In a report released today, Joseph Foresi from Cantor Fitzgerald maintained a Buy rating on Virtusa Corp (NASDAQ: VRTU), with a price target of $60. The company’s shares opened today at $50.10, close to its 52-week high of $54.21.
Foresi noted:
“. We continue our Charts series, in which we look at our coverage universe periodically for an opportunity in names where the Fundamentals match up with the Technicals. We look this week at Overweight-rated VRTU with a 12-month price target of $60. Fundamentally, we see reason for optimism as growth rates have improved along with margins. Technically, VRTU is in a solid upward channel.”
According to TipRanks.com, Foresi is a top 25 analyst with an average return of 20.5% and a 87.7% success rate. Foresi covers the Technology sector, focusing on stocks such as Jack Henry & Associates, Fidelity National Info, and DXC Technology Company.
Currently, the analyst consensus on Virtusa Corp is Strong Buy and the average price target is $57.75, representing a 15.3% upside.
In a report issued on June 12, Barrington also maintained a Buy rating on the stock with a $55 price target.
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The company has a one-year high of $54.21 and a one-year low of $28.45. Currently, Virtusa Corp has an average volume of 201.9K.
Based on the recent corporate insider activity of 101 insiders, corporate insider sentiment is negative on the stock. Earlier this month, William O’brien, a Director at VRTU sold 14,074 shares for a total of $732,552.
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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.
