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Cowen & Co. Sticks to Its Buy Rating for Virtusa Corp (VRTU)


In a report released today, Bryan Bergin from Cowen & Co. maintained a Buy rating on Virtusa Corp (VRTU), with a price target of $62. The company’s shares closed yesterday at $49.55.

According to TipRanks.com, Bergin is a 4-star analyst with an average return of 16.8% and a 71.2% success rate. Bergin covers the Technology sector, focusing on stocks such as DXC Technology Company, Endava Ltd, and Accenture.

Currently, the analyst consensus on Virtusa Corp is a Strong Buy with an average price target of $63, representing a 27.1% upside. In a report issued on October 31, Barrington also maintained a Buy rating on the stock with a $64 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.