Virtusa Corp (VRTU) Gets a Buy Rating from Barrington


In a report released today, Vincent Colicchio from Barrington maintained a Buy rating on Virtusa Corp (VRTU), with a price target of $64. The company’s shares closed yesterday at $48.20.

Colicchio observed:

“We increased our fiscal 2019 non-GAAP EPS forecast to $2.28 from $2.25 to reflect the overage reported in the quarter. We are maintaining our fiscal 2020 non-GAAP EPS forecast of $2.78.”

According to TipRanks.com, Colicchio has currently no stars on a ranking scale of 0-5 stars, with an average return of -6.0% and a 48.1% success rate. Colicchio covers the Technology sector, focusing on stocks such as Sykes Enterprises Inc, Computer Task, and HealthStream.

Currently, the analyst consensus on Virtusa Corp is a Strong Buy with an average price target of $61.60.

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Based on Virtusa Corp’s latest earnings release for the quarter ending December 31, the company reported a quarterly net profit of $12.58 million. In comparison, last year the company had a GAAP net loss of $10.06 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.

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