In a latest note to investors, a research analyst has provided a rating update for the Technology company, Solium Capital (TSX: SUM). Canaccord Genuity’s analyst Robert Young reiterates their Buy rating on the shares today.
Young observed:
“Solium reported strong Q2 revenues in both the subscription and transaction segments. The recurring subscription segment of the business is benefitting from increased private and public market penetration in the US, particularly as the Morgan Stanley and UBS partnerships continue to take flight. Both are on track and garnering positive feedback while migrations have transitioned into a steady monthly pace. Expansion into international markets is expected to deliver the next leg of organic growth, with a focus on European and Asian markets. We believe the risk profile of an investment in Solium shares has declined meaningfully in 2018 given strong execution on US white- label deployments, meaningful upticks in transaction activity and a significant hiring ramp plateauing.”
Young has an average return of 19.9% when recommending Solium Capital.
According to TipRanks.com, Young is ranked #420 out of 4850 analysts.
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Currently, the analyst consensus on Solium Capital is a Moderate Buy with an average price target of C$14.17.
Solium Capital’s market cap is currently C$668.9M and has a P/E ratio of 205.9. The company has a Price to Book ratio of 3.42.
Solium Capital, Inc. engages in the provision of cloud-enabled services for global equity administration, financial reporting, and compliance. It operates through the following geographical segments: Canada, U.S., and International.
The company’s shares closed on Wednesday at C$11.96.
