Wedbush Just Issued “Outperform” Rating on Virtusa Corporation (VRTU)

Virtusa Corporation (VRTU) was Reiterated by Wedbush to “Outperform” according to the research note released today. The brokerage firm has raised the Price Target to $ 40 from a previous price target of $35 . Wedbush advised their Clients and Investors in a research report released on Mar 3, 2017.

Based on several research reports , Company shares were Reiterated by Wedbush on Mar 3, 2017 to “Outperform”, Firm has raised the Price Target to $ 40 from a previous price target of $35 .Company shares were Reiterated by Wedbush on Mar 3, 2017 to “Outperform”, Firm has raised the Price Target to $ 40 from a previous price target of $35 .Company shares were Reiterated by Needham on Mar 2, 2017 to “Buy”, Firm has raised the Price Target to $ 38 from a previous price target of $32 .Company shares were Reiterated by Needham on Feb 10, 2017 to “Buy”, Firm has raised the Price Target to $ 32 from a previous price target of $24 .Company shares were Reiterated by Maxim Group on Jan 25, 2017 to “Buy”, Firm has raised the Price Target to $ 32 from a previous price target of $26 .

On the company’s financial health, Virtusa Corporation reported $0.37 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Feb 9, 2017. Analyst had a consensus of $0.36. The company had revenue of $217.20 million for the quarter, compared to analysts expectations of $217.71 million. The company’s revenue was up 44.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.54 EPS.

Several company insiders have filed Insider transactions , on Feb 10, 2017, Ronald T Maheu (director) sold 7,231 shares at $27.50 per share price. According to the SEC, on Jan 6, 2017, Kris A Canekeratne (Chairman & CEO) sold 12,000 shares at $26.60 per share price. On Dec 16, 2016, Ranjan Kalia (EVP & Chief Financial Officer) sold 1,000 shares at $24.89 per share price, according to the Form-4 filing with the securities and exchange commission.

Virtusa Corporation opened for trading at $28.45 and hit $30.76 on the upside on Monday, eventually ending the session at $30.49, with a gain of 7.55% or 2.14 points. The heightened volatility saw the trading volume jump to 6,41,379 shares. Company has a market cap of $913 M.

Virtusa Corporation (Virtusa) is an information technology services company. The Company’s services include information technology (IT) and business consulting user experience (UX) design development of IT applications maintenance and support services systems integration infrastructure and managed services. The Company’s services enable its clients to accelerate business outcomes by consolidating rationalizing and modernizing the clients’ core customer-facing processes into one or more core systems. The Company delivers solutions through a global delivery model applying advanced methods such as Agile an industry standard technique designed to accelerate application development. The Company’s offerings include Business and Information Technology consulting services Technology implementation services Application outsourcing services Global delivery model Platforming approach Core solutions Transformational solutions and Millennial solutions.

Virtusa Corporation

You might also like

Leave a Reply

Your email address will not be published. Required fields are marked *