Tucows (TCX) Gets a Buy Rating from CIBC

CIBC analyst CIBC World Markets reiterated a Buy rating on Tucows (TCXResearch Report) yesterday and set a price target of C$70.00. The company’s shares closed last Thursday at $76.91.

Tucows has an analyst consensus of Moderate Buy, with a price target consensus of $57.76.

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Based on Tucows’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of $70.88 million and net profit of $2.15 million. In comparison, last year the company earned revenue of $83.99 million and had a net profit of $2.83 million.

Based on the recent corporate insider activity of 80 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of TCX in relation to earlier this year.

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Tucows, Inc. is an Internet services company, which engages in the provision of domain names, email, and other services. The company operates through the following segments: Domain Services and Network Access Services. The Domain Services segment includes wholesale and retail domain name registration services; value added services; and portfolio services. The Network Access Services segment sells retail mobile phones and services to individuals and small businesses through the Ting website. It also offers services under four brands: OpenSRS, YummyNames, Hover, and Ting. The company was founded in 1993 and is headquartered in Toronto, Canada.