.jpg "Virtusa Corp (NASDAQ: VRTU)")
Cantor Fitzgerald analyst Joseph Foresi maintained a Buy rating on Virtusa Corp (NASDAQ: VRTU) today and set a price target of $60. The company’s shares closed on Friday at $47.14.
Foresi said:
“. We maintain our Overweight rating on Virtusa and our 12-mo. PT of $60 following meetings with management. The meetings focused on the recent acquisition (eTouch) and the outlook for the largest client. VRTU just completed a strong FY18 (ended March 2018) and is looking to continue the momentum. Virtusa saw strong performance in the BFSI (Banking, Financial Services & Insurance) vertical in FY18, including a new large contract at a large banking customer. We see reason for optimism as growth rates have improved along with margins.”
According to TipRanks.com, Foresi is a top 100 analyst with an average return of 17.1% and a 81.3% 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 $58.20, representing a 23.5% upside.
In a report issued on May 16, 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 $52.88 and a one-year low of $27.84. Currently, Virtusa Corp has an average volume of 211.7K.
Based on the recent corporate insider activity of 111 insiders, corporate insider sentiment is negative on the stock. Most recently, in March 2018, Ranjan Kalia, the EVP & CFO of VRTU sold 13,865 shares for a total of $698,364.
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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 (ERP) 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.
