Barrington Thinks Virtusa Corp’s Stock is Going to Recover

In a report released today, Vincent Colicchio from Barrington maintained a Buy rating on Virtusa Corp (VRTUResearch Report), with a price target of $60. The company’s shares opened today at $34.03, close to its 52-week low of $32.82.

Colicchio noted:

“We are reducing our fiscal 2020 and fiscal 2021 non-GAAP EPS forecasts to $2.55 and $2.98 from $2.70 and $3.18, respectively.”

According to TipRanks.com, Colicchio has currently no stars on a ranking scale of 0-5 stars, with an average return of -6.2% and a 43.3% success rate. Colicchio covers the Technology sector, focusing on stocks such as Sykes Enterprises Inc, Exlservice Holdings, and Computer Task.

Currently, the analyst consensus on Virtusa Corp is a Strong Buy with an average price target of $60.

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Virtusa Corp’s market cap is currently $1.04B and has a P/E ratio of 46.47. The company has a Price to Book ratio of 2.65.

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.

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.

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.