In a report released yesterday, Adam Tindle from Raymond James maintained a Buy rating on ScanSource (SCSC), with a price target of $27.00. The company’s shares closed last Monday at $24.44.
According to TipRanks.com, Tindle is a 1-star analyst with an average return of -2.5% and a 41.7% success rate. Tindle covers the Technology sector, focusing on stocks such as Ping Identity Holding, Insight Enterprises, and Motorola Solutions.
ScanSource has an analyst consensus of Moderate Buy, with a price target consensus of $27.00.
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Based on ScanSource’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $197 million and GAAP net loss of $217 million. In comparison, last year the company earned revenue of $338 million and had a net profit of $11.58 million.
Based on the recent corporate insider activity of 22 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of SCSC in relation to earlier this year.
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.
ScanSource, Inc. engages in the development and provision of technology products and services. It operates through the Worldwide Barcode, Networking and Security; and Worldwide Communications and Services segments. The Worldwide Barcode, Networking and Security segment offers enterprise mobile computing, cyber security, automatic identification and data capture, point-of-sale, electronic physical security, and three-dimensional printing technologies. The Worldwide Communications and Services segment includes voice, video conferencing, wireless, data networking, and converged communications solutions. The company was founded by Michael L. Baur and Steven H. Owings in December 1992 and is headquartered in Greenville, SC.
