.jpg "Virtusa Corp (NASDAQ: VRTU)")
In a report released today, Vincent Colicchio from Barrington maintained a Buy rating on Virtusa Corp (NASDAQ: VRTU), with a price target of $64. The company’s shares closed yesterday at $52.67, close to its 52-week high of $55.68.
Colicchio noted:
“We increased our fiscal 2019 and fiscal 2020 non-GAAP EPS forecasts to $2.25 and $2.78 from $2.20 and $2.66, respectively.”
According to TipRanks.com, Colicchio is a 3-star analyst with an average return of 5.0% and a 53.4% success rate. Colicchio covers the Technology sector, focusing on stocks such as Sykes Enterprises Inc, Exlservice Holdings, and Convergys Corp.
Currently, the analyst consensus on Virtusa Corp is a Strong Buy with an average price target of $59.80, a 13.5% upside from current levels. In a report released yesterday, Cantor Fitzgerald also maintained a Buy rating on the stock with a $62 price target.
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The company has a one-year high of $55.68 and a one-year low of $33.50. Currently, Virtusa Corp has an average volume of 176.9K.
Based on the recent corporate insider activity of 100 insiders, corporate insider sentiment is negative on the stock. Most recently, in June 2018, William O’brien, a Director at VRTU sold 14,074 shares for a total of $732,552.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Virtusa Corp. engages in the provision of information technology consulting, technology implementation, and application outsourcing services. Its services includes business process management, application services, infrastructure management, enterprise information management, independent validation services, platforming, mobility, enterprise resource planning, business consulting, customer experience management, and cloud. The company was founded by Krishan A. Canekeratne, Tushara Canekeratne and John Gillis in November 1996 and is headquartered in Westborough, MA.
