Cantor Fitzgerald analyst Joseph Foresi reiterated a Buy rating on Virtusa Corp (NASDAQ: VRTU) today and set a price target of $31. The company’s shares closed yesterday at $32.40.
Foresi observed:
“4QFY17 revenue generally in line with expectations. Revenue for 4QFY17 was $226.0 mn, up 4.0% q/q and 31.5% y/y, vs. our $226.0 mn estimate and the $226.7 mn FactSet consensus. The high growth rates were aided by the recent Polaris acquisition. Organic growth numbers have not been released yet. Non- GAAP operating margin was 8.3%, below our 9.0% estimate. Non-GAAP EPS was $0.43 vs. our $0.44 estimate and consensus of $0.45.”
According to TipRanks.com, Foresi is a 5-star analyst with an average return of 9.7% and a 77.0% success rate. Foresi covers the Technology sector, focusing on stocks such as Automatic Data Processing, Fidelity National Info, and Computer Sciences.
Virtusa Corp has an analyst consensus of Strong Buy, with a price target consensus of $35.67.
The company has a one year high of $35.58 and a one year low of $18.03. Currently, Virtusa Corp has an average volume of 479.5K.
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Virtusa Corp. provides IT consulting, technology and outsourcing services. The company provides end-to-end information technology services to Forbes Global 2000 companies. It services include IT and business consulting, digital enablement services, user experience design, development of IT applications, maintenance and support services, systems integration, infrastructure and managed services. Virtusa was founded by Krishan A. Canekeratne, Tushara Canekeratne and John Gillis in November 1996 and is headquartered in Westborough, MA.