Converge Technology Solutions (TSE:CTS) Given a C$4.00 Price Target at Stifel Nicolaus

Converge Technology Solutions (TSE:CTS) has been given a C$4.00 price target by research analysts at Stifel Nicolaus in a research note issued to investors on Thursday,BayStreet.CA reports. The firm currently has a “hold” rating on the stock. Stifel Nicolaus’ price objective would suggest a potential upside of 11.73% from the stock’s current price.

Several other analysts have also issued reports on CTS. Scotiabank lowered Converge Technology Solutions from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 24th. Ventum Financial boosted their price target on shares of Converge Technology Solutions from C$5.20 to C$6.00 and gave the company a “buy” rating in a research report on Friday, January 3rd. Raymond James cut their price target on shares of Converge Technology Solutions from C$6.50 to C$4.50 in a report on Friday, October 25th. Canaccord Genuity Group cut their price objective on Converge Technology Solutions from C$6.25 to C$6.00 in a report on Friday, October 25th. Finally, CIBC decreased their price objective on Converge Technology Solutions from C$5.00 to C$4.00 in a report on Friday, October 25th. Six analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Converge Technology Solutions has a consensus rating of “Moderate Buy” and a consensus price target of C$5.77.

Converge Technology Solutions Stock Performance

Shares of CTS stock traded down C$0.11 during trading hours on Thursday, hitting C$3.58. 306,852 shares of the company were exchanged, compared to its average volume of 487,268. The company has a current ratio of 1.00, a quick ratio of 0.68 and a debt-to-equity ratio of 99.08. The stock has a market capitalization of C$698.82 million, a price-to-earnings ratio of -4.48, a P/E/G ratio of 0.14 and a beta of 1.81. The firm has a fifty day simple moving average of C$3.41 and a 200 day simple moving average of C$3.95. Converge Technology Solutions has a 52-week low of C$2.90 and a 52-week high of C$6.06.

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.