Today, an analyst has provided a rating update for Converge Technology Solutions Corp (CTS – Research Report). The Technology company, Converge Technology Solutions Corp (TSX: CTS) has just received a rating update from a Wall Street analyst.
According to TipRanks.com, Goyal ‘s ranking currently consits of 0 on a 0-5 ranking scale, with an average return of -12.9% and a 39.1% success rate. Goyal covers the Technology sector, focusing on stocks such as Quisitive Technology Solutions, Kyndryl Holdings Incorporation, and TELUS International (CDA).
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Converge Technology Solutions Corp with a C$5.30 average price target, representing a 51.4% upside. In a report released today, Echelon Wealth Partners also assigned a Buy rating to the stock with a C$5.40 price target.
Based on Converge Technology Solutions Corp’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of C$666 million and GAAP net loss of C$3.55 million. In comparison, last year the company earned revenue of C$515 million and had a net profit of C$14.14 million.
Converge Technology Solutions Corp is a Canadian company building a platform of regionally focused Hybrid IT infrastructure providers that deliver best-of-breed solutions and services in the United States. The solutions provided include multi-cloud solutions, the blockchain, resiliency, and managed services, enabling the company to address the business and IT issues that public and private-sector organizations face. It has two reportable segments: the United States and Canada. The majority of its revenue is generated from product sales in the United States.
The company’s shares closed last Tuesday at C$3.72.
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