information technology (IT) solutions in Canada and the United States. The company offers cloud and data center solutions, such as data center and application modernization; collaboration and digital workplace solutions comprising secure access, and adoption and change management; IT asset management solutions, including software and hardware asset management solutions, and IT procurement services; network and security support solutions.