Cantor Fitzgerald Remains a Buy on Virtusa Corp (VRTU)


In a report released today, Joseph Foresi from Cantor Fitzgerald maintained a Buy rating on Virtusa Corp (VRTU), with a price target of $62. The company’s shares opened today at $49.98.

Foresi said:

“. We maintain our Overweight rating on Virtusa and our 12- mo. PT of $62. The company posts organic growth rates (9% based on our estimate) above industry averages and is expanding margins. Virtusa performed slightly above expectations in the period and management tightened FY19 (ending March 2019) adjusted EPS guidance. We see reason for optimism as growth rates have improved along with margins.”

According to TipRanks.com, Foresi is a top 25 analyst with an average return of 18.8% and a 80.5% 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 a Strong Buy with an average price target of $61.60, implying a 23.2% upside from current levels. In a report issued on January 29, Barrington also maintained a Buy rating on the stock with a $64 price target.

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The company has a one-year high of $58.60 and a one-year low of $37.80. Currently, Virtusa Corp has an average volume of 171.8K.

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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.

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