Eplus (PLUS) Receives a Buy from Berenberg Bank

In a report released today, Brett Knoblauch from Berenberg Bank maintained a Buy rating on Eplus (PLUS), with a price target of $80.00. The company’s shares closed last Wednesday at $73.68.

According to TipRanks.com, Knoblauch is a 4-star analyst with an average return of 13.7% and a 43.1% success rate. Knoblauch covers the Technology sector, focusing on stocks such as Sprout Social, Appian, and eGain.

The word on The Street in general, suggests a Moderate Buy analyst consensus rating for Eplus with a $80.00 average price target.

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Based on Eplus’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $355 million and net profit of $17.36 million. In comparison, last year the company earned revenue of $381 million and had a net profit of $16.19 million.

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ePlus, Inc. is a holding company, which engages in the provision of information technology (IT) and consulting solutions for commercial, state and local governments, and government contractors. It operates through the Technology and Financing segments. The Technology segment sells IT products, third-party software, third-party maintenance, professional and managed services, and proprietary software. The Financing segment consists of the financing of IT equipment, software, and related services. The company was founded by Bruce M. Bowen in 1990 and is headquartered in Herndon, VA.

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