Virtusa Corp Received its Third Buy in a Row


After Barrington and Needham gave Virtusa Corp (NASDAQ: VRTU) a Buy rating last month, the company received another Buy, this time from Cantor Fitzgerald. Analyst Joseph Foresi maintained a Buy rating on Virtusa Corp today and set a price target of $60. The company’s shares closed on Friday at $47.59.

Foresi commented:

“Our Overweight rating on Virtusa is based on our belief the company has overcome some recent short-term headwinds. In our opinion, fundamentals remain positive as the company targets long-term margin expansion. We believe the risk/reward is appealing at present levels expecting recent acquisitions (Polaris & eTouch) along with strong Digital growth will drive long term results.”

According to TipRanks.com, Foresi is a top 25 analyst with an average return of 17.4% and a 83.8% success rate. Foresi covers the Technology sector, focusing on stocks such as Jack Henry & Associates, Fidelity National Info, and Exlservice Holdings.

Currently, the analyst consensus on Virtusa Corp is Strong Buy and the average price target is $58.20, representing a 22.3% upside.

In a report issued on May 16, Barrington also maintained a Buy rating on the stock with a $55 price target.

See today’s analyst top recommended stocks >>

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 213.8K.

Based on the recent corporate insider activity of 96 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.

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.

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.

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