Barrington Sticks to Its Buy Rating for Virtusa (VRTU)

Barrington analyst Vincent Colicchio maintained a Buy rating on Virtusa (VRTUResearch Report) today and set a price target of $60.00. The company’s shares closed last Monday at $43.37.

According to TipRanks.com, Colicchio is a 2-star analyst with an average return of 0.6% and a 58.0% success rate. Colicchio covers the Technology sector, focusing on stocks such as Exlservice Holdings, Sykes Enterprises, and Computer Task.

The word on The Street in general, suggests a Strong Buy analyst consensus rating for Virtusa with a $51.00 average price target, implying a 20.0% upside from current levels. In a report released today, Needham also reiterated a Buy rating on the stock with a $48.00 price target.

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Based on Virtusa’s latest earnings release for the quarter ending June 30, the company reported a quarterly net profit of $5.83 million. In comparison, last year the company had a net profit of $1.51 million.

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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.