In a report released yesterday, Andrew D’silva from B.Riley FBR maintained a Buy rating on Cynergistek Inc (CTEK), with a price target of $7.25. The company’s shares closed yesterday at $4.80, close to its 52-week high of $5.10.
D’silva commented:
“AMC Wednesday, 3/20, CynergisTek (CTEK) announced it closed a transaction to sell the assets used in its managed print services (MPS) business for $30M to the total consideration is subject to future MPS sales activity. CTEK intends to use the consideration to pay down the majority of its debt which should allow the company to more freely examine the cybersecurity M&A landscape and potentially expand its offerings to other industries outside of healthcare. Vereco is a healthcare document services company and is run by CTEK’s former CEO, Joseph Flynn, who left the company in 4Q17.”
According to TipRanks.com, D’silva is a 4-star analyst with an average return of 10.5% and a 47.8% success rate. D’silva covers the Healthcare sector, focusing on stocks such as EyePoint Pharmaceuticals Inc, Oramed Pharmaceuticals, and Sorrento Therapeutics.
Cynergistek Inc has an analyst consensus of Moderate Buy, with a price target consensus of $7.25.
See today’s analyst top recommended stocks >>
Based on Cynergistek Inc’s latest earnings release for the quarter ending September 30, the company reported a quarterly net profit of $1.15 million. In comparison, last year the company had a GAAP net loss of $1.61 million.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
CynergisTek, Inc. provides cybersecurity and information management consulting in healthcare industry. The company specializes in privacy, security, compliance, and document management.
