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Barrington Keeps Their Buy Rating on Virtusa Corp (VRTU)


Barrington analyst Vincent Colicchio maintained a Buy rating on Virtusa Corp (VRTU) today and set a price target of $64. The company’s shares opened today at $50.58.

Colicchio said:

“We believe the company continues to gain share due to its relatively high exposure and strengths in digital solutions and legacy system m odernization services.”

According to TipRanks.com, Colicchio is a 1-star analyst with an average return of -0.5% and a 41.7% 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 $62.80, a 24.2% upside from current levels. In a report released today, Cowen & Co. also assigned a Buy rating to the stock with a $62 price target.

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Based on Virtusa Corp’s latest earnings release for the quarter ending June 30, the company reported a quarterly GAAP net loss of $6.3 million. In comparison, last year the company had a net profit of $4.77 million.

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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.