Barrington analyst Vincent Colicchio maintained a Buy rating on Virtusa Corp (VRTU) today and set a price target of $64. The company’s shares closed yesterday at $42.12.
“We expect Virtusa to release its fiscal Q1/20 earnings results tomorrow, after the market close. Subsequently, the company plans to hold a conference call at 5:00 pm ET.”
According to TipRanks.com, Colicchio is a 1-star analyst with an average return of -4.0% and a 48.7% success rate. Colicchio covers the Technology sector, focusing on stocks such as Sykes Enterprises Inc, Exlservice Holdings, and Computer Task.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for Virtusa Corp with a $60 average price target.
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Based on Virtusa Corp’s latest earnings release for the quarter ending March 31, the company reported a quarterly net profit of $8.36 million. In comparison, last year the company had a GAAP net loss of $6.3 million.
Based on the recent corporate insider activity of 78 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 VRTU in relation to earlier this year. Most recently, in June 2019, Izhar Armony, a Director at VRTU bought 1,175 shares for a total of $10,810.
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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.